Dixon Mitchell Investment Counsel Inc. Sells 207,287 Shares of Nutrien Ltd. $NTR

Dixon Mitchell Investment Counsel Inc. trimmed its holdings in Nutrien Ltd. (NYSE:NTR) by 96.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,542 shares of the company’s stock after selling 207,287 shares during the quarter. Dixon Mitchell Investment Counsel Inc.’s holdings in Nutrien were worth $408,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Smith Moore & CO. raised its holdings in shares of Nutrien by 2.2% in the third quarter. Smith Moore & CO. now owns 7,642 shares of the company’s stock valued at $449,000 after buying an additional 168 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in Nutrien by 21.8% during the 4th quarter. EverSource Wealth Advisors LLC now owns 983 shares of the company’s stock worth $61,000 after purchasing an additional 176 shares during the last quarter. AMG National Trust Bank raised its holdings in Nutrien by 4.0% during the 3rd quarter. AMG National Trust Bank now owns 4,986 shares of the company’s stock worth $293,000 after purchasing an additional 193 shares during the last quarter. Bessemer Group Inc. raised its holdings in Nutrien by 27.7% during the 3rd quarter. Bessemer Group Inc. now owns 937 shares of the company’s stock worth $55,000 after purchasing an additional 203 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in Nutrien by 11.5% during the 4th quarter. Farther Finance Advisors LLC now owns 2,103 shares of the company’s stock worth $130,000 after purchasing an additional 217 shares during the last quarter. 63.10% of the stock is owned by institutional investors.

Nutrien Price Performance

Nutrien stock opened at $67.65 on Friday. The firm has a market capitalization of $32.47 billion, a P/E ratio of 13.78, a PEG ratio of 0.62 and a beta of 0.60. Nutrien Ltd. has a 1 year low of $53.03 and a 1 year high of $85.36. The business has a 50-day moving average of $71.34 and a 200-day moving average of $69.17. The company has a current ratio of 1.24, a quick ratio of 0.59 and a debt-to-equity ratio of 0.35.

Nutrien (NYSE:NTR) last posted its earnings results on Wednesday, May 6th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.03. The company had revenue of $6.05 billion during the quarter, compared to analyst estimates of $5.30 billion. Nutrien had a return on equity of 8.84% and a net margin of 8.58%.The company’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.11 EPS. On average, equities analysts anticipate that Nutrien Ltd. will post 5.45 EPS for the current year.

Nutrien Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Tuesday, June 30th. Nutrien’s payout ratio is presently 44.81%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on NTR shares. Wall Street Zen cut Nutrien from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. BNP Paribas Exane cut Nutrien from an “outperform” rating to a “neutral” rating in a report on Monday, February 23rd. Zacks Research cut Nutrien from a “strong-buy” rating to a “hold” rating in a report on Monday, March 2nd. Raymond James Financial raised Nutrien from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $74.00 to $90.00 in a report on Tuesday, May 5th. Finally, Scotiabank boosted their price objective on Nutrien from $75.00 to $80.00 and gave the stock a “sector perform” rating in a report on Monday, May 11th. Eleven analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $81.71.

About Nutrien

Nutrien Ltd. is a global fertilizer and agricultural-services company headquartered in Saskatoon, Saskatchewan, Canada. The company is publicly traded and operates across the farm input value chain, combining upstream fertilizer production with a broad retail and services platform aimed at supporting crop production worldwide. Nutrien’s business model integrates the manufacture and distribution of crop nutrients with on-the-ground agronomic support for growers and agricultural businesses.

Nutrien produces and supplies the three primary fertilizer nutrients—potash, nitrogen and phosphate—through its wholesale operations, and markets a wide range of crop inputs including seeds and crop protection products.