Addenda Capital Inc. Cuts Stock Holdings in Nutrien Ltd. $NTR

Addenda Capital Inc. trimmed its stake in shares of Nutrien Ltd. (NYSE:NTR) by 10.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 105,900 shares of the company’s stock after selling 12,967 shares during the period. Addenda Capital Inc.’s holdings in Nutrien were worth $6,536,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of NTR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Nutrien by 65.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,224 shares of the company’s stock valued at $1,253,000 after acquiring an additional 9,950 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of Nutrien by 6.2% in the 1st quarter. NewEdge Advisors LLC now owns 6,907 shares of the company’s stock worth $343,000 after buying an additional 404 shares in the last quarter. Focus Partners Wealth purchased a new position in shares of Nutrien in the 1st quarter worth $516,000. Acadian Asset Management LLC purchased a new position in shares of Nutrien in the 1st quarter worth $54,000. Finally, Prudential Financial Inc. purchased a new position in shares of Nutrien in the 2nd quarter worth $203,000. 63.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Weiss Ratings raised shares of Nutrien from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, March 2nd. JPMorgan Chase & Co. lifted their price objective on shares of Nutrien from $68.00 to $78.00 and gave the stock an “overweight” rating in a research note on Friday, February 20th. Morgan Stanley lifted their price objective on shares of Nutrien from $77.00 to $93.00 and gave the stock an “overweight” rating in a research note on Wednesday. BMO Capital Markets lifted their price objective on shares of Nutrien from $85.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 18th. Finally, Jefferies Financial Group raised shares of Nutrien from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $74.00 to $96.00 in a research note on Thursday, March 12th. Eleven research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $78.50.

Nutrien Price Performance

Nutrien stock opened at $74.95 on Thursday. The firm has a 50-day moving average price of $74.00 and a 200-day moving average price of $65.00. The firm has a market capitalization of $36.05 billion, a PE ratio of 16.08 and a beta of 0.69. The company has a current ratio of 1.34, a quick ratio of 0.70 and a debt-to-equity ratio of 0.37. Nutrien Ltd. has a 12-month low of $46.50 and a 12-month high of $85.36.

Nutrien (NYSE:NTR) last released its earnings results on Wednesday, February 18th. The company reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.04). The firm had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $5.26 billion. Nutrien had a return on equity of 8.41% and a net margin of 8.43%.Nutrien’s revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.31 EPS. As a group, equities research analysts forecast that Nutrien Ltd. will post 3.72 EPS for the current year.

Nutrien Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 16th. Stockholders of record on Tuesday, March 31st will be issued a $0.55 dividend. This is a boost from Nutrien’s previous quarterly dividend of $0.55. The ex-dividend date is Tuesday, March 31st. This represents a $2.20 annualized dividend and a dividend yield of 2.9%. Nutrien’s dividend payout ratio (DPR) is 47.21%.

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.