Beutel Goodman & Co Ltd. Sells 613,841 Shares of Nutrien Ltd. (NYSE:NTR)

Beutel Goodman & Co Ltd. reduced its position in shares of Nutrien Ltd. (NYSE:NTR - Free Report) by 9.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,701,812 shares of the company's stock after selling 613,841 shares during the period. Beutel Goodman & Co Ltd. owned approximately 1.16% of Nutrien worth $254,999,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in NTR. Pictet Asset Management Holding SA increased its stake in Nutrien by 21.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 263,893 shares of the company's stock worth $11,802,000 after acquiring an additional 47,387 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its stake in Nutrien by 8.7% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 244,000 shares of the company's stock valued at $10,919,000 after purchasing an additional 19,600 shares in the last quarter. Norges Bank bought a new stake in Nutrien during the fourth quarter valued at approximately $241,958,000. Sava Infond d.o.o. purchased a new position in Nutrien in the 4th quarter worth approximately $1,054,000. Finally, Tyler Stone Wealth Management increased its holdings in shares of Nutrien by 24.7% in the 4th quarter. Tyler Stone Wealth Management now owns 27,640 shares of the company's stock worth $1,237,000 after buying an additional 5,470 shares during the last quarter. Institutional investors own 63.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NTR. Raymond James upgraded shares of Nutrien from a "market perform" rating to an "outperform" rating and upped their target price for the stock from $58.00 to $60.00 in a research report on Tuesday, December 3rd. Mizuho increased their price objective on Nutrien from $52.00 to $55.00 and gave the company a "neutral" rating in a research report on Thursday, February 20th. Scotiabank boosted their target price on Nutrien from $60.00 to $62.00 and gave the stock a "sector outperform" rating in a research report on Monday, February 24th. Piper Sandler increased their price target on shares of Nutrien from $58.00 to $63.00 and gave the company an "overweight" rating in a research report on Monday, January 27th. Finally, The Goldman Sachs Group started coverage on shares of Nutrien in a research note on Thursday, March 13th. They set a "sell" rating and a $53.00 price target on the stock. Two research analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $60.00.

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Nutrien Stock Up 0.1 %

Nutrien stock traded up $0.05 on Wednesday, hitting $49.61. 563,559 shares of the stock traded hands, compared to its average volume of 2,022,061. The business's fifty day simple moving average is $51.52 and its 200 day simple moving average is $49.06. The firm has a market cap of $24.25 billion, a P/E ratio of 36.21, a price-to-earnings-growth ratio of 1.19 and a beta of 0.81. The company has a current ratio of 1.27, a quick ratio of 0.82 and a debt-to-equity ratio of 0.38. Nutrien Ltd. has a 1 year low of $43.70 and a 1 year high of $60.87.

Nutrien (NYSE:NTR - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.28 EPS for the quarter, missing analysts' consensus estimates of $0.37 by ($0.09). The company had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $5.09 billion. Nutrien had a return on equity of 6.81% and a net margin of 2.62%. As a group, sell-side analysts forecast that Nutrien Ltd. will post 3.72 earnings per share for the current year.

Nutrien Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be given a $0.545 dividend. This represents a $2.18 annualized dividend and a dividend yield of 4.39%. The ex-dividend date of this dividend is Monday, March 31st. Nutrien's dividend payout ratio is presently 159.12%.

Nutrien Company Profile

Nutrien Ltd. provides crop inputs and services. The company operates through four segments: Retail, Potash, Nitrogen, and Phosphate. The Retail segment distributes crop nutrients, crop protection products, seeds, and merchandise products. The Potash segment provides granular and standard potash products.