Nutrien Ltd. $NTR Shares Sold by Cardinal Capital Management Inc.

Key Points

• Cardinal Capital Management cut its Nutrien stake by 5.2% in the second quarter, selling 24,450 shares and retaining 449,452 shares valued at approximately $28.3 million. Institutional investors and hedge funds collectively own 63.1% of the company.
• Nutrien reported quarterly revenue of $10.81 billion, up 3.6% year over year and above estimates, but earnings of $2.61 per share missed consensus by $0.09. Shares opened at $67.18, while analysts maintain a “Moderate Buy” consensus with an $81.58 average price target.
• The company declared a quarterly dividend of $0.55 per share, equivalent to $2.20 annually and a 3.3% yield, payable October 16 to shareholders of record on September 29.

Cardinal Capital Management Inc. lessened its stake in shares of Nutrien Ltd. (NYSE:NTR - Free Report) by 5.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 449,452 shares of the company's stock after selling 24,450 shares during the quarter. Cardinal Capital Management Inc. owned about 0.09% of Nutrien worth $28,260,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Nutrien by 65.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,224 shares of the company's stock worth $1,253,000 after buying an additional 9,950 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in shares of Nutrien by 6.2% in the first quarter. NewEdge Advisors LLC now owns 6,907 shares of the company's stock valued at $343,000 after acquiring an additional 404 shares in the last quarter. Focus Partners Wealth acquired a new position in shares of Nutrien during the first quarter worth about $516,000. Acadian Asset Management LLC acquired a new position in shares of Nutrien during the first quarter worth about $54,000. Finally, Prudential Financial Inc. acquired a new position in shares of Nutrien during the second quarter worth about $203,000. 63.10% of the stock is owned by institutional investors and hedge funds.

Nutrien Stock Up 1.3%

Shares of NYSE NTR opened at $67.18 on Wednesday. The stock has a market capitalization of $32.14 billion, a price-to-earnings ratio of 13.60, a price-to-earnings-growth ratio of 0.66 and a beta of 0.61. Nutrien Ltd. has a 52 week low of $53.03 and a 52 week high of $85.36. The firm has a 50-day moving average price of $65.97 and a 200 day moving average price of $70.43. The company has a quick ratio of 0.86, a current ratio of 1.39 and a debt-to-equity ratio of 0.36.

Nutrien (NYSE:NTR - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $2.61 earnings per share for the quarter, missing the consensus estimate of $2.70 by ($0.09). Nutrien had a return on equity of 8.88% and a net margin of 8.44%.The company had revenue of $10.81 billion for the quarter, compared to analyst estimates of $10.44 billion. During the same quarter in the previous year, the company posted $2.65 earnings per share. The company's quarterly revenue was up 3.6% compared to the same quarter last year. Equities research analysts anticipate that Nutrien Ltd. will post 5.01 EPS for the current fiscal year.

Nutrien Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Tuesday, September 29th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Tuesday, September 29th. Nutrien's dividend payout ratio (DPR) is presently 44.53%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Wall Street Zen downgraded shares of Nutrien from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. Raymond James Financial upgraded Nutrien from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $74.00 to $90.00 in a research report on Tuesday, May 5th. Oppenheimer reduced their price target on Nutrien from $82.00 to $80.00 and set an "outperform" rating for the company in a report on Thursday, July 23rd. BNP Paribas Exane raised Nutrien from a "neutral" rating to an "outperform" rating and set a $80.00 price target for the company in a report on Tuesday, July 28th. Finally, Berenberg Bank set a $65.00 price target on Nutrien and gave the company a "hold" rating in a research note on Wednesday, June 10th. Seventeen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $81.58.

About Nutrien

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.

Want to see what other hedge funds are holding NTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nutrien Ltd. (NYSE:NTR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source