Nutrien Ltd. $NTR Stock Sold by Triasima Portfolio Management inc.

Key Points

• Triasima Portfolio Management cut its Nutrien stake by 83.5% in the third quarter, selling 22,532 shares and retaining 4,460 shares worth approximately $314,000.
• Despite Triasima’s reduction, institutional ownership remains substantial at 63.1%, with several major investors—including Wellington Management, Deutsche Bank and BlackRock—having recently established new positions.
• Nutrien shares recently traded at $71.25, while analysts maintain a “Moderate Buy” consensus with an average price target of $79.90; the company also pays a $2.20 annualized dividend, yielding about 3.1%.

Triasima Portfolio Management inc. cut its position in Nutrien Ltd. (NYSE:NTR - Free Report) by 83.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,460 shares of the company's stock after selling 22,532 shares during the quarter. Triasima Portfolio Management inc.'s holdings in Nutrien were worth $314,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP acquired a new position in Nutrien during the 2nd quarter worth about $654,081,000. Deutsche Bank AG acquired a new position in Nutrien in the 2nd quarter valued at about $588,720,000. The Manufacturers Life Insurance Company acquired a new position in Nutrien in the 2nd quarter valued at about $375,178,000. Canada Pension Plan Investment Board acquired a new position in Nutrien in the 2nd quarter valued at about $359,318,000. Finally, BlackRock Inc. purchased a new stake in Nutrien during the second quarter worth about $220,942,000. Hedge funds and other institutional investors own 63.10% of the company's stock.

Nutrien Stock Up 2.4%

NYSE:NTR traded up $1.67 during midday trading on Friday, reaching $71.25. The company had a trading volume of 2,682,514 shares, compared to its average volume of 2,578,794. The firm has a market capitalization of $33.92 billion, a price-to-earnings ratio of 14.42, a PEG ratio of 0.75 and a beta of 0.68. The stock's fifty day simple moving average is $73.28 and its 200-day simple moving average is $70.53. Nutrien Ltd. has a 12-month low of $53.03 and a 12-month high of $85.36. The company has a current ratio of 1.39, a quick ratio of 0.86 and a debt-to-equity ratio of 0.36.

Nutrien (NYSE:NTR - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $2.61 EPS for the quarter, missing the consensus estimate of $2.70 by ($0.09). The company had revenue of $10.81 billion for the quarter, compared to analyst estimates of $10.44 billion. Nutrien had a return on equity of 8.88% and a net margin of 8.44%. The company's revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.65 earnings per share. On average, sell-side analysts anticipate that Nutrien Ltd. will post 4.63 earnings per share for the current fiscal year.

Nutrien Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Stockholders of record on Tuesday, September 29th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Tuesday, September 29th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.1%. Nutrien's payout ratio is currently 44.53%.

Analyst Ratings Changes

NTR has been the topic of several research reports. Royal Bank Of Canada reissued an "outperform" rating and set a $85.00 price target on shares of Nutrien in a research report on Friday, September 18th. Scotia raised shares of Nutrien from a "sector perform" rating to a "sector outperform" rating and set a $80.00 price objective for the company in a research note on Tuesday, June 30th. Morgan Stanley dropped their price objective on shares of Nutrien from $93.00 to $81.00 and set an "overweight" rating for the company in a report on Tuesday, July 7th. Weiss Ratings upgraded shares of Nutrien from a "buy (b-)" rating to a "buy (b)" rating in a report on Friday, October 2nd. Finally, BNP Paribas Exane raised shares of Nutrien from a "neutral" rating to an "outperform" rating and set a $80.00 target price on the stock in a research note on Tuesday, July 28th. Sixteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $79.90.

About Nutrien

Nutrien Ltd. is a Canada-based provider of crop inputs, services and solutions for agricultural producers. The company produces and distributes potash, nitrogen and phosphate products, which are used to support crop nutrition and agricultural productivity. Its product portfolio also includes crop protection products, seed, farm supplies and other agronomic inputs.

Nutrien serves farmers through a broad retail network operating primarily across North and South America, Australia and other international markets.

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