JPMorgan Chase & Co. Trims Stock Position in Nutrien Ltd. $NTR

JPMorgan Chase & Co. decreased its position in Nutrien Ltd. (NYSE:NTR) by 63.9% in the second quarter, Holdings Channel reports. The firm owned 2,525,264 shares of the company’s stock after selling 4,467,271 shares during the period. JPMorgan Chase & Co.’s holdings in Nutrien were worth $147,071,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of NTR. Harbour Investments Inc. raised its position in Nutrien by 94.8% during the 1st quarter. Harbour Investments Inc. now owns 715 shares of the company’s stock valued at $35,000 after purchasing an additional 348 shares in the last quarter. Huntington National Bank grew its position in shares of Nutrien by 72.6% during the 2nd quarter. Huntington National Bank now owns 656 shares of the company’s stock worth $38,000 after buying an additional 276 shares in the last quarter. Trust Co. of Toledo NA OH purchased a new position in shares of Nutrien during the second quarter valued at $49,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of Nutrien by 1,074.7% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,022 shares of the company’s stock valued at $51,000 after acquiring an additional 935 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new stake in shares of Nutrien in the first quarter valued at about $54,000. Institutional investors own 63.10% of the company’s stock.

Analyst Upgrades and Downgrades

NTR has been the topic of several recent research reports. UBS Group dropped their target price on shares of Nutrien from $63.00 to $58.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. Scotiabank dropped their price objective on shares of Nutrien from $65.00 to $63.00 and set a “sector perform” rating on the stock in a research note on Monday, November 10th. Oppenheimer reissued an “outperform” rating on shares of Nutrien in a research note on Wednesday, October 22nd. Jefferies Financial Group dropped their target price on Nutrien from $61.00 to $60.00 and set a “hold” rating on the stock in a research report on Tuesday, September 9th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Nutrien in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $62.94.

Nutrien Price Performance

Shares of NTR opened at $57.38 on Thursday. The company has a 50 day moving average of $57.53 and a two-hundred day moving average of $58.40. 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 Ltd. has a twelve month low of $43.69 and a twelve month high of $65.08. The company has a market cap of $27.74 billion, a price-to-earnings ratio of 20.57, a price-to-earnings-growth ratio of 0.92 and a beta of 0.83.

Nutrien (NYSE:NTR) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.06. The business had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.59 billion. Nutrien had a return on equity of 6.51% and a net margin of 5.25%.The business’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.39 earnings per share. As a group, analysts predict that Nutrien Ltd. will post 3.72 earnings per share for the current fiscal year.

Nutrien Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Wednesday, December 31st will be paid a $0.545 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $2.18 dividend on an annualized basis and a yield of 3.8%. Nutrien’s dividend payout ratio (DPR) is 58.76%.

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.