Addenda Capital Inc. Has $6.98 Million Position in Nutrien Ltd. $NTR

Addenda Capital Inc. decreased its position in shares of Nutrien Ltd. (NYSE:NTR) by 21.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 118,867 shares of the company’s stock after selling 31,663 shares during the period. Addenda Capital Inc.’s holdings in Nutrien were worth $6,979,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Huntington National Bank boosted its holdings in shares of Nutrien by 72.6% in the 2nd quarter. Huntington National Bank now owns 656 shares of the company’s stock valued at $38,000 after purchasing an additional 276 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in Nutrien by 42.4% in the second quarter. Geneos Wealth Management Inc. now owns 735 shares of the company’s stock valued at $43,000 after buying an additional 219 shares in the last quarter. Trust Co. of Toledo NA OH acquired a new position in Nutrien in the 2nd quarter worth about $49,000. Acadian Asset Management LLC bought a new position in Nutrien in the 1st quarter valued at approximately $54,000. Finally, AlphaCore Capital LLC acquired a new stake in Nutrien during the 2nd quarter worth approximately $56,000. 63.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. UBS Group cut their target price on Nutrien from $63.00 to $58.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. Wall Street Zen lowered Nutrien from a “strong-buy” rating to a “buy” rating in a report on Friday, September 5th. Jefferies Financial Group cut their price target on Nutrien from $61.00 to $60.00 and set a “hold” rating for the company in a research note on Tuesday, September 9th. Wells Fargo & Company initiated coverage on Nutrien in a report on Tuesday, November 11th. They set an “equal weight” rating and a $64.00 price objective for the company. Finally, Bank of America restated a “neutral” rating and issued a $67.00 target price on shares of Nutrien in a report on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Nutrien presently has an average rating of “Hold” and a consensus target price of $63.17.

Nutrien Stock Down 2.6%

Shares of NYSE:NTR opened at $61.65 on Friday. The company has a market capitalization of $29.80 billion, a PE ratio of 16.62, a price-to-earnings-growth ratio of 0.73 and a beta of 0.72. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.41 and a quick ratio of 0.89. Nutrien Ltd. has a 1 year low of $43.69 and a 1 year high of $65.08. The business has a fifty day moving average price of $58.09 and a two-hundred day moving average price of $58.60.

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

Nutrien Announces Dividend

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