Nutrien Ltd. $NTR Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia cut its stake in Nutrien Ltd. (NYSE:NTR) by 15.3% in the 1st quarter, HoldingsChannel reports. The fund owned 1,689,740 shares of the company’s stock after selling 305,015 shares during the period. Bank of Nova Scotia’s holdings in Nutrien were worth $127,520,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Montag A & Associates Inc. increased its stake in Nutrien by 310.7% in the 4th quarter. Montag A & Associates Inc. now owns 423 shares of the company’s stock worth $26,000 after purchasing an additional 320 shares in the last quarter. Evolution Wealth Management Inc. acquired a new stake in shares of Nutrien during the first quarter valued at approximately $32,000. Sfam LLC acquired a new stake in shares of Nutrien during the fourth quarter valued at approximately $37,000. Eastern Bank lifted its position in shares of Nutrien by 133.0% in the 4th quarter. Eastern Bank now owns 699 shares of the company’s stock valued at $43,000 after acquiring an additional 399 shares in the last quarter. Finally, Harbour Investments Inc. lifted its position in shares of Nutrien by 97.2% in the 4th quarter. Harbour Investments Inc. now owns 704 shares of the company’s stock valued at $43,000 after acquiring an additional 347 shares in the last quarter. Institutional investors own 63.10% of the company’s stock.

Nutrien Stock Up 0.1%

NTR opened at $68.56 on Friday. Nutrien Ltd. has a 1-year low of $53.03 and a 1-year high of $85.36. The business has a 50 day moving average of $66.59 and a 200-day moving average of $70.05. The stock has a market capitalization of $32.80 billion, a price-to-earnings ratio of 13.96, a P/E/G ratio of 0.67 and a beta of 0.62. The company has a current ratio of 1.24, a quick ratio of 0.59 and a debt-to-equity ratio of 0.35.

Nutrien (NYSE:NTR) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.03. Nutrien had a net margin of 8.58% and a return on equity of 8.84%. The company had revenue of $6.05 billion for the quarter, compared to the consensus estimate of $5.30 billion. During the same quarter in the previous year, the firm posted $0.11 EPS. The business’s revenue was up 18.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Nutrien Ltd. will post 5.11 earnings per share for the current year.

Nutrien Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Tuesday, June 30th were issued a $0.55 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.20 annualized dividend and a yield of 3.2%. Nutrien’s dividend payout ratio is 44.81%.

Wall Street Analysts Forecast Growth

NTR has been the topic of several recent analyst reports. JPMorgan Chase & Co. upped their price target on Nutrien from $78.00 to $80.00 and gave the company an “overweight” rating in a research report on Monday, May 11th. Royal Bank Of Canada lifted their target price on Nutrien from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Tuesday, April 7th. Scotia raised shares of Nutrien from a “sector perform” rating to a “sector outperform” rating and set a $80.00 target price for the company in a research note on Tuesday, June 30th. Scotiabank upgraded shares of Nutrien from a “sector perform” rating to a “sector outperform” rating and set a $80.00 price target on the stock in a report on Tuesday, June 30th. Finally, National Bank Financial set a $76.00 price target on shares of Nutrien and gave the stock an “outperform” rating in a research note on Monday, July 13th. Fourteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Nutrien presently has a consensus rating of “Moderate Buy” and an average price target of $81.89.

Nutrien Profile

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.