Gluskin Sheff & Assoc Inc. Sells 22,056 Shares of Nutrien Ltd. (NYSE:NTR)

Gluskin Sheff & Assoc Inc. lessened its position in Nutrien Ltd. (NYSE:NTR) by 7.9% during the first quarter, Holdings Channel reports. The fund owned 257,919 shares of the company’s stock after selling 22,056 shares during the period. Gluskin Sheff & Assoc Inc.’s holdings in Nutrien were worth $19,044,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Royal London Asset Management Ltd. purchased a new position in shares of Nutrien during the 4th quarter valued at about $119,000. Raymond James & Associates lifted its holdings in shares of Nutrien by 14.2% in the 4th quarter. Raymond James & Associates now owns 238,587 shares of the company’s stock worth $17,424,000 after acquiring an additional 29,757 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Nutrien by 14.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 2,590 shares of the company’s stock valued at $191,000 after purchasing an additional 319 shares in the last quarter. Lakewood Asset Management LLC bought a new position in shares of Nutrien during the 4th quarter valued at $496,000. Finally, Korea Investment CORP raised its position in Nutrien by 28.3% in the 4th quarter. Korea Investment CORP now owns 783,673 shares of the company’s stock worth $57,173,000 after purchasing an additional 172,648 shares during the period. Hedge funds and other institutional investors own 62.77% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on NTR shares. Royal Bank of Canada restated an “outperform” rating and set a $85.00 target price on shares of Nutrien in a report on Tuesday, August 8th. Stifel Nicolaus lowered their price target on shares of Nutrien from $75.00 to $73.00 in a report on Friday, June 30th. Barclays lowered shares of Nutrien from an “overweight” rating to an “underweight” rating and cut their price target for the stock from $70.00 to $68.00 in a report on Monday, August 14th. Mizuho dropped their target price on shares of Nutrien from $75.00 to $74.00 and set a “neutral” rating for the company in a report on Monday, July 31st. Finally, HSBC reduced their price target on Nutrien from $81.00 to $72.00 and set a “hold” rating on the stock in a report on Wednesday, July 26th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $79.79.

Nutrien Stock Up 0.3 %

NYSE:NTR traded up $0.18 during mid-day trading on Tuesday, hitting $62.97. 102,786 shares of the company’s stock were exchanged, compared to its average volume of 2,321,301. The company has a market cap of $31.14 billion, a PE ratio of 8.82, a P/E/G ratio of 1.17 and a beta of 0.93. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.26 and a quick ratio of 0.78. Nutrien Ltd. has a one year low of $52.23 and a one year high of $93.18. The business has a fifty day moving average price of $63.43 and a 200 day moving average price of $65.74.

Nutrien (NYSE:NTR) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported $2.53 EPS for the quarter, missing analysts’ consensus estimates of $2.83 by ($0.30). Nutrien had a return on equity of 16.41% and a net margin of 11.05%. The company had revenue of $11.65 billion during the quarter, compared to the consensus estimate of $11.04 billion. During the same period in the prior year, the firm earned $5.85 earnings per share. The business’s revenue for the quarter was down 19.7% compared to the same quarter last year. Equities analysts predict that Nutrien Ltd. will post 6.68 EPS for the current year.

Nutrien Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $2.12 annualized dividend and a dividend yield of 3.37%. Nutrien’s payout ratio is presently 29.78%.

Nutrien Profile

Nutrien Ltd. provides crop inputs and services. The company operates through Retail, Potash, Nitrogen, and Phosphate segments. The Retail segment distributes crop nutrients, crop protection products, seeds, and merchandise products. The Potash segment provides granular and standard potash products. The Nitrogen segment offers ammonia, urea, urea ammonium nitrate, industrial grade ammonium nitrate, and ammonium sulfate.