Nutrien Ltd. $NTR Stock: Beutel Goodman & Co Ltd. Decreases Holdings

Key Points

• Beutel Goodman reduced its Nutrien stake by 8.1% in the third quarter, selling 259,228 shares; it retained 2.95 million shares valued at about $207.5 million.
• Nutrien reported quarterly earnings of $0.61 per share, missing analyst expectations of $0.74, while revenue of $5.69 billion slightly topped estimates and rose 0.9% year over year.
• The company announced a quarterly dividend of $0.55 per share, equivalent to a 3.0% yield. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $79.24.

Beutel Goodman & Co Ltd. lowered its stake in shares of Nutrien Ltd. (NYSE:NTR - Free Report) by 8.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,948,022 shares of the company's stock after selling 259,228 shares during the quarter. Nutrien comprises about 1.6% of Beutel Goodman & Co Ltd.'s holdings, making the stock its 27th largest position. Beutel Goodman & Co Ltd. owned approximately 0.62% of Nutrien worth $207,519,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP purchased a new position in shares of Nutrien in the 2nd quarter valued at approximately $654,081,000. Deutsche Bank AG acquired a new position in shares of Nutrien in the second quarter valued at approximately $588,720,000. Dimensional Fund Advisors LP raised its stake in shares of Nutrien by 4.3% during the first quarter. Dimensional Fund Advisors LP now owns 5,872,194 shares of the company's stock worth $443,151,000 after purchasing an additional 239,946 shares during the last quarter. TD Waterhouse Canada Inc. raised its stake in shares of Nutrien by 10.5% during the third quarter. TD Waterhouse Canada Inc. now owns 6,096,905 shares of the company's stock worth $424,331,000 after purchasing an additional 578,470 shares during the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Nutrien during the second quarter worth approximately $375,178,000. Institutional investors and hedge funds own 63.10% of the company's stock.

Nutrien Stock Up 1.1%

NTR opened at $72.28 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.39 and a quick ratio of 0.86. Nutrien Ltd. has a 12 month low of $54.52 and a 12 month high of $85.36. The stock has a market capitalization of $34.35 billion, a P/E ratio of 17.00, a P/E/G ratio of 0.80 and a beta of 0.67. The business has a 50 day simple moving average of $72.83 and a 200-day simple moving average of $71.13.

Nutrien (NYSE:NTR - Get Free Report) last announced its quarterly earnings data on Wednesday, November 4th. The company reported $0.61 earnings per share for the quarter, missing analysts' consensus estimates of $0.74 by ($0.13). The business had revenue of $5.69 billion for the quarter, compared to analyst estimates of $5.66 billion. Nutrien had a return on equity of 8.02% and a net margin of 7.78%. The company's revenue was up .9% on a year-over-year basis. During the same period in the prior year, the company earned $0.97 EPS. On average, equities analysts anticipate that Nutrien Ltd. will post 4.53 earnings per share for the current fiscal year.

Nutrien Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 31st will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Thursday, December 31st. Nutrien's payout ratio is presently 48.03%.

Analyst Ratings Changes

A number of research firms recently weighed in on NTR. KeyCorp began coverage on shares of Nutrien in a research report on Thursday, September 10th. They issued a "sector weight" rating and a $73.00 price objective on the stock. Raymond James Financial cut their price objective on shares of Nutrien from $90.00 to $83.00 and set an "outperform" rating for the company in a research report on Wednesday, October 28th. set a $85.00 target price on shares of Nutrien and gave the stock an "outperform" rating in a research note on Monday, October 5th. Freedom Broker started coverage on shares of Nutrien in a report on Tuesday, October 27th. They issued a "hold" rating and a $78.00 target price on the stock. Finally, Mizuho lowered their target price on shares of Nutrien from $77.00 to $75.00 and set a "neutral" rating on the stock in a report on Tuesday, July 14th. Sixteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Nutrien presently has a consensus rating of "Moderate Buy" and an average price target of $79.24.

About Nutrien

Nutrien Ltd. is a Canadian agricultural inputs and services company headquartered in Saskatoon, Saskatchewan. Formed in 2018 through the merger of Agrium and Potash Corporation of Saskatchewan, it serves farmers and other customers through fertilizer production and agricultural retail operations.

The company produces potash, nitrogen and phosphate fertilizers, which are used to support crop growth. It also sells crop protection products and seeds, and provides growers with agronomic advice and other services.

Nutrien's retail business operates primarily in North America, with additional operations in South America and Australia.

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