Nutrien Ltd (NYSE:NTR) Shares Sold by Letko Brosseau & Associates Inc.
Letko Brosseau & Associates Inc. trimmed its holdings in Nutrien Ltd (NYSE:NTR) by 2.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,441,605 shares of the company’s stock after selling 43,103 shares during the period. Letko Brosseau & Associates Inc. owned about 0.25% of Nutrien worth $77,279,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the business. Icon Wealth Partners LLC acquired a new stake in shares of Nutrien during the 1st quarter valued at approximately $35,000. Bessemer Group Inc. raised its position in shares of Nutrien by 354.4% during the 2nd quarter. Bessemer Group Inc. now owns 727 shares of the company’s stock valued at $39,000 after acquiring an additional 567 shares in the last quarter. Liberty Wealth Management LLC raised its position in shares of Nutrien by 340.5% during the 2nd quarter. Liberty Wealth Management LLC now owns 740 shares of the company’s stock valued at $40,000 after acquiring an additional 572 shares in the last quarter. FTB Advisors Inc. increased its position in Nutrien by 29.9% in the first quarter. FTB Advisors Inc. now owns 882 shares of the company’s stock worth $46,000 after buying an additional 203 shares during the period. Finally, Coastal Investment Advisors Inc. increased its position in Nutrien by 63.8% in the second quarter. Coastal Investment Advisors Inc. now owns 929 shares of the company’s stock worth $49,000 after buying an additional 362 shares during the period. 68.37% of the stock is currently owned by institutional investors.
Several equities research analysts have weighed in on the company. Raymond James reaffirmed a “strong-buy” rating and issued a $70.00 target price on shares of Nutrien in a research report on Tuesday, July 30th. TD Securities increased their target price on Nutrien from $68.00 to $69.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Cowen reaffirmed an “outperform” rating and issued a $63.00 target price (down from $66.00) on shares of Nutrien in a research report on Tuesday, April 23rd. Citigroup set a $61.00 target price on Nutrien and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, BMO Capital Markets set a $60.00 target price on Nutrien and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $62.00.
Nutrien (NYSE:NTR) last released its quarterly earnings results on Monday, July 29th. The company reported $1.58 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.59 by ($0.01). The firm had revenue of $8.66 billion during the quarter, compared to the consensus estimate of $8.17 billion. During the same period last year, the firm posted $1.48 earnings per share. The business’s quarterly revenue was up 6.8% on a year-over-year basis. On average, equities analysts forecast that Nutrien Ltd will post 2.83 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Monday, September 30th will be paid a $0.45 dividend. This is a boost from Nutrien’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Friday, September 27th. This represents a $1.80 annualized dividend and a dividend yield of 3.70%. Nutrien’s dividend payout ratio is presently 63.94%.
Nutrien Ltd. produces and markets crop nutrients to agricultural, industrial, and feed customers worldwide. It operates in four segments: Retail, Potash, Nitrogen, and Phosphate and Sulfate. The company offers potash, nitrogen, phosphate, and sulfate products. It also distributes crop nutrients, crop protection products, seeds, and merchandise products through operating 1,700 retail locations.
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