Beck Mack & Oliver LLC Sells 14,428 Shares of Nutrien Ltd. $NTR

Key Points

• Beck Mack & Oliver LLC reduced its stake in Nutrien Ltd. by 7.2%, selling 14,428 shares, and now holds 186,820 shares valued at approximately $9.28 million.
• Several institutional investors, including JPMorgan Chase & Co. and Vanguard Group Inc., have significantly increased their positions in Nutrien during the first quarter, suggesting growing confidence in the company.
• Nutrien's recent earnings report exceeded analysts' expectations with an EPS of $2.65, along with a declared quarterly dividend of $0.545, representing an annual yield of 3.8%.

Beck Mack & Oliver LLC trimmed its stake in Nutrien Ltd. (NYSE:NTR - Free Report) by 7.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 186,820 shares of the company's stock after selling 14,428 shares during the period. Beck Mack & Oliver LLC's holdings in Nutrien were worth $9,279,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of NTR. JPMorgan Chase & Co. increased its position in shares of Nutrien by 48.7% in the first quarter. JPMorgan Chase & Co. now owns 6,992,535 shares of the company's stock worth $347,319,000 after purchasing an additional 2,291,518 shares during the last quarter. Vanguard Group Inc. grew its position in Nutrien by 7.1% during the first quarter. Vanguard Group Inc. now owns 21,191,003 shares of the company's stock valued at $1,051,709,000 after acquiring an additional 1,412,503 shares during the last quarter. Canada Pension Plan Investment Board grew its position in Nutrien by 17.1% during the first quarter. Canada Pension Plan Investment Board now owns 8,786,309 shares of the company's stock valued at $436,137,000 after acquiring an additional 1,284,181 shares during the last quarter. Nuveen LLC bought a new position in Nutrien during the first quarter valued at approximately $63,542,000. Finally, The Manufacturers Life Insurance Company grew its position in Nutrien by 16.5% during the first quarter. The Manufacturers Life Insurance Company now owns 6,554,638 shares of the company's stock valued at $326,927,000 after acquiring an additional 927,041 shares during the last quarter. 63.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NTR. UBS Group reduced their price target on shares of Nutrien from $64.00 to $63.00 and set a "neutral" rating on the stock in a research report on Thursday, August 7th. Wells Fargo & Company increased their price target on shares of Nutrien from $59.00 to $62.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. The Goldman Sachs Group increased their price target on shares of Nutrien from $53.00 to $59.00 and gave the company a "sell" rating in a research report on Friday, May 9th. Morgan Stanley increased their price target on shares of Nutrien from $60.00 to $65.00 and gave the company an "equal weight" rating in a research report on Thursday, June 26th. Finally, Oppenheimer increased their price objective on Nutrien from $63.00 to $65.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $62.65.

Nutrien Stock Performance

NYSE:NTR opened at $57.73 on Friday. The business has a 50 day moving average price of $58.83 and a 200-day moving average price of $55.95. Nutrien Ltd. has a fifty-two week low of $43.69 and a fifty-two week high of $65.08. The firm has a market cap of $28.06 billion, a PE ratio of 20.69, a price-to-earnings-growth ratio of 0.97 and a beta of 0.81. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.85 and a current ratio of 1.33.

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

Nutrien Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Investors 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 dividend on an annualized basis and a yield of 3.8%. Nutrien's dividend payout ratio (DPR) is presently 78.14%.

Nutrien Company 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.

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