Nutrien Ltd. $NTR Shares Sold by 1832 Asset Management L.P.

1832 Asset Management L.P. lessened its holdings in shares of Nutrien Ltd. (NYSE:NTR) by 12.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,318,695 shares of the company’s stock after selling 1,300,672 shares during the quarter. 1832 Asset Management L.P. owned about 1.91% of Nutrien worth $462,860,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Nutrien by 7.1% during the first quarter. Vanguard Group Inc. now owns 21,191,003 shares of the company’s stock worth $1,051,709,000 after purchasing an additional 1,412,503 shares in the last quarter. Mackenzie Financial Corp raised its holdings in Nutrien by 0.7% in the first quarter. Mackenzie Financial Corp now owns 7,855,609 shares of the company’s stock valued at $389,860,000 after acquiring an additional 54,918 shares in the last quarter. Deutsche Bank AG raised its holdings in Nutrien by 6.5% in the first quarter. Deutsche Bank AG now owns 7,568,805 shares of the company’s stock valued at $375,943,000 after acquiring an additional 463,748 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Nutrien by 48.7% in the first quarter. JPMorgan Chase & Co. now owns 6,992,535 shares of the company’s stock valued at $347,319,000 after acquiring an additional 2,291,518 shares in the last quarter. Finally, ARGA Investment Management LP raised its holdings in Nutrien by 7.7% in the first quarter. ARGA Investment Management LP now owns 6,510,844 shares of the company’s stock valued at $323,132,000 after acquiring an additional 467,254 shares in the last quarter. Institutional investors and hedge funds own 63.10% of the company’s stock.

Wall Street Analysts Forecast Growth

NTR has been the topic of several recent analyst reports. Bank of America increased their price target on shares of Nutrien from $60.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, May 14th. Jefferies Financial Group restated a “hold” rating and set a $66.00 target price (up from $63.00) on shares of Nutrien in a research report on Friday, July 11th. Oppenheimer increased their price target on Nutrien from $63.00 to $65.00 and gave the stock an “outperform” rating in a report on Tuesday, July 15th. UBS Group decreased their price target on Nutrien from $64.00 to $63.00 and set a “neutral” rating for the company in a report on Thursday, August 7th. Finally, Raymond James Financial downgraded Nutrien from an “outperform” rating to a “market perform” rating and set a $68.00 target price for the company. in a report on Tuesday, June 17th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Nutrien has an average rating of “Moderate Buy” and an average price target of $62.65.

Nutrien Trading Up 0.9%

NYSE:NTR opened at $57.5530 on Friday. The company has a market capitalization of $27.97 billion, a PE ratio of 20.63, a price-to-earnings-growth ratio of 0.98 and a beta of 0.81. The company has a quick ratio of 0.85, a current ratio of 1.33 and a debt-to-equity ratio of 0.39. Nutrien Ltd. has a 52-week low of $43.69 and a 52-week high of $65.08. The stock has a fifty day simple moving average of $59.31 and a 200-day simple moving average of $55.63.

Nutrien (NYSE:NTR) last released its quarterly earnings results on Wednesday, August 6th. The company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.24. Nutrien had a return on equity of 6.51% and a net margin of 5.25%.The business had revenue of $10.30 billion during the quarter, compared to the consensus estimate of $10.40 billion. During the same quarter in the previous year, the company posted $2.34 EPS. The business’s revenue was up 2.8% on a year-over-year basis. On average, equities research analysts expect that Nutrien Ltd. will post 3.72 earnings per share for the current fiscal year.

Nutrien Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Monday, September 29th will be paid a $0.545 dividend. The ex-dividend date of this dividend is Monday, September 29th. This represents a $2.18 annualized dividend and a yield of 3.8%. Nutrien’s payout ratio is presently 78.14%.

Nutrien 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.