Nutrien Ltd. (NYSE:NTR) Short Interest Update

Nutrien Ltd. (NYSE:NTR) saw a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 5,560,000 shares, an increase of 26.4% from the May 31st total of 4,400,000 shares. Approximately 1.1% of the company’s stock are short sold. Based on an average daily trading volume, of 1,770,000 shares, the days-to-cover ratio is currently 3.1 days.

Institutional Trading of Nutrien

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank purchased a new stake in Nutrien during the 4th quarter valued at $332,716,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Nutrien by 51.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 6,853,165 shares of the company’s stock valued at $425,881,000 after buying an additional 2,322,679 shares during the period. ARGA Investment Management LP lifted its holdings in shares of Nutrien by 120.2% during the 1st quarter. ARGA Investment Management LP now owns 3,780,881 shares of the company’s stock valued at $205,421,000 after buying an additional 2,063,881 shares during the period. TD Asset Management Inc lifted its holdings in shares of Nutrien by 28.6% during the 4th quarter. TD Asset Management Inc now owns 9,226,352 shares of the company’s stock valued at $522,309,000 after buying an additional 2,050,358 shares during the period. Finally, Parnassus Investments LLC lifted its holdings in shares of Nutrien by 19.5% during the 4th quarter. Parnassus Investments LLC now owns 12,017,181 shares of the company’s stock valued at $676,928,000 after buying an additional 1,960,162 shares during the period. Hedge funds and other institutional investors own 63.10% of the company’s stock.

Nutrien Trading Down 0.4 %

Shares of NYSE NTR traded down $0.19 during midday trading on Tuesday, reaching $49.98. The company had a trading volume of 2,009,267 shares, compared to its average volume of 1,871,857. Nutrien has a one year low of $47.90 and a one year high of $69.12. The company has a quick ratio of 0.53, a current ratio of 1.15 and a debt-to-equity ratio of 0.36. The firm’s fifty day moving average price is $54.85 and its 200-day moving average price is $53.68. The stock has a market cap of $24.72 billion, a PE ratio of 29.15, a price-to-earnings-growth ratio of 1.66 and a beta of 0.83.

Nutrien (NYSE:NTR) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.11. Nutrien had a return on equity of 7.31% and a net margin of 3.01%. The business had revenue of $5.39 billion during the quarter, compared to analyst estimates of $5.38 billion. On average, equities research analysts anticipate that Nutrien will post 3.84 earnings per share for the current year.

Nutrien Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 19th. Investors of record on Friday, June 28th will be paid a $0.54 dividend. The ex-dividend date is Friday, June 28th. This represents a $2.16 annualized dividend and a dividend yield of 4.32%. Nutrien’s payout ratio is currently 126.32%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. HSBC lowered their price target on Nutrien from $63.00 to $57.00 and set a “hold” rating on the stock in a report on Friday, March 8th. Piper Sandler lowered their price target on Nutrien from $56.00 to $55.00 and set an “underweight” rating on the stock in a report on Tuesday, June 11th. Berenberg Bank raised Nutrien from a “hold” rating to a “buy” rating and raised their price target for the company from $60.00 to $66.00 in a report on Monday, April 29th. Wells Fargo & Company raised their price target on Nutrien from $67.00 to $68.00 and gave the company an “overweight” rating in a report on Friday, May 10th. Finally, Jefferies Financial Group initiated coverage on Nutrien in a report on Tuesday, March 26th. They set a “buy” rating and a $62.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $66.28.

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.