Forge First Asset Management Inc. Invests $2.77 Million in Nutrien Ltd. (NYSE:NTR)

Forge First Asset Management Inc. purchased a new position in Nutrien Ltd. (NYSE:NTR) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 62,000 shares of the company’s stock, valued at approximately $2,774,000. Nutrien accounts for about 1.0% of Forge First Asset Management Inc.’s investment portfolio, making the stock its 25th biggest position.

Other institutional investors have also recently made changes to their positions in the company. Goodman Financial Corp increased its holdings in shares of Nutrien by 4.6% in the third quarter. Goodman Financial Corp now owns 253,860 shares of the company’s stock worth $12,201,000 after purchasing an additional 11,058 shares during the period. Charles Schwab Investment Management Inc. grew its position in Nutrien by 10.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,742,351 shares of the company’s stock worth $83,812,000 after acquiring an additional 157,932 shares in the last quarter. Covea Finance grew its position in Nutrien by 21.9% in the fourth quarter. Covea Finance now owns 55,600 shares of the company’s stock worth $2,485,000 after acquiring an additional 10,000 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd grew its position in Nutrien by 78.8% in the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,495,282 shares of the company’s stock worth $121,271,000 after acquiring an additional 1,100,000 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in Nutrien by 12.2% in the third quarter. Wellington Management Group LLP now owns 1,396,887 shares of the company’s stock worth $67,200,000 after acquiring an additional 151,596 shares in the last quarter. Institutional investors own 63.10% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on NTR. Oppenheimer began coverage on shares of Nutrien in a research report on Thursday, December 12th. They issued an “outperform” rating and a $60.00 target price for the company. Royal Bank of Canada restated an “outperform” rating and set a $60.00 price target on shares of Nutrien in a research report on Monday, February 24th. TD Securities cut their price target on shares of Nutrien from $63.00 to $61.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. CIBC upped their price target on shares of Nutrien from $64.00 to $66.00 and gave the company an “outperformer” rating in a research report on Tuesday, February 25th. Finally, UBS Group upped their price target on shares of Nutrien from $53.00 to $54.00 and gave the company a “neutral” rating in a research report on Thursday, February 20th. One analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Nutrien currently has a consensus rating of “Moderate Buy” and an average target price of $60.13.

Nutrien Price Performance

NTR stock opened at $51.19 on Wednesday. Nutrien Ltd. has a 1 year low of $43.70 and a 1 year high of $60.87. The company has a market cap of $25.05 billion, a P/E ratio of 37.37, a PEG ratio of 1.19 and a beta of 0.81. The firm has a 50-day moving average of $50.96 and a 200 day moving average of $48.63. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.27 and a quick ratio of 0.82.

Nutrien (NYSE:NTR) last announced its earnings results on Wednesday, February 19th. The company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.09). Nutrien had a net margin of 2.62% and a return on equity of 6.81%. The business had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $5.09 billion. On average, sell-side analysts forecast that Nutrien Ltd. will post 3.72 EPS for the current year.

Nutrien Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.545 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.18 annualized dividend and a dividend yield of 4.26%. Nutrien’s payout ratio is 159.12%.

About Nutrien

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.