Forsta AP Fonden Sells 6,100 Shares of Nutrien Ltd. $NTR

Forsta AP Fonden reduced its position in Nutrien Ltd. (NYSE:NTR) by 5.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 104,000 shares of the company’s stock after selling 6,100 shares during the quarter. Forsta AP Fonden’s holdings in Nutrien were worth $6,048,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Huntington National Bank grew its position in Nutrien by 72.6% during the second quarter. Huntington National Bank now owns 656 shares of the company’s stock valued at $38,000 after acquiring an additional 276 shares during the last quarter. Harbour Investments Inc. grew its holdings in shares of Nutrien by 94.8% during the 1st quarter. Harbour Investments Inc. now owns 715 shares of the company’s stock valued at $35,000 after purchasing an additional 348 shares during the last quarter. Trust Co. of Toledo NA OH purchased a new position in Nutrien in the 2nd quarter worth $49,000. Allworth Financial LP lifted its stake in Nutrien by 117.1% in the first quarter. Allworth Financial LP now owns 938 shares of the company’s stock worth $50,000 after purchasing an additional 506 shares during the last quarter. Finally, Andra AP fonden bought a new stake in Nutrien in the second quarter worth $58,000. 63.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NTR has been the subject of a number of recent research reports. Wells Fargo & Company assumed coverage on Nutrien in a research note on Tuesday. They issued an “equal weight” rating and a $64.00 target price for the company. Jefferies Financial Group decreased their target price on shares of Nutrien from $61.00 to $60.00 and set a “hold” rating on the stock in a research note on Tuesday, September 9th. Mizuho dropped their price target on shares of Nutrien from $64.00 to $61.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. Scotiabank decreased their price objective on shares of Nutrien from $65.00 to $63.00 and set a “sector perform” rating on the stock in a research report on Monday, November 10th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Nutrien in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $62.94.

Nutrien Stock Performance

Nutrien stock opened at $59.34 on Friday. Nutrien Ltd. has a fifty-two week low of $43.69 and a fifty-two week high of $65.08. The stock’s 50 day simple moving average is $57.60 and its two-hundred day simple moving average is $58.38. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.85 and a current ratio of 1.33. The stock has a market cap of $28.74 billion, a price-to-earnings ratio of 21.27, a PEG ratio of 0.92 and a beta of 0.83.

Nutrien (NYSE:NTR) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.06. The company had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.59 billion. Nutrien had a return on equity of 6.51% and a net margin of 5.25%.The firm’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.39 earnings per share. As a group, analysts expect that Nutrien Ltd. will post 3.72 earnings per share for the current fiscal year.

Nutrien Announces Dividend

The firm 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. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $2.18 annualized dividend and a yield of 3.7%. Nutrien’s payout ratio is presently 58.76%.

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.