CIBC Asset Management Inc Trims Holdings in Nutrien Ltd. $NTR

CIBC Asset Management Inc reduced its holdings in Nutrien Ltd. (NYSE:NTR) by 68.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 964,039 shares of the company’s stock after selling 2,125,062 shares during the period. CIBC Asset Management Inc owned about 0.20% of Nutrien worth $56,179,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NTR. Intech Investment Management LLC boosted its stake in shares of Nutrien by 284.0% during the 1st quarter. Intech Investment Management LLC now owns 69,128 shares of the company’s stock worth $3,430,000 after acquiring an additional 51,126 shares in the last quarter. Belpointe Asset Management LLC acquired a new position in Nutrien in the 1st quarter worth about $311,000. Covea Finance boosted its position in Nutrien by 16.5% during the second quarter. Covea Finance now owns 73,500 shares of the company’s stock worth $4,265,000 after purchasing an additional 10,400 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Nutrien by 1.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 736,996 shares of the company’s stock worth $36,607,000 after purchasing an additional 7,194 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its holdings in Nutrien by 20.2% in the second quarter. Advisors Asset Management Inc. now owns 69,551 shares of the company’s stock valued at $4,051,000 after purchasing an additional 11,704 shares during the period. Institutional investors and hedge funds own 63.10% of the company’s stock.

Nutrien Stock Performance

NYSE:NTR opened at $59.09 on Thursday. The company has a market cap of $28.57 billion, a P/E ratio of 15.93, a P/E/G ratio of 0.68 and a beta of 0.72. Nutrien Ltd. has a twelve month low of $43.69 and a twelve month high of $65.08. The company’s 50-day moving average price is $57.87 and its 200-day moving average price is $58.48. The company has a current ratio of 1.41, a quick ratio of 0.89 and a debt-to-equity ratio of 0.39.

Nutrien (NYSE:NTR) last announced its quarterly earnings data on Wednesday, November 5th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $5.59 billion. During the same quarter in the prior year, the company earned $0.39 EPS. Nutrien’s revenue was up 12.3% compared to the same quarter last year. On average, sell-side analysts forecast that Nutrien Ltd. will post 3.72 earnings per share for the current fiscal year.

Nutrien Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Wednesday, December 31st will be given a dividend of $0.545 per share. The ex-dividend date is Wednesday, December 31st. This represents a $2.18 dividend on an annualized basis and a yield of 3.7%. Nutrien’s dividend payout ratio (DPR) is presently 58.76%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NTR. Wall Street Zen lowered Nutrien from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 5th. Mizuho decreased their price objective on shares of Nutrien from $64.00 to $61.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. Scotiabank dropped their target price on shares of Nutrien from $65.00 to $63.00 and set a “sector perform” rating on the stock in a research report on Monday, November 10th. UBS Group reduced their price target on shares of Nutrien from $63.00 to $58.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. Finally, Wells Fargo & Company initiated coverage on Nutrien in a report on Tuesday, November 11th. They issued an “equal weight” rating and a $64.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $62.94.

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.