Addenda Capital Inc. Sells 31,663 Shares of Nutrien Ltd. $NTR

Addenda Capital Inc. reduced its position in shares of Nutrien Ltd. (NYSE:NTR) by 21.0% in the third quarter, Holdings Channel reports. The firm owned 118,867 shares of the company’s stock after selling 31,663 shares during the period. Addenda Capital Inc.’s holdings in Nutrien were worth $6,979,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Norges Bank bought a new stake in shares of Nutrien during the 2nd quarter valued at about $395,842,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of Nutrien by 48.5% in the second quarter. Arrowstreet Capital Limited Partnership now owns 11,944,730 shares of the company’s stock worth $696,058,000 after buying an additional 3,900,755 shares during the period. Boston Partners purchased a new stake in shares of Nutrien during the second quarter valued at approximately $150,416,000. First Eagle Investment Management LLC grew its holdings in Nutrien by 14.0% in the 2nd quarter. First Eagle Investment Management LLC now owns 13,268,229 shares of the company’s stock worth $772,742,000 after acquiring an additional 1,627,328 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in Nutrien by 17.1% during the 1st quarter. Canada Pension Plan Investment Board now owns 8,786,309 shares of the company’s stock valued at $436,137,000 after purchasing an additional 1,284,181 shares during the period. Hedge funds and other institutional investors own 63.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on NTR. Zacks Research lowered shares of Nutrien from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 16th. Jefferies Financial Group reduced their price target on shares of Nutrien from $61.00 to $60.00 and set a “hold” rating for the company in a research report on Tuesday, September 9th. Wells Fargo & Company started coverage on shares of Nutrien in a research note on Tuesday, November 11th. They issued an “equal weight” rating and a $64.00 price target for the company. Scotiabank dropped their price target on Nutrien from $65.00 to $63.00 and set a “sector perform” rating on the stock in a research note on Monday, November 10th. Finally, UBS Group lowered their price objective on shares of Nutrien from $63.00 to $58.00 and set a “neutral” rating on the stock in a research note on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $63.17.

Nutrien Price Performance

NYSE:NTR opened at $61.65 on Friday. The company has a quick ratio of 0.89, a current ratio of 1.41 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 business’s 50-day simple moving average is $58.09 and its two-hundred day simple moving average is $58.60. The stock has a market cap of $29.80 billion, a PE ratio of 16.62, a P/E/G ratio of 0.73 and a beta of 0.72.

Nutrien (NYSE:NTR) last released 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 firm had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.59 billion. During the same quarter last year, the business posted $0.39 earnings per share. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. As a group, analysts forecast that Nutrien Ltd. will post 3.72 EPS for the current fiscal year.

Nutrien Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Wednesday, December 31st will be paid a $0.545 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $2.18 annualized dividend and a yield of 3.5%. Nutrien’s payout ratio is presently 58.76%.

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.