Mackenzie Financial Corp Decreases Stock Position in Nutrien Ltd. (NYSE:NTR)

Mackenzie Financial Corp cut its holdings in shares of Nutrien Ltd. (NYSE:NTR - Free Report) by 3.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,404,304 shares of the company's stock after selling 449,893 shares during the period. Nutrien makes up 1.0% of Mackenzie Financial Corp's portfolio, making the stock its 19th biggest position. Mackenzie Financial Corp owned about 2.71% of Nutrien worth $682,505,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of NTR. Family Firm Inc. bought a new stake in Nutrien during the 2nd quarter valued at approximately $32,000. GoalVest Advisory LLC bought a new stake in Nutrien during the first quarter valued at about $35,000. Trust Co. of Vermont increased its position in shares of Nutrien by 50.0% during 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 in the last quarter. Covestor Ltd grew its position in Nutrien by 33.3% during the 1st quarter. Covestor Ltd now owns 932 shares of the company's stock worth $50,000 after purchasing an additional 233 shares during the last quarter. Finally, Andra AP fonden acquired a new position in shares of Nutrien in the second quarter valued at about $51,000. 63.10% of the stock is currently owned by institutional investors.

Nutrien Stock Up 3.1 %

NTR stock opened at $48.66 on Friday. The company has a 50-day moving average of $47.78 and a two-hundred day moving average of $51.75. Nutrien Ltd. has a 52-week low of $44.65 and a 52-week high of $63.60. The stock has a market capitalization of $24.08 billion, a price-to-earnings ratio of 28.46, a price-to-earnings-growth ratio of 1.55 and a beta of 0.82. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.26 and a quick ratio of 0.82.

Nutrien (NYSE:NTR - Get Free Report) last released its quarterly earnings data on Wednesday, August 7th. The company reported $2.34 EPS for the quarter, topping analysts' consensus estimates of $2.19 by $0.15. Nutrien had a net margin of 2.97% and a return on equity of 6.91%. The company had revenue of $10.16 billion during the quarter, compared to the consensus estimate of $10.82 billion. During the same period last year, the firm earned $2.53 EPS. The firm's revenue for the quarter was down 12.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Nutrien Ltd. will post 3.83 EPS for the current year.

Nutrien Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Friday, September 27th will be given a $0.54 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a yield of 4.44%. Nutrien's payout ratio is 126.32%.

Wall Street Analyst Weigh In

NTR has been the topic of a number of analyst reports. Wells Fargo & Company cut Nutrien from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $62.00 to $50.00 in a research report on Tuesday. Scotiabank reduced their target price on shares of Nutrien from $66.00 to $59.00 and set a "sector outperform" rating on the stock in a report on Monday, August 12th. The Goldman Sachs Group cut shares of Nutrien from a "buy" rating to a "neutral" rating and lowered their target price for the company from $69.00 to $53.00 in a report on Tuesday, September 10th. Mizuho dropped their price target on Nutrien from $55.00 to $52.00 and set a "neutral" rating on the stock in a research note on Thursday, August 8th. Finally, UBS Group decreased their price objective on Nutrien from $67.00 to $66.00 and set a "buy" rating for the company in a research report on Tuesday, July 9th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven 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 $61.50.

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.

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