Timelo Investment Management Inc. Makes New Investment in Nutrien Ltd. (NYSE:NTR)

Timelo Investment Management Inc. purchased a new stake in Nutrien Ltd. (NYSE:NTR - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 40,000 shares of the company's stock, valued at approximately $2,253,000. Nutrien accounts for about 2.0% of Timelo Investment Management Inc.'s investment portfolio, making the stock its 6th largest holding.

Several other hedge funds and other institutional investors also recently modified their holdings of NTR. Zions Bancorporation N.A. grew its stake in Nutrien by 55.2% during the first quarter. Zions Bancorporation N.A. now owns 301 shares of the company's stock valued at $31,000 after acquiring an additional 107 shares in the last quarter. Centaurus Financial Inc. grew its stake in Nutrien by 0.9% during the first quarter. Centaurus Financial Inc. now owns 14,626 shares of the company's stock valued at $1,521,000 after acquiring an additional 132 shares in the last quarter. Equitable Holdings Inc. grew its stake in Nutrien by 4.2% during the second quarter. Equitable Holdings Inc. now owns 4,583 shares of the company's stock valued at $271,000 after acquiring an additional 183 shares in the last quarter. SVB Wealth LLC grew its stake in Nutrien by 2.3% during the first quarter. SVB Wealth LLC now owns 8,265 shares of the company's stock valued at $610,000 after acquiring an additional 187 shares in the last quarter. Finally, First Pacific Financial grew its stake in Nutrien by 1.7% during the fourth quarter. First Pacific Financial now owns 12,399 shares of the company's stock valued at $699,000 after acquiring an additional 206 shares in the last quarter. Institutional investors own 63.10% of the company's stock.

Nutrien Stock Up 1.0 %

NTR stock traded up $0.57 during trading on Friday, hitting $56.76. 2,032,051 shares of the stock traded hands, compared to its average volume of 2,161,120. Nutrien Ltd. has a 1 year low of $47.90 and a 1 year high of $75.29. The firm's 50 day moving average is $52.33 and its two-hundred day moving average is $54.91. The stock has a market cap of $28.07 billion, a price-to-earnings ratio of 22.43, a price-to-earnings-growth ratio of 2.06 and a beta of 0.89. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.17 and a quick ratio of 0.65.

Nutrien (NYSE:NTR - Get Free Report) last announced its quarterly earnings data on Wednesday, February 21st. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.35). Nutrien had a net margin of 4.33% and a return on equity of 8.59%. The firm had revenue of $5.66 billion for the quarter, compared to analysts' expectations of $5.36 billion. During the same period last year, the company posted $2.02 earnings per share. The business's revenue for the quarter was down 24.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Nutrien Ltd. will post 3.9 EPS for the current year.

Nutrien Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 11th. Stockholders of record on Thursday, March 28th will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date is Wednesday, March 27th. This is an increase from Nutrien's previous quarterly dividend of $0.53. Nutrien's dividend payout ratio (DPR) is presently 85.38%.

Wall Street Analyst Weigh In

Several brokerages recently commented on NTR. Raymond James cut shares of Nutrien from an "outperform" rating to a "market perform" rating and reduced their price objective for the company from $80.00 to $65.00 in a research note on Friday, January 12th. Berenberg Bank cut their price target on shares of Nutrien from $67.00 to $60.00 and set a "hold" rating for the company in a research note on Thursday, February 8th. TD Securities cut their price target on shares of Nutrien from $75.00 to $67.00 and set a "buy" rating for the company in a research note on Tuesday, February 20th. Wells Fargo & Company cut their price target on shares of Nutrien from $77.00 to $69.00 and set an "overweight" rating for the company in a research note on Monday, February 26th. Finally, Royal Bank of Canada cut their price target on shares of Nutrien from $75.00 to $70.00 and set an "outperform" rating for the company in a research note on Friday, February 23rd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $69.43.

Nutrien Profile

Nutrien Ltd. provides crop inputs and services. The company operates through four segments: Retail, Potash, Nitrogen, and Phosphate. The Retail segment distributes crop nutrients, crop protection products, seeds, and merchandise products. The Potash segment provides granular and standard potash products.