Franklin Resources Inc. cut its holdings in shares of Nutrien Ltd. (NYSE:NTR - Free Report) by 6.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 339,641 shares of the company's stock after selling 22,698 shares during the quarter. Franklin Resources Inc. owned approximately 0.07% of Nutrien worth $16,766,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Goodman Financial Corp increased its stake in shares of Nutrien by 4.6% in the third quarter. Goodman Financial Corp now owns 253,860 shares of the company's stock worth $12,201,000 after buying an additional 11,058 shares during the last quarter. CORDA Investment Management LLC. increased its position in shares of Nutrien by 7.0% in the 3rd quarter. CORDA Investment Management LLC. now owns 494,745 shares of the company's stock worth $23,777,000 after purchasing an additional 32,541 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Nutrien by 10.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,742,351 shares of the company's stock worth $83,812,000 after purchasing an additional 157,932 shares during the last quarter. Cardinal Capital Management Inc. raised its stake in shares of Nutrien by 4.3% in the 3rd quarter. Cardinal Capital Management Inc. now owns 564,078 shares of the company's stock valued at $27,139,000 after purchasing an additional 23,117 shares in the last quarter. Finally, Stephens Inc. AR lifted its position in shares of Nutrien by 335.0% during the third quarter. Stephens Inc. AR now owns 70,301 shares of the company's stock worth $3,379,000 after purchasing an additional 54,138 shares during the last quarter. 63.10% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on the company. The Goldman Sachs Group cut Nutrien from a "buy" rating to a "neutral" rating and cut their price objective for the company from $69.00 to $53.00 in a research note on Tuesday, September 10th. TD Securities lowered their price target on Nutrien from $63.00 to $61.00 and set a "buy" rating for the company in a report on Tuesday, November 12th. CIBC restated an "outperformer" rating and set a $55.00 price objective (down from $60.00) on shares of Nutrien in a research note on Tuesday, December 10th. Raymond James upgraded shares of Nutrien from a "market perform" rating to an "outperform" rating and boosted their target price for the company from $58.00 to $60.00 in a research note on Tuesday, December 3rd. Finally, Oppenheimer began coverage on shares of Nutrien in a research report on Thursday, December 12th. They issued an "outperform" rating and a $60.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $58.95.
Get Our Latest Analysis on NTR
Nutrien Stock Performance
Shares of NTR traded up $0.54 during trading hours on Friday, reaching $44.58. 2,958,389 shares of the company's stock traded hands, compared to its average volume of 1,964,006. Nutrien Ltd. has a twelve month low of $43.87 and a twelve month high of $60.87. The business's fifty day simple moving average is $47.48 and its two-hundred day simple moving average is $48.59. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.27 and a quick ratio of 0.82. The firm has a market capitalization of $21.95 billion, a price-to-earnings ratio of 29.92, a P/E/G ratio of 1.73 and a beta of 0.80.
Nutrien (NYSE:NTR - Get Free Report) last released 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 company had revenue of $5.35 billion for the quarter, compared to analyst estimates of $5.26 billion. Nutrien had a net margin of 2.79% and a return on equity of 6.99%. The firm's quarterly revenue was down 5.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.35 EPS. Analysts predict that Nutrien Ltd. will post 3.5 earnings per share for the current year.
Nutrien Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Tuesday, December 31st will be given a $0.939 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 8.43%. This is an increase 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%.
About Nutrien
(
Free Report)
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.
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