Intact Investment Management Inc. Sells 68,540 Shares of Nutrien Ltd. $NTR

Key Points

• Intact Investment Management reduced its Nutrien stake by 68,540 shares (a 6.1% cut) in Q4 to 1,056,505 shares, representing about 0.22% of Nutrien and ~$65.21 million; Nutrien is 1.9% of Intact’s portfolio and its 14th-largest holding.
• Analysts have been active—JPMorgan lifted its target to $78 (overweight), Bank of America upgraded to Buy with an $82 target, and Barclays raised its target to $80—yet the MarketBeat consensus remains a Hold with an $80 target price.
• Nutrien missed Q4 estimates with EPS of $0.83 vs. $0.87 expected and revenue of $5.12B vs. $5.26B expected, though revenue rose 5.1% year-over-year; the company pays a $0.55 quarterly dividend (annualized $2.20, ~2.9% yield).

Intact Investment Management Inc. reduced its holdings in Nutrien Ltd. (NYSE:NTR - Free Report) by 6.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,056,505 shares of the company's stock after selling 68,540 shares during the quarter. Nutrien comprises 1.9% of Intact Investment Management Inc.'s holdings, making the stock its 14th largest holding. Intact Investment Management Inc. owned 0.22% of Nutrien worth $65,210,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in NTR. Swiss Life Asset Management Ltd grew its stake in Nutrien by 23.6% in the third quarter. Swiss Life Asset Management Ltd now owns 79,770 shares of the company's stock valued at $4,691,000 after acquiring an additional 15,230 shares during the period. Van ECK Associates Corp grew its stake in Nutrien by 1.4% in the third quarter. Van ECK Associates Corp now owns 1,854,650 shares of the company's stock valued at $108,901,000 after acquiring an additional 25,588 shares during the period. MH & Associates Securities Management Corp ADV acquired a new stake in Nutrien in the fourth quarter valued at approximately $1,967,000. Hudson Bay Capital Management LP grew its stake in Nutrien by 190.3% in the third quarter. Hudson Bay Capital Management LP now owns 116,312 shares of the company's stock valued at $6,829,000 after acquiring an additional 76,244 shares during the period. Finally, Metis Global Partners LLC grew its stake in Nutrien by 37.8% in the third quarter. Metis Global Partners LLC now owns 220,648 shares of the company's stock valued at $12,958,000 after acquiring an additional 60,491 shares during the period. 63.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on Nutrien from $68.00 to $78.00 and gave the company an "overweight" rating in a research note on Friday, February 20th. Canadian Imperial Bank of Commerce reduced their price objective on Nutrien from $90.00 to $88.00 and set an "outperformer" rating for the company in a research note on Thursday. Bank of America raised Nutrien from a "neutral" rating to a "buy" rating and set a $82.00 price objective for the company in a research note on Thursday. Weiss Ratings raised Nutrien from a "hold (c)" rating to a "buy (b-)" rating in a research note on Monday, March 2nd. Finally, Barclays raised their price objective on Nutrien from $70.00 to $80.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 3rd. Eleven analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Nutrien presently has a consensus rating of "Hold" and a consensus target price of $80.00.

Nutrien Stock Up 0.0%

Shares of NYSE:NTR opened at $75.24 on Monday. The stock has a market cap of $36.18 billion, a price-to-earnings ratio of 16.15 and a beta of 0.64. The company has a quick ratio of 0.70, a current ratio of 1.34 and a debt-to-equity ratio of 0.37. Nutrien Ltd. has a 12-month low of $53.03 and a 12-month high of $85.36. The business's 50 day moving average is $74.85 and its 200 day moving average is $66.62.

Nutrien (NYSE:NTR - Get Free Report) last announced its earnings results on Wednesday, February 18th. The company reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.04). The company had revenue of $5.12 billion for the quarter, compared to analysts' expectations of $5.26 billion. Nutrien had a net margin of 8.43% and a return on equity of 8.41%. The firm's quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.31 EPS. On average, sell-side analysts forecast that Nutrien Ltd. will post 5.12 earnings per share for the current fiscal year.

Nutrien Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 16th. Investors of record on Tuesday, March 31st were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Tuesday, March 31st. This is a positive change from Nutrien's previous quarterly dividend of $0.55. This represents a $2.20 annualized dividend and a dividend yield of 2.9%. Nutrien's payout ratio is presently 47.21%.

Nutrien Company Profile

Nutrien Ltd. is a global fertilizer and agricultural-services company headquartered in Saskatoon, Saskatchewan, Canada. The company is publicly traded and operates across the farm input value chain, combining upstream fertilizer production with a broad retail and services platform aimed at supporting crop production worldwide. Nutrien's business model integrates the manufacture and distribution of crop nutrients with on-the-ground agronomic support for growers and agricultural businesses.

Nutrien produces and supplies the three primary fertilizer nutrients—potash, nitrogen and phosphate—through its wholesale operations, and markets a wide range of crop inputs including seeds and crop protection products.

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