CIBC Asset Management Inc Sells 2,275,627 Shares of Nutrien Ltd. (NYSE:NTR)

CIBC Asset Management Inc trimmed its position in shares of Nutrien Ltd. (NYSE:NTR - Free Report) by 38.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,579,170 shares of the company's stock after selling 2,275,627 shares during the quarter. CIBC Asset Management Inc owned 0.72% of Nutrien worth $172,375,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Central Pacific Bank Trust Division acquired a new position in shares of Nutrien during the third quarter valued at about $28,000. Family Firm Inc. bought a new stake in Nutrien during the 2nd quarter worth approximately $32,000. Trust Co. of Vermont raised its stake in shares of Nutrien by 50.0% in the second quarter. Trust Co. of Vermont now owns 900 shares of the company's stock worth $46,000 after purchasing an additional 300 shares during the last quarter. Covestor Ltd lifted its holdings in shares of Nutrien by 33.3% in the first quarter. Covestor Ltd now owns 932 shares of the company's stock valued at $50,000 after purchasing an additional 233 shares in the last quarter. Finally, Andra AP fonden purchased a new position in shares of Nutrien during the second quarter valued at approximately $51,000. 63.10% of the stock is currently owned by institutional investors.

Nutrien Price Performance

Nutrien stock traded down $0.35 during mid-day trading on Friday, hitting $46.02. 1,598,820 shares of the company traded hands, compared to its average volume of 1,967,345. The stock has a fifty day moving average price of $47.99 and a 200-day moving average price of $50.47. The stock has a market cap of $22.73 billion, a price-to-earnings ratio of 31.09, a price-to-earnings-growth ratio of 1.60 and a beta of 0.82. Nutrien Ltd. has a one year low of $44.65 and a one year high of $60.87. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.82 and a current ratio of 1.27.

Nutrien (NYSE:NTR - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.39 earnings per share for the quarter, missing analysts' consensus estimates of $0.43 by ($0.04). The firm had revenue of $5.35 billion for the quarter, compared to analysts' expectations of $5.26 billion. Nutrien had a net margin of 2.79% and a return on equity of 6.99%. The business's quarterly revenue was down 5.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.35 earnings per share. On average, equities analysts predict that Nutrien Ltd. will post 3.65 earnings per share for the current fiscal year.

Nutrien Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.939 per share. This is a positive change from Nutrien's previous quarterly dividend of $0.54. This represents a $3.76 dividend on an annualized basis and a yield of 8.16%. The ex-dividend date of this dividend is Tuesday, December 31st. Nutrien's dividend payout ratio (DPR) is currently 144.97%.

Analyst Ratings Changes

Several brokerages have weighed in on NTR. UBS Group cut Nutrien from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $66.00 to $51.00 in a research note on Thursday, October 10th. The Goldman Sachs Group downgraded shares of Nutrien from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $69.00 to $53.00 in a research report on Tuesday, September 10th. Barclays dropped their target price on shares of Nutrien from $68.00 to $55.00 and set an "overweight" rating on the stock in a research report on Friday, August 16th. Royal Bank of Canada reiterated an "outperform" rating and set a $60.00 price target on shares of Nutrien in a report on Friday, September 20th. Finally, Hsbc Global Res downgraded Nutrien from a "hold" rating to a "moderate sell" rating in a research note on Friday, August 2nd. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $60.33.

About Nutrien

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.