Addenda Capital Inc. Sells 183,157 Shares of Nutrien Ltd. $NTR

Key Points

• Addenda Capital Inc. reduced its stake in Nutrien Ltd. by 54.9%, selling 183,157 shares, and now holds 150,530 shares, valued at $8.77 million.
• Several institutional investors, including Wealth Enhancement Advisory Services LLC and Intech Investment Management LLC, significantly increased their holdings in Nutrien during the first quarter.
• Nutrien recently announced a $0.545 quarterly dividend, with a dividend yield of 3.7%, payable on October 17th to shareholders of record as of September 29th.

Addenda Capital Inc. lessened its stake in Nutrien Ltd. (NYSE:NTR - Free Report) by 54.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 150,530 shares of the company's stock after selling 183,157 shares during the quarter. Addenda Capital Inc.'s holdings in Nutrien were worth $8,767,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in NTR. Wealth Enhancement Advisory Services LLC boosted its position in shares of Nutrien by 184.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,243 shares of the company's stock worth $608,000 after buying an additional 7,934 shares during the period. Intech Investment Management LLC raised its position in Nutrien by 284.0% during the first quarter. Intech Investment Management LLC now owns 69,128 shares of the company's stock worth $3,430,000 after acquiring an additional 51,126 shares in the last quarter. Covea Finance lifted its position in shares of Nutrien by 16.5% in the second quarter. Covea Finance now owns 73,500 shares of the company's stock valued at $4,265,000 after buying an additional 10,400 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in Nutrien by 27.6% during the 1st quarter. Farther Finance Advisors LLC now owns 4,627 shares of the company's stock valued at $229,000 after purchasing an additional 1,002 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Nutrien by 1.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 736,996 shares of the company's stock worth $36,607,000 after purchasing an additional 7,194 shares during the period. 63.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NTR. Wall Street Zen lowered shares of Nutrien from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 5th. Jefferies Financial Group reduced their price target on Nutrien from $61.00 to $60.00 and set a "hold" rating on the stock in a research report on Tuesday, September 9th. Oppenheimer lifted their price objective on shares of Nutrien from $63.00 to $65.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Nutrien in a research report on Monday, July 14th. Finally, National Bank Financial started coverage on shares of Nutrien in a research report on Friday, September 5th. They set a "sector perform" rating for the company. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Nutrien has an average rating of "Hold" and a consensus price target of $62.39.

Nutrien Price Performance

NTR stock opened at $58.76 on Friday. The firm has a 50 day simple moving average of $57.79 and a two-hundred day simple moving average of $56.75. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.33 and a quick ratio of 0.85. The stock has a market cap of $28.51 billion, a PE ratio of 21.06, a P/E/G ratio of 0.96 and a beta of 0.77. Nutrien Ltd. has a one year low of $43.69 and a one year high of $65.08.

Nutrien (NYSE:NTR - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.24. Nutrien had a net margin of 5.25% and a return on equity of 6.51%. The company had revenue of $10.30 billion during the quarter, compared to analyst estimates of $10.40 billion. During the same period in the previous year, the business earned $2.34 earnings per share. The firm's quarterly revenue was up 2.8% compared to the same quarter last year. On average, analysts predict that Nutrien Ltd. will post 3.72 EPS for the current fiscal year.

Nutrien Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Monday, September 29th will be paid a $0.545 dividend. The ex-dividend date of this dividend is Monday, September 29th. This represents a $2.18 annualized dividend and a yield of 3.7%. Nutrien's dividend payout ratio is currently 78.14%.

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.

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