Intact Investment Management Inc. Acquires 59,620 Shares of Nutrien Ltd. (NYSE:NTR)

Intact Investment Management Inc. grew its holdings in Nutrien Ltd. (NYSE:NTR) by 8.5% during the 4th quarter, Holdings Channel reports. The firm owned 757,409 shares of the company’s stock after purchasing an additional 59,620 shares during the period. Nutrien makes up approximately 1.7% of Intact Investment Management Inc.’s portfolio, making the stock its 19th biggest position. Intact Investment Management Inc.’s holdings in Nutrien were worth $42,672,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of NTR. GHP Investment Advisors Inc. bought a new position in shares of Nutrien in the 3rd quarter valued at about $27,000. U.S. Capital Wealth Advisors LLC boosted its stake in Nutrien by 2.9% during the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 49,762 shares of the company’s stock worth $3,073,000 after acquiring an additional 1,390 shares during the last quarter. Manning & Napier Group LLC boosted its stake in Nutrien by 3.4% during the 3rd quarter. Manning & Napier Group LLC now owns 49,165 shares of the company’s stock worth $3,036,000 after acquiring an additional 1,624 shares during the last quarter. Bfsg LLC boosted its stake in Nutrien by 9.8% during the 3rd quarter. Bfsg LLC now owns 29,028 shares of the company’s stock worth $1,793,000 after acquiring an additional 2,600 shares during the last quarter. Finally, Ascent Wealth Partners LLC boosted its stake in Nutrien by 2.1% during the 3rd quarter. Ascent Wealth Partners LLC now owns 12,300 shares of the company’s stock worth $760,000 after acquiring an additional 250 shares during the last quarter. Institutional investors own 63.10% of the company’s stock.

Nutrien Stock Up 1.0 %

Shares of NYSE:NTR traded up $0.50 during midday trading on Friday, hitting $52.55. The stock had a trading volume of 1,227,851 shares, compared to its average volume of 1,711,381. Nutrien Ltd. has a 12 month low of $47.90 and a 12 month high of $70.07. The company has a quick ratio of 0.65, a current ratio of 1.17 and a debt-to-equity ratio of 0.35. The business’s 50-day simple moving average is $53.23 and its 200-day simple moving average is $54.09. The company has a market cap of $25.99 billion, a P/E ratio of 20.77, a PEG ratio of 1.95 and a beta of 0.89.

Nutrien (NYSE:NTR) last released its earnings results on Wednesday, February 21st. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.35). Nutrien had a net margin of 4.33% and a return on equity of 8.59%. The firm had revenue of $5.66 billion during the quarter, compared to the consensus estimate of $5.36 billion. During the same period in the prior year, the business posted $2.02 earnings per share. Nutrien’s quarterly revenue was down 24.8% compared to the same quarter last year. On average, sell-side analysts forecast that Nutrien Ltd. will post 3.82 earnings per share for the current fiscal year.

Nutrien Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 28th were given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 4.11%. This is a boost from Nutrien’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Wednesday, March 27th. Nutrien’s payout ratio is 85.38%.

Wall Street Analyst Weigh In

NTR has been the topic of several recent analyst reports. Wells Fargo & Company reduced their price objective on shares of Nutrien from $77.00 to $69.00 and set an “overweight” rating on the stock in a research note on Monday, February 26th. Berenberg Bank reduced their price objective on shares of Nutrien from $67.00 to $60.00 and set a “hold” rating on the stock in a research note on Thursday, February 8th. Stifel Nicolaus lifted their price objective on shares of Nutrien from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, January 19th. Jefferies Financial Group initiated coverage on shares of Nutrien in a research note on Tuesday, March 26th. They set a “buy” rating and a $62.00 price objective on the stock. Finally, Piper Sandler lowered shares of Nutrien from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $68.00 to $54.00 in a research note on Thursday, February 29th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $67.95.

About Nutrien

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.