Nutrien Ltd. (NYSE:NTR) Sees Large Increase in Short Interest

by · The Markets Daily

Nutrien Ltd. (NYSE:NTRGet Free Report) was the target of a significant increase in short interest in June. As of June 15th, there was short interest totaling 5,310,769 shares, an increase of 89.5% from the May 31st total of 2,802,286 shares. Based on an average daily volume of 3,204,984 shares, the short-interest ratio is presently 1.7 days. Approximately 1.1% of the company’s stock are short sold.

Institutional Trading of Nutrien

Several institutional investors have recently added to or reduced their stakes in the business. Montag A & Associates Inc. lifted its position in shares of Nutrien by 310.7% in the 4th quarter. Montag A & Associates Inc. now owns 423 shares of the company’s stock worth $26,000 after buying an additional 320 shares during the last quarter. Evolution Wealth Management Inc. acquired a new position in Nutrien in the first quarter valued at approximately $32,000. Sfam LLC bought a new position in shares of Nutrien during the fourth quarter valued at approximately $37,000. Eastern Bank grew its holdings in shares of Nutrien by 133.0% during the fourth quarter. Eastern Bank now owns 699 shares of the company’s stock valued at $43,000 after purchasing an additional 399 shares during the last quarter. Finally, Harbour Investments Inc. raised its position in shares of Nutrien by 97.2% during the 4th quarter. Harbour Investments Inc. now owns 704 shares of the company’s stock worth $43,000 after purchasing an additional 347 shares during the period. Institutional investors own 63.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Scotiabank raised shares of Nutrien from a “sector perform” rating to a “sector outperform” rating and set a $80.00 price target for the company in a report on Tuesday. Scotia raised shares of Nutrien from a “sector perform” rating to a “sector outperform” rating and set a $80.00 price objective for the company in a research report on Tuesday. BMO Capital Markets raised their target price on Nutrien from $85.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, March 18th. Canadian Imperial Bank of Commerce dropped their target price on Nutrien from $90.00 to $88.00 and set an “outperformer” rating on the stock in a research report on Thursday, April 30th. Finally, Raymond James Financial raised Nutrien from a “market perform” rating to an “outperform” rating and increased their price target for the company from $74.00 to $90.00 in a report on Tuesday, May 5th. Thirteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.61.

Check Out Our Latest Analysis on NTR

Nutrien Stock Up 0.4%

Shares of NTR stock traded up $0.28 during trading hours on Wednesday, hitting $63.23. 1,171,926 shares of the company were exchanged, compared to its average volume of 3,343,157. The stock has a market capitalization of $30.30 billion, a price-to-earnings ratio of 12.90, a P/E/G ratio of 0.56 and a beta of 0.60. Nutrien has a one year low of $53.03 and a one year high of $85.36. The business’s 50-day simple moving average is $68.56 and its two-hundred day simple moving average is $69.58. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.59 and a current ratio of 1.24.

Nutrien (NYSE:NTRGet Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.03. The firm had revenue of $6.05 billion for the quarter, compared to analysts’ expectations of $5.30 billion. Nutrien had a return on equity of 8.84% and a net margin of 8.58%.Nutrien’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.11 earnings per share. Sell-side analysts predict that Nutrien will post 5.45 EPS for the current fiscal year.

Nutrien Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.55 per share. The ex-dividend date is Tuesday, June 30th. This represents a $2.20 annualized dividend and a yield of 3.5%. Nutrien’s dividend payout ratio (DPR) is 44.81%.

About Nutrien

(Get Free Report)

Nutrien Ltd. is a global fertilizer and agricultural-services company headquartered in Saskatoon, Saskatchewan, Canada. The company is publicly traded and operates across the farm input value chain, combining upstream fertilizer production with a broad retail and services platform aimed at supporting crop production worldwide. Nutrien’s business model integrates the manufacture and distribution of crop nutrients with on-the-ground agronomic support for growers and agricultural businesses.

Nutrien produces and supplies the three primary fertilizer nutrients—potash, nitrogen and phosphate—through its wholesale operations, and markets a wide range of crop inputs including seeds and crop protection products.

Featured Articles