Syntax Research Inc. Sells 2,002 Shares of Nutrien Ltd. (NYSE:NTR)

Syntax Research Inc. cut its stake in Nutrien Ltd. (NYSE:NTR) by 3.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 62,834 shares of the company’s stock after selling 2,002 shares during the period. Nutrien accounts for approximately 2.0% of Syntax Research Inc.’s portfolio, making the stock its 21st largest position. Syntax Research Inc.’s holdings in Nutrien were worth $2,812,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Nutrien by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 19,778,500 shares of the company’s stock worth $885,009,000 after buying an additional 325,210 shares during the period. Silchester International Investors LLP lifted its holdings in Nutrien by 9.5% in the fourth quarter. Silchester International Investors LLP now owns 11,693,137 shares of the company’s stock worth $523,268,000 after buying an additional 1,009,895 shares during the period. First Eagle Investment Management LLC lifted its holdings in Nutrien by 0.8% in the fourth quarter. First Eagle Investment Management LLC now owns 9,529,311 shares of the company’s stock worth $426,436,000 after buying an additional 77,174 shares during the period. ARGA Investment Management LP lifted its holdings in Nutrien by 25.7% in the fourth quarter. ARGA Investment Management LP now owns 6,043,590 shares of the company’s stock worth $270,396,000 after buying an additional 1,236,671 shares during the period. Finally, National Bank of Canada FI lifted its holdings in Nutrien by 4.1% in the third quarter. National Bank of Canada FI now owns 4,232,211 shares of the company’s stock worth $203,380,000 after buying an additional 165,582 shares during the period. 63.10% of the stock is currently owned by hedge funds and other institutional investors.

Nutrien Price Performance

Shares of NYSE NTR opened at $52.48 on Monday. The company has a quick ratio of 0.82, a current ratio of 1.27 and a debt-to-equity ratio of 0.38. Nutrien Ltd. has a twelve month low of $43.70 and a twelve month high of $60.87. The firm has a market cap of $25.68 billion, a P/E ratio of 38.31, a PEG ratio of 1.19 and a beta of 0.81. The company has a 50 day moving average of $51.67 and a 200 day moving average of $48.84.

Nutrien (NYSE:NTR) last posted its earnings results on Wednesday, February 19th. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.09). Nutrien had a return on equity of 6.81% and a net margin of 2.62%. The company had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $5.09 billion. As a group, research analysts expect that Nutrien Ltd. will post 3.72 EPS for the current fiscal year.

Nutrien Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be given a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date is Monday, March 31st. Nutrien’s dividend payout ratio (DPR) is presently 159.12%.

Analysts Set New Price Targets

Several brokerages have commented on NTR. CIBC raised their price objective on shares of Nutrien from $64.00 to $66.00 and gave the stock an “outperformer” rating in a report on Tuesday, February 25th. Piper Sandler lifted their target price on shares of Nutrien from $58.00 to $63.00 and gave the company an “overweight” rating in a report on Monday, January 27th. UBS Group lifted their target price on shares of Nutrien from $53.00 to $54.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Oppenheimer assumed coverage on shares of Nutrien in a report on Thursday, December 12th. They set an “outperform” rating and a $60.00 target price for the company. Finally, Raymond James upgraded shares of Nutrien from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $58.00 to $60.00 in a report on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $60.13.

Nutrien Company 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.