Truvestments Capital LLC trimmed its position in shares of Nutrien Ltd (NYSE:NTR) by 38.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,418 shares of the company’s stock after selling 870 shares during the quarter. Truvestments Capital LLC’s holdings in Nutrien were worth $71,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Beutel Goodman & Co Ltd. increased its holdings in Nutrien by 5.7% in the second quarter. Beutel Goodman & Co Ltd. now owns 13,435,410 shares of the company’s stock valued at $718,661,000 after buying an additional 718,508 shares in the last quarter. Invesco Ltd. increased its position in Nutrien by 0.7% during the second quarter. Invesco Ltd. now owns 10,145,011 shares of the company’s stock valued at $542,352,000 after acquiring an additional 66,593 shares during the last quarter. Mackenzie Financial Corp increased its position in Nutrien by 11.3% during the second quarter. Mackenzie Financial Corp now owns 8,580,722 shares of the company’s stock valued at $458,725,000 after acquiring an additional 872,389 shares during the last quarter. Schroder Investment Management Group increased its position in Nutrien by 1.4% during the second quarter. Schroder Investment Management Group now owns 8,319,990 shares of the company’s stock valued at $552,612,000 after acquiring an additional 117,187 shares during the last quarter. Finally, Mawer Investment Management Ltd. increased its position in Nutrien by 0.4% during the second quarter. Mawer Investment Management Ltd. now owns 3,640,193 shares of the company’s stock valued at $195,155,000 after acquiring an additional 14,776 shares during the last quarter. 65.50% of the stock is owned by institutional investors and hedge funds.
NTR has been the topic of several recent analyst reports. TD Securities increased their price target on Nutrien from $68.00 to $69.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Scotiabank set a $60.00 price objective on Nutrien and gave the stock a “buy” rating in a report on Thursday, September 26th. Consumer Edge initiated coverage on Nutrien in a report on Monday, September 23rd. They issued an “overweight” rating and a $67.00 price objective on the stock. Stifel Nicolaus lowered their price objective on Nutrien from $63.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Finally, BMO Capital Markets set a $60.00 price objective on Nutrien and gave the stock a “buy” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $61.60.
Nutrien (NYSE:NTR) last issued its quarterly earnings results on Monday, July 29th. The company reported $1.58 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.59 by ($0.01). The firm had revenue of $8.66 billion during the quarter, compared to analysts’ expectations of $8.17 billion. The company’s revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.48 EPS. Sell-side analysts expect that Nutrien Ltd will post 2.38 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Monday, September 30th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, September 27th. This represents a $1.80 dividend on an annualized basis and a yield of 3.54%. This is a positive change from Nutrien’s previous quarterly dividend of $0.43. Nutrien’s dividend payout ratio (DPR) is 66.91%.
Nutrien Ltd. produces and markets crop nutrients to agricultural, industrial, and feed customers worldwide. It operates in four segments: Retail, Potash, Nitrogen, and Phosphate and Sulfate. The company offers potash, nitrogen, phosphate, and sulfate products. It also distributes crop nutrients, crop protection products, seeds, and merchandise products through operating 1,700 retail locations.
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