Alberta Investment Management Corp Sells 16,000 Shares of Nutrien Ltd. (NYSE:NTR)

Key Points

• Alberta Investment Management Corp reduced its stake in Nutrien Ltd. by 1.8%, selling 16,000 shares, leaving it with a total of 892,840 shares valued at approximately $44.3 million.
• Several institutional investors increased their positions in Nutrien during the 1st quarter, with US Bancorp DE boosting by 2.8% and Harbour Investments Inc. by 94.8%.
• Nutrien's quarterly earnings missed expectations, reporting $0.11 EPS compared to a consensus estimate of $0.35, while its revenue fell by 5.4% year-over-year.

Alberta Investment Management Corp lowered its holdings in shares of Nutrien Ltd. (NYSE:NTR - Free Report) by 1.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 892,840 shares of the company's stock after selling 16,000 shares during the period. Alberta Investment Management Corp owned about 0.18% of Nutrien worth $44,305,000 as of its most recent filing with the SEC.

Several other institutional investors have also added to or reduced their stakes in the company. US Bancorp DE boosted its position in Nutrien by 2.8% during the 1st quarter. US Bancorp DE now owns 31,410 shares of the company's stock valued at $1,560,000 after buying an additional 861 shares during the period. Harbour Investments Inc. boosted its position in Nutrien by 94.8% during the 1st quarter. Harbour Investments Inc. now owns 715 shares of the company's stock valued at $35,000 after buying an additional 348 shares during the period. Goodman Financial Corp boosted its position in Nutrien by 1.0% during the 1st quarter. Goodman Financial Corp now owns 265,905 shares of the company's stock valued at $13,208,000 after buying an additional 2,700 shares during the period. Natixis Advisors LLC boosted its position in Nutrien by 37.3% during the 1st quarter. Natixis Advisors LLC now owns 46,052 shares of the company's stock valued at $2,287,000 after buying an additional 12,518 shares during the period. Finally, Mesirow Financial Investment Management Inc. boosted its position in Nutrien by 5.9% during the 1st quarter. Mesirow Financial Investment Management Inc. now owns 5,532 shares of the company's stock valued at $275,000 after buying an additional 309 shares during the period. Hedge funds and other institutional investors own 63.10% of the company's stock.

Analysts Set New Price Targets

NTR has been the subject of several research analyst reports. Wells Fargo & Company raised their target price on shares of Nutrien from $59.00 to $62.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. The Goldman Sachs Group raised their target price on shares of Nutrien from $53.00 to $59.00 and gave the stock a "sell" rating in a research report on Friday, May 9th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $66.00 target price (up from $63.00) on shares of Nutrien in a research report on Friday, July 11th. BNP Paribas raised shares of Nutrien to a "strong-buy" rating in a research report on Wednesday, April 9th. Finally, UBS Group lifted their price target on shares of Nutrien from $56.00 to $64.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $63.22.

Nutrien Stock Down 0.0%

Shares of Nutrien stock opened at $59.33 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.22 and a quick ratio of 0.59. Nutrien Ltd. has a 1 year low of $43.69 and a 1 year high of $65.08. The firm's 50-day moving average is $60.12 and its two-hundred day moving average is $55.11. The stock has a market cap of $28.89 billion, a price-to-earnings ratio of 55.45, a PEG ratio of 1.09 and a beta of 0.80.

Nutrien (NYSE:NTR - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.24). The firm had revenue of $4.67 billion for the quarter, compared to analysts' expectations of $5.16 billion. Nutrien had a net margin of 2.05% and a return on equity of 6.08%. The business's quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.46 earnings per share. As a group, research analysts expect that Nutrien Ltd. will post 3.72 earnings per share for the current fiscal year.

Nutrien Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Investors of record on Monday, June 30th were given a $0.545 dividend. This represents a $2.18 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Monday, June 30th. Nutrien's dividend payout ratio (DPR) is presently 203.74%.

Nutrien Profile

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.

Want to see what other hedge funds are holding NTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nutrien Ltd. (NYSE:NTR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.