Desjardins Global Asset Management Inc. Has $47,000 Stock Position in Nutrien Ltd. (NYSE:NTR)

Desjardins Global Asset Management Inc. decreased its stake in shares of Nutrien Ltd. (NYSE:NTR) by 50.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 834 shares of the company’s stock after selling 864 shares during the quarter. Desjardins Global Asset Management Inc.’s holdings in Nutrien were worth $47,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in NTR. GHP Investment Advisors Inc. acquired a new position in shares of Nutrien during the 3rd quarter worth approximately $27,000. Legacy Financial Group LLC acquired a new position in shares of Nutrien during the 3rd quarter worth approximately $28,000. Covestor Ltd acquired a new position in shares of Nutrien during the 1st quarter worth approximately $30,000. Zions Bancorporation N.A. increased its holdings in shares of Nutrien by 55.2% during the 1st quarter. Zions Bancorporation N.A. now owns 301 shares of the company’s stock worth $31,000 after acquiring an additional 107 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its holdings in shares of Nutrien by 904.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 753 shares of the company’s stock worth $42,000 after acquiring an additional 678 shares during the last quarter. Institutional investors and hedge funds own 63.10% of the company’s stock.

Nutrien Price Performance

Shares of NTR stock opened at $52.78 on Friday. The company has a quick ratio of 0.65, a current ratio of 1.17 and a debt-to-equity ratio of 0.35. Nutrien Ltd. has a twelve month low of $47.90 and a twelve month high of $72.96. The company has a market cap of $26.10 billion, a P/E ratio of 20.86, a P/E/G ratio of 1.97 and a beta of 0.89. The business has a fifty day simple moving average of $52.99 and a 200 day simple moving average of $54.31.

Nutrien (NYSE:NTR) last announced its quarterly earnings data on Wednesday, February 21st. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.35). Nutrien had a return on equity of 8.59% and a net margin of 4.33%. The business had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.36 billion. During the same quarter in the prior year, the company earned $2.02 earnings per share. Nutrien’s quarterly revenue was down 24.8% compared to the same quarter last year. On average, sell-side analysts forecast that Nutrien Ltd. will post 3.82 EPS for the current fiscal year.

Nutrien Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 28th were given a dividend of $0.54 per share. This is an increase from Nutrien’s previous quarterly dividend of $0.53. This represents a $2.16 annualized dividend and a dividend yield of 4.09%. The ex-dividend date was Wednesday, March 27th. Nutrien’s dividend payout ratio is currently 85.38%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. TD Securities decreased their target price on Nutrien from $75.00 to $67.00 and set a “buy” rating on the stock in a report on Tuesday, February 20th. The Goldman Sachs Group decreased their target price on Nutrien from $88.00 to $78.00 and set a “buy” rating on the stock in a report on Thursday, February 1st. Royal Bank of Canada decreased their target price on Nutrien from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Friday, February 23rd. JPMorgan Chase & Co. downgraded Nutrien from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $58.00 to $48.00 in a research note on Friday, February 23rd. Finally, Piper Sandler downgraded Nutrien from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $68.00 to $54.00 in a research note on Thursday, February 29th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Nutrien currently has an average rating of “Hold” and a consensus price target of $67.95.

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.