Zurcher Kantonalbank Zurich Cantonalbank Cuts Stock Position in Nutrien Ltd. (NYSE:NTR)

Zurcher Kantonalbank Zurich Cantonalbank decreased its position in shares of Nutrien Ltd. (NYSE:NTR) by 16.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 212,314 shares of the company’s stock after selling 43,107 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Nutrien were worth $10,214,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Goodman Financial Corp increased its position in shares of Nutrien by 4.6% during the third quarter. Goodman Financial Corp now owns 253,860 shares of the company’s stock worth $12,201,000 after acquiring an additional 11,058 shares during the period. CORDA Investment Management LLC. grew its stake in Nutrien by 7.0% during 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 in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Nutrien by 10.0% during 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 period. Manning & Napier Advisors LLC acquired a new stake in Nutrien in the 2nd quarter valued at about $2,639,000. Finally, Cardinal Capital Management Inc. boosted 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 buying an additional 23,117 shares during the period. 63.10% of the stock is currently owned by hedge funds and other institutional investors.

Nutrien Price Performance

NTR stock opened at $46.66 on Monday. The business has a 50 day simple moving average of $47.93 and a 200-day simple moving average of $49.71. The company has a market capitalization of $23.05 billion, a P/E ratio of 31.32, a PEG ratio of 1.64 and a beta of 0.82. Nutrien Ltd. has a twelve month low of $44.65 and a twelve month high of $60.87. The company has a current ratio of 1.27, a quick ratio of 0.82 and a debt-to-equity ratio of 0.38.

Nutrien (NYSE:NTR) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm’s revenue for the quarter was down 5.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.35 EPS. As a group, equities analysts anticipate that Nutrien Ltd. will post 3.56 EPS for the current year.

Nutrien Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.939 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 8.05%. This is a positive change from Nutrien’s previous quarterly dividend of $0.54. Nutrien’s dividend payout ratio (DPR) is currently 144.97%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. TD Securities cut their target price on shares of Nutrien from $63.00 to $61.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. The Goldman Sachs Group downgraded shares of Nutrien from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $69.00 to $53.00 in a research report on Tuesday, September 10th. Mizuho decreased their price objective on shares of Nutrien from $55.00 to $52.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Barclays dropped their target price on Nutrien from $68.00 to $55.00 and set an “overweight” rating on the stock in a report on Friday, August 16th. Finally, UBS Group downgraded Nutrien from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $66.00 to $51.00 in a report on Thursday, October 10th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average 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.