Nutrien Ltd. $NTR Stock Position Decreased by Cardinal Capital Management Inc.

Cardinal Capital Management Inc. cut its stake in shares of Nutrien Ltd. (NYSE:NTR) by 2.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 578,782 shares of the company’s stock after selling 13,460 shares during the period. Cardinal Capital Management Inc. owned approximately 0.12% of Nutrien worth $34,011,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of NTR. Orion Porfolio Solutions LLC acquired a new stake in Nutrien during the 2nd quarter worth about $212,000. Neuberger Berman Group LLC raised its holdings in shares of Nutrien by 22.2% during the second quarter. Neuberger Berman Group LLC now owns 231,849 shares of the company’s stock valued at $13,484,000 after acquiring an additional 42,142 shares during the period. Marex Group plc acquired a new stake in shares of Nutrien during the second quarter valued at approximately $2,353,000. Geneos Wealth Management Inc. lifted its position in shares of Nutrien by 42.4% in the 2nd quarter. Geneos Wealth Management Inc. now owns 735 shares of the company’s stock valued at $43,000 after acquiring an additional 219 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. boosted its stake in Nutrien by 15.8% in the 2nd quarter. Nikko Asset Management Americas Inc. now owns 97,957 shares of the company’s stock worth $5,703,000 after purchasing an additional 13,364 shares during the period. 63.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Oppenheimer reissued an “outperform” rating on shares of Nutrien in a research note on Wednesday, October 22nd. National Bank Financial assumed coverage on Nutrien in a research report on Friday, September 5th. They set a “sector perform” rating on the stock. Wells Fargo & Company started coverage on Nutrien in a research report on Tuesday, November 11th. They set an “equal weight” rating and a $64.00 price objective for the company. Scotiabank lowered their target price on Nutrien from $65.00 to $63.00 and set a “sector perform” rating on the stock in a research note on Monday, November 10th. Finally, Jefferies Financial Group reduced their price target on shares of Nutrien from $61.00 to $60.00 and set a “hold” rating for the company in a research report on Tuesday, September 9th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Nutrien currently has an average rating of “Hold” and a consensus target price of $62.94.

Nutrien Price Performance

NYSE NTR opened at $61.93 on Tuesday. Nutrien Ltd. has a 1 year low of $43.69 and a 1 year high of $65.08. The company has a fifty day simple moving average of $58.00 and a 200 day simple moving average of $58.53. The company has a current ratio of 1.41, a quick ratio of 0.89 and a debt-to-equity ratio of 0.39. The company has a market cap of $29.94 billion, a P/E ratio of 16.69, a P/E/G ratio of 0.72 and a beta of 0.72.

Nutrien (NYSE:NTR) last released its earnings results on Wednesday, November 5th. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.06. The firm had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.59 billion. Nutrien had a net margin of 6.79% and a return on equity of 7.54%. The business’s revenue was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.39 EPS. On average, sell-side analysts predict that Nutrien Ltd. will post 3.72 EPS for the current year.

Nutrien Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Stockholders of record on Wednesday, December 31st will be given a $0.545 dividend. This represents a $2.18 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Wednesday, December 31st. Nutrien’s dividend payout ratio is currently 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.