1832 Asset Management L.P. Lowers Holdings in Nutrien Ltd. $NTR

1832 Asset Management L.P. decreased its holdings in Nutrien Ltd. (NYSE:NTR) by 12.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,318,695 shares of the company’s stock after selling 1,300,672 shares during the quarter. 1832 Asset Management L.P.’s holdings in Nutrien were worth $462,860,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Harbour Investments Inc. grew its holdings in Nutrien by 94.8% in the 1st quarter. Harbour Investments Inc. now owns 715 shares of the company’s stock valued at $35,000 after buying an additional 348 shares during the period. Allworth Financial LP grew its holdings in Nutrien by 117.1% in the 1st quarter. Allworth Financial LP now owns 938 shares of the company’s stock valued at $50,000 after buying an additional 506 shares during the period. Caitong International Asset Management Co. Ltd grew its holdings in Nutrien by 1,074.7% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,022 shares of the company’s stock valued at $51,000 after buying an additional 935 shares during the period. GAMMA Investing LLC grew its holdings in Nutrien by 4,866.7% in the 1st quarter. GAMMA Investing LLC now owns 1,043 shares of the company’s stock valued at $52,000 after buying an additional 1,022 shares during the period. Finally, HM Payson & Co. purchased a new stake in Nutrien in the 1st quarter valued at about $65,000. Hedge funds and other institutional investors own 63.10% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NTR. TD Securities boosted their target price on Nutrien from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Monday, August 11th. Scotiabank decreased their target price on Nutrien from $62.00 to $60.00 and set a “sector perform” rating for the company in a report on Monday, August 11th. Morgan Stanley boosted their target price on Nutrien from $60.00 to $65.00 and gave the stock an “equal weight” rating in a report on Thursday, June 26th. UBS Group decreased their target price on Nutrien from $64.00 to $63.00 and set a “neutral” rating for the company in a report on Thursday, August 7th. Finally, The Goldman Sachs Group boosted their target price on Nutrien from $53.00 to $59.00 and gave the stock a “sell” rating in a report on Friday, May 9th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Nutrien presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.65.

Nutrien Stock Up 0.9%

NYSE NTR opened at $57.5530 on Friday. The stock has a market cap of $27.97 billion, a PE ratio of 20.63, a P/E/G ratio of 0.98 and a beta of 0.81. Nutrien Ltd. has a fifty-two week low of $43.69 and a fifty-two week high of $65.08. The business has a 50 day moving average price of $59.31 and a two-hundred day moving average price of $55.63. The company has a quick ratio of 0.85, a current ratio of 1.33 and a debt-to-equity ratio of 0.39.

Nutrien (NYSE:NTR) last released its quarterly earnings results on Wednesday, August 6th. The company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.24. Nutrien had a return on equity of 6.51% and a net margin of 5.25%.The firm had revenue of $10.30 billion during the quarter, compared to analysts’ expectations of $10.40 billion. During the same quarter in the prior year, the business earned $2.34 EPS. Nutrien’s quarterly revenue was up 2.8% compared to the same quarter last year. As a group, sell-side analysts predict that Nutrien Ltd. will post 3.72 EPS for the current fiscal year.

Nutrien Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Monday, September 29th will be given a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, September 29th. Nutrien’s dividend payout ratio is presently 78.14%.

Nutrien 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.