Nutrien Ltd. (NYSE:NTR) Shares Sold by Covestor Ltd

Covestor Ltd lowered its holdings in Nutrien Ltd. (NYSE:NTR) by 28.1% during the third quarter, Holdings Channel reports. The fund owned 670 shares of the company’s stock after selling 262 shares during the quarter. Covestor Ltd’s holdings in Nutrien were worth $32,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Central Pacific Bank Trust Division acquired a new stake in shares of Nutrien in the third quarter worth $28,000. Family Firm Inc. acquired a new stake in shares of Nutrien in the second quarter worth $32,000. Trust Co. of Vermont increased its stake in shares of Nutrien by 50.0% in the second quarter. Trust Co. of Vermont now owns 900 shares of the company’s stock worth $46,000 after acquiring an additional 300 shares during the period. Andra AP fonden acquired a new stake in shares of Nutrien in the second quarter worth $51,000. Finally, Oakworth Capital Inc. acquired a new stake in shares of Nutrien in the second quarter worth $52,000. Institutional investors and hedge funds own 63.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. HSBC downgraded shares of Nutrien from a “hold” rating to a “reduce” rating in a report on Friday, August 2nd. Wells Fargo & Company downgraded shares of Nutrien from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $62.00 to $50.00 in a report on Tuesday, September 24th. Barclays lowered their price target on shares of Nutrien from $68.00 to $55.00 and set an “overweight” rating on the stock in a report on Friday, August 16th. Hsbc Global Res downgraded shares of Nutrien from a “hold” rating to a “moderate sell” rating in a report on Friday, August 2nd. Finally, Mizuho decreased their price objective on shares of Nutrien from $55.00 to $52.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $60.33.

Nutrien Price Performance

Nutrien stock opened at $46.19 on Friday. Nutrien Ltd. has a 12-month low of $44.65 and a 12-month high of $60.87. The stock has a market cap of $22.81 billion, a P/E ratio of 31.00, a PEG ratio of 1.60 and a beta of 0.82. The company has a 50-day moving average price of $47.99 and a 200 day moving average price of $50.47. The company has a current ratio of 1.27, a quick ratio of 0.82 and a debt-to-equity ratio of 0.38.

Nutrien (NYSE:NTR) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.04). Nutrien had a return on equity of 6.99% and a net margin of 2.79%. The firm had revenue of $5.35 billion for the quarter, compared to analyst estimates of $5.26 billion. During the same quarter in the previous year, the business posted $0.35 earnings per share. Nutrien’s revenue for the quarter was down 5.0% on a year-over-year basis. Sell-side analysts anticipate that Nutrien Ltd. will post 3.65 earnings per share for the current year.

Nutrien Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.939 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Nutrien’s previous quarterly dividend of $0.54. This represents a $3.76 dividend on an annualized basis and a dividend yield of 8.13%. Nutrien’s dividend payout ratio (DPR) is currently 144.97%.

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.