Evergreen Capital Management LLC Sells 56,375 Shares of Nutrien Ltd. $NTR

Key Points

• Evergreen Capital Management LLC decreased its stake in Nutrien Ltd. by 27.4%, selling 56,375 shares and retaining 149,176 shares valued at approximately $7.49 million.
• Nutrien has received a mix of ratings from analysts, with several firms maintaining a positive outlook, including TD Securities raising their price target to $72.00 while others have given a "sell" rating.
• Nutrien has announced a quarterly dividend of $0.545, which will be paid on October 17th, representing an annualized yield of 3.8%.

Evergreen Capital Management LLC lowered its position in shares of Nutrien Ltd. (NYSE:NTR - Free Report) by 27.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 149,176 shares of the company's stock after selling 56,375 shares during the quarter. Evergreen Capital Management LLC's holdings in Nutrien were worth $7,490,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of NTR. The Manufacturers Life Insurance Company increased its position in Nutrien by 16.5% in the first quarter. The Manufacturers Life Insurance Company now owns 6,554,638 shares of the company's stock worth $326,927,000 after buying an additional 927,041 shares during the period. Canada Pension Plan Investment Board increased its position in shares of Nutrien by 17.1% during the 1st quarter. Canada Pension Plan Investment Board now owns 8,786,309 shares of the company's stock valued at $436,137,000 after purchasing an additional 1,284,181 shares during the period. Lansforsakringar Fondforvaltning AB publ grew its stake in shares of Nutrien by 1.2% in the 1st quarter. Lansforsakringar Fondforvaltning AB publ now owns 112,097 shares of the company's stock worth $5,563,000 after purchasing an additional 1,327 shares during the last quarter. Gabelli Funds LLC grew its holdings in shares of Nutrien by 1.0% in the 1st quarter. Gabelli Funds LLC now owns 52,590 shares of the company's stock worth $2,612,000 after acquiring an additional 500 shares during the last quarter. Finally, Epoch Investment Partners Inc. increased its stake in Nutrien by 9.9% in the 1st quarter. Epoch Investment Partners Inc. now owns 1,308,471 shares of the company's stock worth $64,992,000 after purchasing an additional 117,694 shares in the last quarter. Institutional investors and hedge funds own 63.10% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NTR. Bank of America lifted their price target on Nutrien from $60.00 to $63.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Raymond James Financial cut Nutrien from an "outperform" rating to a "market perform" rating and set a $68.00 price target for the company. in a research note on Tuesday, June 17th. Morgan Stanley boosted their target price on shares of Nutrien from $60.00 to $65.00 and gave the stock an "equal weight" rating in a research report on Thursday, June 26th. UBS Group decreased their price objective on shares of Nutrien from $64.00 to $63.00 and set a "neutral" rating for the company in a report on Thursday, August 7th. Finally, Barclays increased their price objective on Nutrien from $61.00 to $64.00 and gave the company an "equal weight" rating in a report on Monday, July 7th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $62.65.

Nutrien Stock Down 1.3%

NYSE NTR traded down $0.77 during trading hours on Wednesday, reaching $56.83. 2,187,137 shares of the company's stock were exchanged, compared to its average volume of 2,261,851. The company's 50-day moving average is $58.75 and its two-hundred day moving average is $56.05. The company has a market capitalization of $27.62 billion, a price-to-earnings ratio of 20.37, a price-to-earnings-growth ratio of 0.97 and a beta of 0.77. 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 Ltd. has a one year low of $43.69 and a one year high of $65.08.

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

Nutrien Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Monday, September 29th will be given a dividend of $0.545 per share. The ex-dividend date of this dividend is Monday, September 29th. This represents a $2.18 annualized dividend and a yield of 3.8%. Nutrien's dividend payout ratio is currently 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.