CORDA Investment Management LLC. Lowers Stock Holdings in Nutrien Ltd. $NTR

CORDA Investment Management LLC. trimmed its position in shares of Nutrien Ltd. (NYSE:NTR) by 1.7% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 536,435 shares of the company’s stock after selling 9,179 shares during the quarter. Nutrien accounts for about 2.8% of CORDA Investment Management LLC.’s holdings, making the stock its 15th largest holding. CORDA Investment Management LLC.’s holdings in Nutrien were worth $40,479,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. Swiss Life Asset Management Ltd grew its holdings in shares of Nutrien by 23.6% during the 3rd quarter. Swiss Life Asset Management Ltd now owns 79,770 shares of the company’s stock valued at $4,691,000 after purchasing an additional 15,230 shares during the last quarter. MH & Associates Securities Management Corp ADV bought a new stake in Nutrien in the fourth quarter worth $1,967,000. Hudson Bay Capital Management LP lifted its stake in Nutrien by 190.3% in the third quarter. Hudson Bay Capital Management LP now owns 116,312 shares of the company’s stock worth $6,829,000 after purchasing an additional 76,244 shares during the last quarter. TD Waterhouse Canada Inc. boosted its position in Nutrien by 4.2% during the fourth quarter. TD Waterhouse Canada Inc. now owns 2,359,022 shares of the company’s stock valued at $145,257,000 after buying an additional 94,510 shares during the period. Finally, KKM Financial LLC boosted its position in Nutrien by 28.2% during the third quarter. KKM Financial LLC now owns 77,106 shares of the company’s stock valued at $4,527,000 after buying an additional 16,977 shares during the period. Institutional investors own 63.10% of the company’s stock.

Nutrien Trading Up 0.0%

Shares of NYSE NTR opened at $65.45 on Monday. The stock has a market cap of $31.37 billion, a P/E ratio of 13.33, a price-to-earnings-growth ratio of 0.63 and a beta of 0.62. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.24 and a quick ratio of 0.59. Nutrien Ltd. has a 1 year low of $53.03 and a 1 year high of $85.36. The firm has a 50-day moving average of $67.39 and a 200 day moving average of $69.74.

Nutrien (NYSE:NTR) last released its earnings results on Wednesday, May 6th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.03. Nutrien had a net margin of 8.58% and a return on equity of 8.84%. The firm had revenue of $6.05 billion during the quarter, compared to analyst estimates of $5.30 billion. During the same period last year, the business earned $0.11 earnings per share. The business’s revenue was up 18.5% on a year-over-year basis. As a group, sell-side analysts expect that Nutrien Ltd. will post 5.19 EPS for the current fiscal year.

Nutrien Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Tuesday, June 30th will be paid a $0.55 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.4%. Nutrien’s payout ratio is currently 44.81%.

Analyst Ratings Changes

NTR has been the topic of several analyst reports. Wall Street Zen downgraded Nutrien from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Scotiabank upgraded Nutrien from a “sector perform” rating to a “sector outperform” rating and set a $80.00 target price for the company in a report on Tuesday, June 30th. Berenberg Bank set a $65.00 price target on Nutrien and gave the stock a “hold” rating in a research report on Wednesday, June 10th. Oppenheimer lifted their price target on Nutrien from $80.00 to $82.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 12th. Finally, Morgan Stanley lowered their price objective on Nutrien from $93.00 to $81.00 and set an “overweight” rating for the company in a research report on Tuesday, July 7th. Thirteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Nutrien currently has an average rating of “Moderate Buy” and an average target price of $80.94.

Nutrien Profile

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.