Harvest Portfolios Group Inc. Sells 7,701 Shares of Nutrien Ltd. $NTR

Key Points

• Harvest Portfolios Group Inc. reduced its stake in Nutrien Ltd. by 12.4%, selling 7,701 shares during the first quarter, leaving them with 54,222 shares valued at approximately $2.69 million.
• Nutrien is set to pay a quarterly dividend of $0.545 per share on October 17th, representing an annualized dividend of $2.18 with a yield of 3.7%.
• Brokerage firms have recently updated their price targets for Nutrien, with Barclays raising its target to $64.00 and Zacks upgrading the stock to a "strong-buy" rating.

Harvest Portfolios Group Inc. cut its stake in Nutrien Ltd. (NYSE:NTR - Free Report) by 12.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 54,222 shares of the company's stock after selling 7,701 shares during the period. Harvest Portfolios Group Inc.'s holdings in Nutrien were worth $2,691,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Public Sector Pension Investment Board lifted its stake in Nutrien by 0.4% in the first quarter. Public Sector Pension Investment Board now owns 47,329 shares of the company's stock worth $2,349,000 after acquiring an additional 200 shares during the period. Blume Capital Management Inc. increased its holdings in shares of Nutrien by 0.7% during the first quarter. Blume Capital Management Inc. now owns 31,796 shares of the company's stock valued at $1,579,000 after acquiring an additional 220 shares in the last quarter. Tidal Investments LLC increased its holdings in shares of Nutrien by 2.9% during the fourth quarter. Tidal Investments LLC now owns 10,262 shares of the company's stock valued at $459,000 after acquiring an additional 293 shares in the last quarter. Mesirow Financial Investment Management Inc. increased its holdings in shares of Nutrien by 5.9% during the first quarter. Mesirow Financial Investment Management Inc. now owns 5,532 shares of the company's stock valued at $275,000 after acquiring an additional 309 shares in the last quarter. Finally, Harbour Investments Inc. increased its holdings in Nutrien by 94.8% in the 1st quarter. Harbour Investments Inc. now owns 715 shares of the company's stock worth $35,000 after buying an additional 348 shares during the period. Hedge funds and other institutional investors own 63.10% of the company's stock.

Nutrien Stock Up 0.5%

Shares of NYSE:NTR opened at $58.57 on Wednesday. The business has a 50-day moving average price of $59.05 and a 200 day moving average price of $55.81. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $28.47 billion, a price-to-earnings ratio of 20.99, a PEG ratio of 0.98 and a beta of 0.81. Nutrien Ltd. has a 12-month low of $43.69 and a 12-month high of $65.08.

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

Nutrien Announces Dividend

The firm 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. This represents a $2.18 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Monday, September 29th. Nutrien's dividend payout ratio (DPR) is presently 78.14%.

Analysts Set New Price Targets

Several brokerages recently weighed in on NTR. Barclays increased their price target on shares of Nutrien from $61.00 to $64.00 and gave the stock an "equal weight" rating in a report on Monday, July 7th. Zacks Research upgraded Nutrien from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 18th. Raymond James Financial lowered Nutrien from an "outperform" rating to a "market perform" rating and set a $68.00 price objective on the stock. in a report on Tuesday, June 17th. The Goldman Sachs Group raised their price objective on Nutrien from $53.00 to $59.00 and gave the company a "sell" rating in a report on Friday, May 9th. Finally, Scotiabank decreased their price objective on Nutrien from $62.00 to $60.00 and set a "sector perform" rating on the stock in a report on Monday, August 11th. Two investment 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 issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $62.65.

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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