CORDA Investment Management LLC. Sells 9,179 Shares of Nutrien Ltd. $NTR

CORDA Investment Management LLC. reduced its position in Nutrien Ltd. (NYSE:NTR) by 1.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 536,435 shares of the company’s stock after selling 9,179 shares during the quarter. Nutrien makes up about 2.8% of CORDA Investment Management LLC.’s holdings, making the stock its 15th largest position. CORDA Investment Management LLC. owned about 0.11% of Nutrien worth $40,479,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Montag A & Associates Inc. grew its stake in shares of Nutrien by 310.7% during the 4th quarter. Montag A & Associates Inc. now owns 423 shares of the company’s stock worth $26,000 after acquiring an additional 320 shares during the period. Evolution Wealth Management Inc. bought a new stake in Nutrien in the 1st quarter valued at about $32,000. Sfam LLC bought a new stake in Nutrien in the 4th quarter valued at about $37,000. Eastern Bank lifted its holdings in Nutrien by 133.0% during the fourth quarter. Eastern Bank now owns 699 shares of the company’s stock valued at $43,000 after purchasing an additional 399 shares during the last quarter. Finally, Harbour Investments Inc. boosted its position in Nutrien by 97.2% during the fourth quarter. Harbour Investments Inc. now owns 704 shares of the company’s stock worth $43,000 after purchasing an additional 347 shares during the period. 63.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Royal Bank Of Canada lifted their target price on shares of Nutrien from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 7th. UBS Group cut their price objective on shares of Nutrien from $67.00 to $65.00 and set a “sell” rating for the company in a report on Monday, May 11th. BMO Capital Markets lifted their price objective on shares of Nutrien from $85.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, March 18th. Scotia upgraded shares of Nutrien from a “sector perform” rating to a “sector outperform” rating and set a $80.00 price objective for the company in a research note on Tuesday, June 30th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Nutrien from $78.00 to $80.00 and gave the company an “overweight” rating in a report on Monday, May 11th. Thirteen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $80.94.

Nutrien Price Performance

NYSE:NTR opened at $65.45 on Monday. The firm has a market capitalization of $31.37 billion, a price-to-earnings ratio of 13.33, a P/E/G ratio of 0.63 and a beta of 0.62. Nutrien Ltd. has a 52-week low of $53.03 and a 52-week high of $85.36. The stock has a fifty day moving average of $67.39 and a 200 day moving average of $69.74. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.59 and a current ratio of 1.24.

Nutrien (NYSE:NTR) last announced its earnings results on Wednesday, May 6th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.03. The business had revenue of $6.05 billion for the quarter, compared to analyst estimates of $5.30 billion. Nutrien had a return on equity of 8.84% and a net margin of 8.58%.The company’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.11 EPS. On average, research analysts expect that Nutrien Ltd. will post 5.19 EPS for the current fiscal year.

Nutrien Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Tuesday, June 30th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, June 30th. Nutrien’s dividend payout ratio (DPR) is currently 44.81%.

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.