1832 Asset Management L.P. Decreases Holdings in Nutrien Ltd. $NTR

Key Points

• 1832 Asset Management L.P. reduced its holdings in Nutrien Ltd. by 12.2%, selling over 1.3 million shares, and now owns approximately 1.91% of the company valued at around $462.86 million.
• Several institutional investors, including Vanguard and JPMorgan Chase, have increased their holdings in Nutrien, reflecting strong institutional interest.
• Nutrien reported an EPS of $2.65 for the latest quarter, exceeding estimates, and announced a quarterly dividend of $0.545, reflecting a 3.8% yield.

1832 Asset Management L.P. cut its holdings in shares of Nutrien Ltd. (NYSE:NTR - Free Report) by 12.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,318,695 shares of the company's stock after selling 1,300,672 shares during the period. 1832 Asset Management L.P. owned 1.91% of Nutrien worth $462,860,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Wealth Enhancement Advisory Services LLC boosted its stake in Nutrien by 184.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,243 shares of the company's stock worth $608,000 after purchasing an additional 7,934 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of Nutrien by 27.6% in the first quarter. Farther Finance Advisors LLC now owns 4,627 shares of the company's stock valued at $229,000 after buying an additional 1,002 shares during the last quarter. Kingswood Wealth Advisors LLC purchased a new stake in shares of Nutrien in the first quarter valued at about $517,000. Bessemer Group Inc. raised its holdings in shares of Nutrien by 163.7% in the first quarter. Bessemer Group Inc. now owns 1,690 shares of the company's stock valued at $84,000 after buying an additional 1,049 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Nutrien by 4,866.7% during the first quarter. GAMMA Investing LLC now owns 1,043 shares of the company's stock worth $52,000 after buying an additional 1,022 shares during the last quarter. 63.10% of the stock is owned by institutional investors and hedge funds.

Nutrien Price Performance

NTR stock traded up $0.2030 on Friday, reaching $57.8130. 1,313,972 shares of the company's stock were exchanged, compared to its average volume of 2,031,233. The stock has a fifty day moving average of $59.21 and a 200-day moving average of $55.73. The firm has a market cap of $28.10 billion, a PE ratio of 20.72, a P/E/G ratio of 0.98 and a beta of 0.81. The company has a quick ratio of 0.85, a current ratio of 1.33 and a debt-to-equity ratio of 0.39. Nutrien Ltd. has a twelve month low of $43.69 and a twelve month high of $65.08.

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

Nutrien Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Monday, September 29th will be paid a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, September 29th. Nutrien's dividend payout ratio is currently 78.14%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NTR. Oppenheimer boosted their price target on Nutrien from $63.00 to $65.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Jefferies Financial Group reiterated a "hold" rating and issued a $66.00 target price (up from $63.00) on shares of Nutrien in a research note on Friday, July 11th. Royal Bank Of Canada restated an "outperform" rating on shares of Nutrien in a research note on Monday, July 14th. Wall Street Zen raised Nutrien from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. Finally, The Goldman Sachs Group lifted their price objective 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. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $62.65.

About Nutrien

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.