Intact Investment Management Inc. Sells 64,240 Shares of Nutrien Ltd. $NTR

Intact Investment Management Inc. cut its stake in Nutrien Ltd. (NYSE:NTR) by 5.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,125,045 shares of the company’s stock after selling 64,240 shares during the quarter. Nutrien comprises about 2.0% of Intact Investment Management Inc.’s holdings, making the stock its 12th largest position. Intact Investment Management Inc. owned 0.23% of Nutrien worth $66,077,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the stock. Root Financial Partners LLC purchased a new position in Nutrien during the 3rd quarter valued at about $37,000. Huntington National Bank boosted its position in shares of Nutrien by 72.6% in the second quarter. Huntington National Bank now owns 656 shares of the company’s stock valued at $38,000 after acquiring an additional 276 shares during the period. Geneos Wealth Management Inc. grew its stake in Nutrien by 42.4% during the second 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. Trust Co. of Toledo NA OH bought a new stake in Nutrien during the 2nd quarter worth approximately $49,000. Finally, AlphaCore Capital LLC bought a new stake in Nutrien during the 2nd quarter worth approximately $56,000. Hedge funds and other institutional investors own 63.10% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Wall Street Zen downgraded shares of Nutrien from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. UBS Group lifted their price objective on Nutrien from $58.00 to $63.00 and gave the company a “neutral” rating in a research note on Monday, January 12th. Weiss Ratings restated a “hold (c)” rating on shares of Nutrien in a research report on Monday, December 29th. Mizuho upped their target price on Nutrien from $65.00 to $68.00 and gave the stock a “neutral” rating in a research note on Friday, January 16th. Finally, Wells Fargo & Company initiated coverage on Nutrien in a research report on Tuesday, November 11th. They set an “equal weight” rating and a $64.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $65.71.

Nutrien Trading Up 4.1%

NYSE NTR opened at $70.88 on Monday. The company has a quick ratio of 0.89, a current ratio of 1.41 and a debt-to-equity ratio of 0.39. The stock’s 50-day simple moving average is $61.43 and its two-hundred day simple moving average is $59.17. Nutrien Ltd. has a twelve month low of $45.78 and a twelve month high of $70.92. The company has a market capitalization of $34.16 billion, a price-to-earnings ratio of 19.10 and a beta of 0.72.

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

Nutrien Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Wednesday, December 31st were issued a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Wednesday, December 31st. Nutrien’s payout ratio is presently 58.76%.

About Nutrien

Nutrien Ltd. is a global fertilizer and agricultural-services company headquartered in Saskatoon, Saskatchewan, Canada. The company is publicly traded and operates across the farm input value chain, combining upstream fertilizer production with a broad retail and services platform aimed at supporting crop production worldwide. Nutrien’s business model integrates the manufacture and distribution of crop nutrients with on-the-ground agronomic support for growers and agricultural businesses.

Nutrien produces and supplies the three primary fertilizer nutrients—potash, nitrogen and phosphate—through its wholesale operations, and markets a wide range of crop inputs including seeds and crop protection products.