Nutrien Ltd. $NTR Stock Sold by Beutel Goodman & Co Ltd.

Beutel Goodman & Co Ltd. cut its stake in Nutrien Ltd. (NYSE:NTR) by 8.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,948,022 shares of the company’s stock after selling 259,228 shares during the period. Nutrien makes up approximately 1.6% of Beutel Goodman & Co Ltd.’s holdings, making the stock its 27th largest holding. Beutel Goodman & Co Ltd.’s holdings in Nutrien were worth $207,519,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Fulcrum Asset Management LLP boosted its stake in shares of Nutrien by 54.4% during the 3rd quarter. Fulcrum Asset Management LLP now owns 9,076 shares of the company’s stock worth $643,000 after acquiring an additional 3,196 shares in the last quarter. Kestra Advisory Services LLC grew its holdings in shares of Nutrien by 3.7% in the 3rd quarter. Kestra Advisory Services LLC now owns 20,247 shares of the company’s stock worth $1,422,000 after acquiring an additional 731 shares during the period. Provenance Wealth Advisors LLC raised its holdings in Nutrien by 39.6% during the third quarter. Provenance Wealth Advisors LLC now owns 747 shares of the company’s stock worth $52,000 after purchasing an additional 212 shares during the last quarter. Associated Banc Corp acquired a new position in Nutrien during the third quarter worth $329,000. Finally, Integrity Alliance LLC. boosted its position in Nutrien by 2.0% during the third quarter. Integrity Alliance LLC. now owns 8,292 shares of the company’s stock worth $584,000 after purchasing an additional 159 shares in the last quarter. 63.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on NTR. Mizuho lowered their target price on Nutrien from $77.00 to $75.00 and set a “neutral” rating on the stock in a report on Tuesday, July 14th. Jefferies Financial Group restated a “hold” rating and issued a $71.00 price target on shares of Nutrien in a research report on Monday, October 12th. Weiss Ratings downgraded Nutrien from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, October 19th. Freedom Broker initiated coverage on shares of Nutrien in a research report on Tuesday, October 27th. They issued a “hold” rating and a $78.00 price objective on the stock. Finally, National Bank Financial decreased their price objective on shares of Nutrien from $76.00 to $74.00 and set an “outperform” rating on the stock in a research report on Monday, August 10th. Sixteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $79.24.

Nutrien Stock Up 1.1%

NTR stock opened at $72.28 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.39 and a quick ratio of 0.86. The company’s 50 day simple moving average is $72.83 and its 200-day simple moving average is $71.13. Nutrien Ltd. has a 12 month low of $54.52 and a 12 month high of $85.36. The firm has a market capitalization of $34.35 billion, a PE ratio of 17.00, a P/E/G ratio of 0.80 and a beta of 0.67.

Nutrien (NYSE:NTR) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.13). Nutrien had a return on equity of 8.02% and a net margin of 7.78%. The company had revenue of $5.69 billion for the quarter, compared to analyst estimates of $5.66 billion. During the same quarter in the prior year, the firm earned $0.97 earnings per share. The company’s revenue for the quarter was up .9% on a year-over-year basis. Equities analysts expect that Nutrien Ltd. will post 4.53 earnings per share for the current fiscal year.

Nutrien Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 31st will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Thursday, December 31st. Nutrien’s dividend payout ratio is 48.03%.

Nutrien Company Profile

Nutrien Ltd. is a Canadian agricultural inputs and services company headquartered in Saskatoon, Saskatchewan. Formed in 2018 through the merger of Agrium and Potash Corporation of Saskatchewan, it serves farmers and other customers through fertilizer production and agricultural retail operations.

The company produces potash, nitrogen and phosphate fertilizers, which are used to support crop growth. It also sells crop protection products and seeds, and provides growers with agronomic advice and other services.

Nutrien’s retail business operates primarily in North America, with additional operations in South America and Australia.