CIBC Asset Management Inc Sells 197,559 Shares of Nutrien Ltd. $NTR

CIBC Asset Management Inc reduced its holdings in Nutrien Ltd. (NYSE:NTR) by 20.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 766,480 shares of the company’s stock after selling 197,559 shares during the quarter. CIBC Asset Management Inc owned approximately 0.16% of Nutrien worth $44,969,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Root Financial Partners LLC acquired a new stake in Nutrien during the 3rd quarter valued at approximately $37,000. Huntington National Bank boosted its stake 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 during the last quarter. Geneos Wealth Management Inc. increased its position in shares of Nutrien by 42.4% during the second quarter. Geneos Wealth Management Inc. now owns 735 shares of the company’s stock worth $43,000 after buying an additional 219 shares during the period. Trust Co. of Toledo NA OH acquired a new stake in shares of Nutrien during the second quarter worth $49,000. Finally, Acadian Asset Management LLC bought a new position in Nutrien during the first quarter worth $54,000. Institutional investors own 63.10% of the company’s stock.

Nutrien Price Performance

NTR opened at $70.88 on Friday. Nutrien Ltd. has a 1 year low of $45.78 and a 1 year high of $70.92. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.41 and a quick ratio of 0.89. The company has a market capitalization of $34.16 billion, a price-to-earnings ratio of 19.10 and a beta of 0.72. The firm’s fifty day moving average price is $61.43 and its two-hundred day moving average price is $59.19.

Nutrien (NYSE:NTR) last released its quarterly 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 company had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.59 billion. During the same period last year, the firm earned $0.39 earnings per share. The firm’s revenue was up 12.3% on a year-over-year basis. As a group, analysts anticipate that Nutrien Ltd. will post 3.72 earnings per share for the current fiscal year.

Nutrien Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 16th. Investors 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 of this dividend was Wednesday, December 31st. Nutrien’s payout ratio is 58.76%.

Wall Street Analysts Forecast Growth

NTR has been the subject of several research analyst reports. Wall Street Zen lowered Nutrien from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. Morgan Stanley raised Nutrien from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $70.00 to $77.00 in a research note on Wednesday, January 14th. Royal Bank Of Canada boosted their price target on Nutrien from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday. Wells Fargo & Company initiated coverage on shares of Nutrien in a research report on Tuesday, November 11th. They set an “equal weight” rating and a $64.00 price objective for the company. Finally, Bank of America reiterated a “neutral” rating and issued a $67.00 price objective on shares of Nutrien in a research note on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Nutrien presently has an average rating of “Hold” and a consensus target price of $65.71.

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.