Raymond James & Associates Trims Holdings in Nutrien Ltd. (NYSE:NTR)

Raymond James & Associates lowered its holdings in Nutrien Ltd. (NYSE:NTR) by 3.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 217,863 shares of the company’s stock after selling 8,765 shares during the quarter. Raymond James & Associates’ holdings in Nutrien were worth $11,091,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in NTR. International Assets Investment Management LLC purchased a new stake in Nutrien in the fourth quarter worth $3,433,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Nutrien in the 4th quarter worth about $61,000. Intact Investment Management Inc. boosted its stake in shares of Nutrien by 8.5% during the 4th quarter. Intact Investment Management Inc. now owns 757,409 shares of the company’s stock valued at $42,672,000 after purchasing an additional 59,620 shares in the last quarter. Cadence Wealth Management LLC increased its position in shares of Nutrien by 6.6% during the fourth quarter. Cadence Wealth Management LLC now owns 9,436 shares of the company’s stock valued at $532,000 after buying an additional 581 shares during the period. Finally, Capital Investment Counsel Inc increased its position in shares of Nutrien by 2.8% during the fourth quarter. Capital Investment Counsel Inc now owns 8,856 shares of the company’s stock valued at $501,000 after buying an additional 240 shares during the period. 63.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NTR has been the topic of several research reports. Hsbc Global Res cut Nutrien from a “hold” rating to a “moderate sell” rating in a research report on Friday, August 2nd. Scotiabank dropped their price target on Nutrien from $66.00 to $59.00 and set a “sector outperform” rating on the stock in a research report on Monday, August 12th. Berenberg Bank raised Nutrien from a “hold” rating to a “buy” rating and raised their price objective for the company from $60.00 to $66.00 in a research report on Monday, April 29th. Piper Sandler dropped their target price on shares of Nutrien from $56.00 to $55.00 and set an “underweight” rating on the stock in a report on Tuesday, June 11th. Finally, BMO Capital Markets decreased their price target on shares of Nutrien from $80.00 to $75.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $63.78.

Nutrien Price Performance

Shares of NYSE NTR opened at $48.24 on Friday. The firm has a market cap of $23.86 billion, a P/E ratio of 28.21, a PEG ratio of 1.56 and a beta of 0.83. Nutrien Ltd. has a twelve month low of $44.90 and a twelve month high of $65.69. The company has a quick ratio of 0.82, a current ratio of 1.26 and a debt-to-equity ratio of 0.37. The company has a 50 day moving average of $49.43 and a 200 day moving average of $52.43.

Nutrien (NYSE:NTR) last posted its earnings results on Wednesday, August 7th. The company reported $2.34 EPS for the quarter, topping analysts’ consensus estimates of $2.19 by $0.15. The business had revenue of $10.16 billion during the quarter, compared to analyst estimates of $10.82 billion. Nutrien had a return on equity of 6.91% and a net margin of 2.97%. The company’s quarterly revenue was down 12.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.53 EPS. As a group, research analysts expect that Nutrien Ltd. will post 3.74 EPS for the current fiscal year.

Nutrien Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Friday, September 27th will be paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 4.48%. The ex-dividend date of this dividend is Friday, September 27th. Nutrien’s dividend payout ratio is currently 126.32%.

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.