Connor Clark & Lunn Investment Management Ltd. Acquires 327,799 Shares of Nutrien Ltd. (NYSE:NTR)

Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Nutrien Ltd. (NYSE:NTR - Free Report) by 34.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,287,220 shares of the company's stock after purchasing an additional 327,799 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.26% of Nutrien worth $61,848,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Nutrien by 3.1% in the first quarter. Vanguard Group Inc. now owns 18,781,287 shares of the company's stock worth $1,020,012,000 after buying an additional 570,912 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of Nutrien by 9.6% in the first quarter. Acadian Asset Management LLC now owns 27,400 shares of the company's stock worth $1,488,000 after acquiring an additional 2,400 shares during the period. Covestor Ltd grew its holdings in 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 during the period. Seven Eight Capital LP purchased a new position in shares of Nutrien in the first quarter worth about $275,000. Finally, Clearbridge Investments LLC increased its position in shares of Nutrien by 25.7% during the 1st quarter. Clearbridge Investments LLC now owns 724,267 shares of the company's stock worth $39,403,000 after purchasing an additional 148,226 shares during the last quarter. 63.10% of the stock is owned by institutional investors.

Nutrien Price Performance

Shares of NTR traded up $0.33 on Wednesday, reaching $45.89. The stock had a trading volume of 1,724,698 shares, compared to its average volume of 1,973,665. The firm has a 50-day moving average of $47.98 and a 200 day moving average of $50.28. The company has a quick ratio of 0.82, a current ratio of 1.27 and a debt-to-equity ratio of 0.38. Nutrien Ltd. has a twelve month low of $44.65 and a twelve month high of $60.87. The firm has a market capitalization of $22.67 billion, a PE ratio of 30.58, a PEG ratio of 1.61 and a beta of 0.82.

Nutrien (NYSE:NTR - Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.04). The firm had revenue of $5.35 billion during the quarter, compared to analyst estimates of $5.26 billion. Nutrien had a return on equity of 6.99% and a net margin of 2.79%. Nutrien's revenue was down 5.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.35 EPS. Sell-side analysts expect that Nutrien Ltd. will post 3.59 EPS for the current year.

Nutrien Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.939 per share. This represents a $3.76 dividend on an annualized basis and a yield of 8.18%. This is a boost from Nutrien's previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Tuesday, December 31st. Nutrien's dividend payout ratio is 144.97%.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Hsbc Global Res downgraded Nutrien from a "hold" rating to a "moderate sell" rating in a research note on Friday, August 2nd. Mizuho dropped their target price on Nutrien from $55.00 to $52.00 and set a "neutral" rating for the company in a report on Thursday, August 8th. Wells Fargo & Company downgraded shares of Nutrien from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $62.00 to $50.00 in a research report on Tuesday, September 24th. HSBC downgraded shares of Nutrien from a "hold" rating to a "reduce" rating in a report on Friday, August 2nd. Finally, BMO Capital Markets lowered their price target on Nutrien from $80.00 to $75.00 and set an "outperform" rating for the company in a research report on Friday, August 9th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price 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.