Nutrien Ltd. $NTR Stock: Cidel Asset Management Inc. Decreases Stake

Cidel Asset Management Inc. lowered its holdings in Nutrien Ltd. (NYSE:NTR) by 88.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,941 shares of the company’s stock after selling 70,776 shares during the quarter. Cidel Asset Management Inc.’s holdings in Nutrien were worth $629,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NTR. Gould Asset Management LLC CA lifted its holdings in shares of Nutrien by 4.4% during the first quarter. Gould Asset Management LLC CA now owns 3,933 shares of the company’s stock worth $297,000 after buying an additional 165 shares during the last quarter. Somerset Trust Co boosted its position in shares of Nutrien by 2.2% in the second quarter. Somerset Trust Co now owns 10,065 shares of the company’s stock valued at $634,000 after acquiring an additional 213 shares during the period. Parvin Asset Management LLC grew its stake in shares of Nutrien by 4.0% in the first quarter. Parvin Asset Management LLC now owns 6,505 shares of the company’s stock worth $491,000 after acquiring an additional 250 shares during the last quarter. Wellington Altus USA Inc. grew its stake in shares of Nutrien by 14.6% in the second quarter. Wellington Altus USA Inc. now owns 2,239 shares of the company’s stock worth $141,000 after acquiring an additional 285 shares during the last quarter. Finally, Mather Group LLC. grew its stake in shares of Nutrien by 16.9% in the third quarter. Mather Group LLC. now owns 2,017 shares of the company’s stock worth $142,000 after acquiring an additional 292 shares during the last quarter. Institutional investors and hedge funds own 63.10% of the company’s stock.

Nutrien Trading Down 0.0%

Shares of NTR opened at $69.40 on Monday. Nutrien Ltd. has a 1 year low of $53.03 and a 1 year high of $85.36. The company has a current ratio of 1.39, a quick ratio of 0.86 and a debt-to-equity ratio of 0.36. The stock has a 50 day simple moving average of $73.14 and a 200-day simple moving average of $70.98. The stock has a market cap of $32.98 billion, a PE ratio of 14.05, a PEG ratio of 0.77 and a beta of 0.67.

Nutrien (NYSE:NTR) last posted its earnings results on Wednesday, August 5th. The company reported $2.61 EPS for the quarter, missing the consensus estimate of $2.70 by ($0.09). The company had revenue of $10.81 billion for the quarter, compared to the consensus estimate of $10.44 billion. Nutrien had a return on equity of 8.88% and a net margin of 8.44%. Nutrien’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the business earned $2.65 EPS. On average, sell-side analysts predict that Nutrien Ltd. will post 4.53 EPS for the current fiscal year.

Nutrien Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Tuesday, September 29th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 3.2%. The ex-dividend date was Tuesday, September 29th. Nutrien’s dividend payout ratio is currently 44.53%.

Analysts Set New Price Targets

NTR has been the subject of several research analyst reports. Raymond James Financial cut their target price on shares of Nutrien from $90.00 to $83.00 and set an “outperform” rating for the company in a research note on Wednesday, October 28th. Freedom Broker started coverage on shares of Nutrien in a research report on Tuesday, October 27th. They issued a “hold” rating and a $78.00 price target on the stock. Jefferies Financial Group restated a “hold” rating and set a $71.00 price objective on shares of Nutrien in a report on Monday, October 12th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $85.00 price objective on shares of Nutrien in a research report on Friday, September 18th. Finally, Oppenheimer reduced their target price on shares of Nutrien from $80.00 to $78.00 and set an “outperform” rating for the company in a research note on Thursday, October 22nd. Sixteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Nutrien has an average rating of “Moderate Buy” and an average price target of $79.24.

About Nutrien