M&T Bank Corp Sells 394 Shares of Nutrien Ltd. (NYSE:NTR)

M&T Bank Corp reduced its holdings in shares of Nutrien Ltd. (NYSE:NTR) by 2.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,233 shares of the company’s stock after selling 394 shares during the quarter. M&T Bank Corp’s holdings in Nutrien were worth $657,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its position in Nutrien by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 19,778,500 shares of the company’s stock valued at $885,009,000 after purchasing an additional 325,210 shares during the last quarter. Dodge & Cox raised its position in Nutrien by 0.3% in the fourth quarter. Dodge & Cox now owns 12,523,259 shares of the company’s stock valued at $560,416,000 after purchasing an additional 40,800 shares during the last quarter. Deutsche Bank AG raised its position in Nutrien by 11.3% in the fourth quarter. Deutsche Bank AG now owns 7,105,057 shares of the company’s stock valued at $317,951,000 after purchasing an additional 721,935 shares during the last quarter. ARGA Investment Management LP raised its position in Nutrien by 7.7% in the first quarter. ARGA Investment Management LP now owns 6,510,844 shares of the company’s stock valued at $323,132,000 after purchasing an additional 467,254 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Nutrien by 1.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 5,627,597 shares of the company’s stock valued at $252,108,000 after purchasing an additional 76,085 shares during the last quarter. 63.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NTR has been the subject of several research reports. The Goldman Sachs Group increased their target price on Nutrien from $53.00 to $59.00 and gave the company a “sell” rating in a research report on Friday, May 9th. Jefferies Financial Group restated a “hold” rating and set a $66.00 price objective (up from $63.00) on shares of Nutrien in a research report on Friday, July 11th. TD Securities raised their price objective on Nutrien from $64.00 to $67.00 and gave the stock a “buy” rating in a research report on Monday, May 12th. Bank of America raised their price objective on Nutrien from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, May 14th. Finally, Barclays raised their price objective on Nutrien from $61.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Monday, July 7th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Nutrien has a consensus rating of “Hold” and a consensus target price of $62.61.

Nutrien Stock Performance

Shares of Nutrien stock opened at $59.92 on Wednesday. The business’s fifty day simple moving average is $59.57 and its 200 day simple moving average is $54.12. The company has a current ratio of 1.22, a quick ratio of 0.59 and a debt-to-equity ratio of 0.41. Nutrien Ltd. has a 12 month low of $43.70 and a 12 month high of $65.08. The firm has a market capitalization of $29.18 billion, a P/E ratio of 56.00, a price-to-earnings-growth ratio of 1.14 and a beta of 0.80.

Nutrien (NYSE:NTR) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.24). Nutrien had a return on equity of 6.08% and a net margin of 2.05%. The business had revenue of $4.67 billion during the quarter, compared to analysts’ expectations of $5.16 billion. During the same period in the prior year, the firm posted $0.46 EPS. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. As a group, analysts anticipate that Nutrien Ltd. will post 3.72 EPS for the current year.

Nutrien Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Shareholders of record on Monday, June 30th will be paid a $0.545 dividend. The ex-dividend date is Monday, June 30th. This represents a $2.18 annualized dividend and a dividend yield of 3.64%. Nutrien’s payout ratio is presently 203.74%.

About Nutrien

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.