Nutrien Ltd. $NTR Stock Holdings Trimmed by Letko Brosseau & Associates Inc.

Letko Brosseau & Associates Inc. reduced its holdings in shares of Nutrien Ltd. (NYSE:NTR) by 0.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 2,649,039 shares of the company’s stock after selling 12,110 shares during the quarter. Nutrien accounts for approximately 2.4% of Letko Brosseau & Associates Inc.’s investment portfolio, making the stock its 15th biggest holding. Letko Brosseau & Associates Inc.’s holdings in Nutrien were worth $186,473,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Wellington Management Group LLP purchased a new position in shares of Nutrien in the 2nd quarter valued at about $654,081,000. Deutsche Bank AG acquired a new stake in shares of Nutrien during the 2nd quarter worth about $588,720,000. Dimensional Fund Advisors LP lifted its stake in Nutrien by 4.3% during the first quarter. Dimensional Fund Advisors LP now owns 5,872,194 shares of the company’s stock worth $443,151,000 after purchasing an additional 239,946 shares during the last quarter. TD Waterhouse Canada Inc. lifted its stake in Nutrien by 10.5% during the third quarter. TD Waterhouse Canada Inc. now owns 6,096,905 shares of the company’s stock worth $424,331,000 after purchasing an additional 578,470 shares during the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new stake in Nutrien during the second quarter worth approximately $375,178,000. 63.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NTR has been the subject of a number of research analyst reports. Barclays lowered their price target on Nutrien from $81.00 to $78.00 and set an “overweight” rating for the company in a report on Monday, August 10th. BNP Paribas Exane raised shares of Nutrien from a “neutral” rating to an “outperform” rating and set a $80.00 price objective on the stock in a report on Tuesday, July 28th. Oppenheimer cut their price objective on shares of Nutrien from $80.00 to $78.00 and set an “outperform” rating on the stock in a report on Thursday, October 22nd. Freedom Broker reduced their price objective on shares of Nutrien from $78.00 to $76.00 and set a “hold” rating for the company in a research report on Wednesday. Finally, National Bank Financial lowered their target price on shares of Nutrien from $76.00 to $74.00 and set an “outperform” rating for the company in a report on Monday, August 10th. Sixteen equities research 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $79.19.

Nutrien Stock Performance

NYSE NTR opened at $71.22 on Friday. The company has a fifty day moving average of $72.46 and a two-hundred day moving average of $71.16. The company has a market capitalization of $33.85 billion, a PE ratio of 16.90, a P/E/G ratio of 0.79 and a beta of 0.67. Nutrien Ltd. has a 1 year low of $54.52 and a 1 year high of $85.36. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.41 and a quick ratio of 0.89.

Nutrien (NYSE:NTR) last posted its earnings results on Wednesday, November 4th. The company reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.13). Nutrien had a return on equity of 8.00% and a net margin of 7.78%. The firm had revenue of $5.69 billion for the quarter, compared to analyst estimates of $5.66 billion. During the same quarter last year, the firm posted $0.97 EPS. The firm’s revenue for the quarter was up .9% on a year-over-year basis. As a group, analysts expect that Nutrien Ltd. will post 4.53 earnings per share for the current year.

Nutrien Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Investors of record on Thursday, December 31st will be given a $0.55 dividend. The ex-dividend date of this dividend is Thursday, December 31st. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.1%. Nutrien’s dividend payout ratio is 48.03%.

About Nutrien

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.