Moran Wealth Management LLC Purchases 112,694 Shares of Nutrien Ltd. (NYSE:NTR)

Moran Wealth Management LLC boosted its stake in shares of Nutrien Ltd. (NYSE:NTR - Free Report) by 469.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 136,688 shares of the company's stock after acquiring an additional 112,694 shares during the period. Moran Wealth Management LLC's holdings in Nutrien were worth $7,740,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Exchange Traded Concepts LLC grew its holdings in shares of Nutrien by 904.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 753 shares of the company's stock worth $42,000 after buying an additional 678 shares in the last quarter. Evolution Advisers Inc. purchased a new stake in Nutrien during the 4th quarter valued at about $49,000. CVA Family Office LLC purchased a new stake in Nutrien during the 4th quarter valued at about $57,000. NBC Securities Inc. acquired a new stake in Nutrien in the 3rd quarter valued at about $58,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in Nutrien in the 4th quarter worth approximately $61,000. 63.10% of the stock is owned by hedge funds and other institutional investors.

Nutrien Stock Down 0.3 %

Shares of NYSE NTR traded down $0.16 during mid-day trading on Wednesday, reaching $57.34. The company had a trading volume of 1,522,282 shares, compared to its average volume of 1,952,736. Nutrien Ltd. has a 52-week low of $47.90 and a 52-week high of $69.12. The stock has a market cap of $28.36 billion, a P/E ratio of 33.64, a PEG ratio of 1.86 and a beta of 0.88. The company has a current ratio of 1.15, a quick ratio of 0.53 and a debt-to-equity ratio of 0.36. The firm has a 50 day simple moving average of $53.94 and a two-hundred day simple moving average of $53.66.

Nutrien (NYSE:NTR - Get Free Report) last posted its earnings results on Wednesday, February 21st. The company reported $0.37 EPS for the quarter, missing analysts' consensus estimates of $0.72 by ($0.35). The firm had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.36 billion. Nutrien had a return on equity of 7.31% and a net margin of 3.01%. The firm's revenue for the quarter was down 24.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.02 EPS. Sell-side analysts predict that Nutrien Ltd. will post 3.82 earnings per share for the current year.

Nutrien Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 19th. Stockholders of record on Friday, June 28th will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.77%. Nutrien's dividend payout ratio (DPR) is presently 126.32%.

Analyst Upgrades and Downgrades

NTR has been the subject of several recent analyst reports. TD Securities cut their price objective on shares of Nutrien from $75.00 to $67.00 and set a "buy" rating for the company in a research report on Tuesday, February 20th. Piper Sandler cut shares of Nutrien from a "neutral" rating to an "underweight" rating and lowered their price objective for the stock from $68.00 to $54.00 in a research report on Thursday, February 29th. Scotiabank cut their target price on Nutrien from $67.00 to $66.00 and set an "outperform" rating on the stock in a research report on Monday. Berenberg Bank upgraded Nutrien from a "hold" rating to a "buy" rating and raised their price target for the stock from $60.00 to $66.00 in a research report on Monday, April 29th. Finally, CIBC cut their price objective on Nutrien from $87.00 to $76.00 and set an "outperform" rating on the stock in a report on Friday, February 23rd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $67.37.

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.