State of Tennessee Treasury Department cut its position in shares of Nutrien Ltd (NYSE:NTR) by 7.1% during the 1st quarter, HoldingsChannel.com reports. The firm owned 413,501 shares of the company’s stock after selling 31,781 shares during the period. State of Tennessee Treasury Department’s holdings in Nutrien were worth $13,975,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. State Street Corp grew its holdings in Nutrien by 1.5% during the fourth quarter. State Street Corp now owns 982,026 shares of the company’s stock worth $47,491,000 after acquiring an additional 14,421 shares during the period. Bollard Group LLC grew its stake in Nutrien by 2.4% during the 4th quarter. Bollard Group LLC now owns 177,934 shares of the company’s stock valued at $8,525,000 after acquiring an additional 4,238 shares in the last quarter. Mid Atlantic Financial Management Inc. ADV grew its stake in Nutrien by 20.2% during the 4th quarter. Mid Atlantic Financial Management Inc. ADV now owns 5,005 shares of the company’s stock valued at $240,000 after acquiring an additional 840 shares in the last quarter. CORDA Investment Management LLC. grew its stake in Nutrien by 4.3% during the 4th quarter. CORDA Investment Management LLC. now owns 406,202 shares of the company’s stock valued at $19,461,000 after acquiring an additional 16,673 shares in the last quarter. Finally, TD Asset Management Inc. grew its stake in Nutrien by 8.8% during the 4th quarter. TD Asset Management Inc. now owns 7,350,329 shares of the company’s stock valued at $352,388,000 after acquiring an additional 594,714 shares in the last quarter. Hedge funds and other institutional investors own 62.15% of the company’s stock.

Nutrien stock traded down $0.48 on Friday, reaching $33.22. The company’s stock had a trading volume of 20,555 shares, compared to its average volume of 1,394,531. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.59 and a current ratio of 1.07. The company has a market cap of $19.20 billion, a price-to-earnings ratio of 21.06, a PEG ratio of 2.54 and a beta of 0.86. The business’s fifty day moving average price is $34.99 and its 200 day moving average price is $39.11. Nutrien Ltd has a twelve month low of $23.85 and a twelve month high of $55.25.

Nutrien (NYSE:NTR) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.08). Nutrien had a net margin of 4.49% and a return on equity of 4.66%. The firm had revenue of $4.19 billion for the quarter, compared to analyst estimates of $3.44 billion. During the same period last year, the company earned $0.20 EPS. The company’s revenue was up 12.6% compared to the same quarter last year. As a group, equities analysts forecast that Nutrien Ltd will post 1.65 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Shareholders of record on Tuesday, June 30th will be issued a $0.45 dividend. The ex-dividend date is Monday, June 29th. This represents a $1.80 annualized dividend and a dividend yield of 5.42%. Nutrien’s dividend payout ratio (DPR) is currently 82.95%.

Several equities analysts have weighed in on NTR shares. Raymond James set a $48.00 target price on Nutrien and gave the company a “strong-buy” rating in a research note on Thursday, May 7th. Bank of America lowered Nutrien from a “buy” rating to an “underperform” rating in a report on Monday, May 11th. Morgan Stanley reduced their price target on Nutrien from $49.00 to $36.00 and set an “equal weight” rating for the company in a report on Monday, March 30th. Zacks Investment Research lowered Nutrien from a “hold” rating to a “sell” rating in a report on Wednesday, May 13th. Finally, Consumer Edge lowered Nutrien from an “overweight” rating to an “equal weight” rating in a report on Thursday, May 14th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $49.48.

Nutrien Profile

Nutrien Ltd. produces and markets crop nutrients to agricultural, industrial, and feed customers worldwide. It operates in four segments: Retail, Potash, Nitrogen, and Phosphate and Sulfate. The company offers potash, nitrogen, phosphate, and sulfate products. It also distributes crop nutrients, crop protection products, seeds, and merchandise products through operating 1,700 retail locations.

Further Reading: Technical Analysis

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Institutional Ownership by Quarter for Nutrien (NYSE:NTR)

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