Connor Clark & Lunn Investment Management Ltd. Reduces Stock Position in Nutrien Ltd. $NTR

Connor Clark & Lunn Investment Management Ltd. lessened its holdings in Nutrien Ltd. (NYSE:NTR) by 0.4% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,177,526 shares of the company’s stock after selling 4,895 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.24% of Nutrien worth $68,659,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in NTR. Harbour Investments Inc. grew its holdings in shares of Nutrien by 94.8% in the first quarter. Harbour Investments Inc. now owns 715 shares of the company’s stock worth $35,000 after purchasing an additional 348 shares during the last quarter. Huntington National Bank boosted its position in Nutrien by 72.6% in the 2nd quarter. Huntington National Bank now owns 656 shares of the company’s stock valued at $38,000 after buying an additional 276 shares during the period. Trust Co. of Toledo NA OH bought a new position in Nutrien in the 2nd quarter worth about $49,000. Allworth Financial LP increased its position in shares of Nutrien by 117.1% during the first quarter. Allworth Financial LP now owns 938 shares of the company’s stock worth $50,000 after acquiring an additional 506 shares during the period. Finally, Caitong International Asset Management Co. Ltd increased its position in shares of Nutrien by 1,074.7% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,022 shares of the company’s stock worth $51,000 after acquiring an additional 935 shares during the period. 63.10% of the stock is currently owned by institutional investors.

Nutrien Trading Up 2.2%

Shares of NYSE NTR opened at $56.80 on Friday. Nutrien Ltd. has a 1-year low of $43.69 and a 1-year high of $65.08. The business has a fifty day moving average price of $57.38 and a 200 day moving average price of $58.23. The stock has a market capitalization of $27.52 billion, a P/E ratio of 20.36, a price-to-earnings-growth ratio of 0.92 and a beta of 0.83. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.33 and a quick ratio of 0.85.

Nutrien (NYSE:NTR) last posted its earnings results on Wednesday, November 5th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.06. The company had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.59 billion. Nutrien had a return on equity of 6.51% and a net margin of 5.25%.The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.39 earnings per share. Equities research analysts expect that Nutrien Ltd. will post 3.72 EPS for the current fiscal year.

Nutrien Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Investors of record on Wednesday, December 31st will be paid a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Wednesday, December 31st. Nutrien’s payout ratio is 58.76%.

Analysts Set New Price Targets

Several research analysts recently issued reports on NTR shares. Zacks Research cut Nutrien from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 16th. National Bank Financial started coverage on Nutrien in a report on Friday, September 5th. They issued a “sector perform” rating for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Nutrien in a research report on Wednesday, October 8th. TD Securities lifted their price objective on Nutrien from $70.00 to $72.00 and gave the company a “buy” rating in a report on Monday, August 11th. Finally, Mizuho lowered their price objective on shares of Nutrien from $64.00 to $61.00 and set a “neutral” rating for the company in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $62.83.

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.