Parnassus Investments LLC Has $75.18 Million Stock Position in Nutrien Ltd. (NYSE:NTR)

Parnassus Investments LLC lowered its stake in Nutrien Ltd. (NYSE:NTR - Free Report) by 46.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,564,307 shares of the company's stock after selling 1,354,214 shares during the period. Parnassus Investments LLC owned approximately 0.32% of Nutrien worth $75,181,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Aviance Capital Partners LLC raised its position in Nutrien by 85.2% during the third quarter. Aviance Capital Partners LLC now owns 23,872 shares of the company's stock valued at $1,147,000 after purchasing an additional 10,981 shares in the last quarter. Swiss National Bank increased its stake in shares of Nutrien by 0.8% in the 3rd quarter. Swiss National Bank now owns 1,495,836 shares of the company's stock valued at $71,995,000 after purchasing an additional 11,800 shares during the last quarter. Natixis Advisors LLC raised its holdings in shares of Nutrien by 16.3% during the 3rd quarter. Natixis Advisors LLC now owns 34,519 shares of the company's stock worth $1,659,000 after buying an additional 4,832 shares in the last quarter. Metis Global Partners LLC lifted its position in shares of Nutrien by 51.3% during the 3rd quarter. Metis Global Partners LLC now owns 124,317 shares of the company's stock worth $5,974,000 after buying an additional 42,167 shares during the last quarter. Finally, MQS Management LLC acquired a new stake in Nutrien in the third quarter valued at about $665,000. 63.10% of the stock is currently owned by institutional investors and hedge funds.

Nutrien Trading Down 0.1 %

Nutrien stock traded down $0.04 during trading hours on Tuesday, reaching $45.56. 1,303,748 shares of the company's stock were exchanged, compared to its average volume of 1,969,539. The firm has a market capitalization of $22.50 billion, a PE ratio of 30.60, a PEG ratio of 1.61 and a beta of 0.82. The company has a quick ratio of 0.82, a current ratio of 1.27 and a debt-to-equity ratio of 0.38. The firm's 50 day simple moving average is $47.98 and its 200 day simple moving average is $50.34. Nutrien Ltd. has a twelve month low of $44.65 and a twelve month high of $60.87.

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 business had revenue of $5.35 billion for 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%. The company's revenue for the quarter was down 5.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.35 EPS. Research analysts predict that Nutrien Ltd. will post 3.59 earnings per share for the current year.

Nutrien Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Tuesday, December 31st will be given a dividend of $0.939 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 8.24%. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from Nutrien's previous quarterly dividend of $0.54. Nutrien's payout ratio is presently 144.97%.

Analyst Ratings Changes

NTR has been the subject of several research analyst reports. Wells Fargo & Company downgraded Nutrien from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $62.00 to $50.00 in a research note on Tuesday, September 24th. Scotiabank lowered their price objective on shares of Nutrien from $66.00 to $59.00 and set a "sector outperform" rating for the company in a research report on Monday, August 12th. Barclays cut 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. Mizuho lowered their price target on shares of Nutrien from $55.00 to $52.00 and set a "neutral" rating for the company in a report on Thursday, August 8th. Finally, The Goldman Sachs Group downgraded 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 report on Tuesday, September 10th. Three analysts have rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $60.33.

Nutrien 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.