Fmr LLC Sells 587,890 Shares of Nutrien Ltd. (NYSE:NTR)

Fmr LLC cut its stake in shares of Nutrien Ltd. (NYSE:NTR) by 5.5% during the third quarter, HoldingsChannel reports. The firm owned 10,059,373 shares of the company’s stock after selling 587,890 shares during the quarter. Fmr LLC’s holdings in Nutrien were worth $483,415,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Horizon Kinetics Asset Management LLC raised its holdings in Nutrien by 2.8% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 317,633 shares of the company’s stock valued at $15,265,000 after buying an additional 8,531 shares during the period. Mirabella Financial Services LLP raised its stake in shares of Nutrien by 125.7% in the third quarter. Mirabella Financial Services LLP now owns 18,238 shares of the company’s stock valued at $877,000 after acquiring an additional 10,159 shares during the period. Daiwa Securities Group Inc. lifted its holdings in shares of Nutrien by 20.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 2,213 shares of the company’s stock worth $106,000 after acquiring an additional 381 shares during the last quarter. Larson Financial Group LLC boosted its stake in shares of Nutrien by 1,370.6% during the 3rd quarter. Larson Financial Group LLC now owns 1,603 shares of the company’s stock worth $77,000 after purchasing an additional 1,494 shares during the period. Finally, KKM Financial LLC grew its holdings in Nutrien by 5.6% during the 3rd quarter. KKM Financial LLC now owns 38,297 shares of the company’s stock valued at $1,841,000 after purchasing an additional 2,045 shares during the last quarter. 63.10% of the stock is owned by institutional investors.

Nutrien Stock Performance

Shares of NTR stock opened at $46.69 on Friday. The company’s 50 day moving average is $47.93 and its 200 day moving average is $49.82. The company has a quick ratio of 0.82, a current ratio of 1.27 and a debt-to-equity ratio of 0.38. The firm has a market cap of $23.06 billion, a price-to-earnings ratio of 31.34, a PEG ratio of 1.62 and a beta of 0.82. Nutrien Ltd. has a 52-week low of $44.65 and a 52-week high of $60.87.

Nutrien (NYSE:NTR) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.04). Nutrien had a return on equity of 6.99% and a net margin of 2.79%. The company had revenue of $5.35 billion during the quarter, compared to the consensus estimate of $5.26 billion. During the same period in the previous year, the firm posted $0.35 earnings per share. The company’s revenue was down 5.0% on a year-over-year basis. On average, sell-side analysts anticipate that Nutrien Ltd. will post 3.56 EPS for the current fiscal year.

Nutrien Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st will be issued a $0.939 dividend. This is a boost from Nutrien’s previous quarterly dividend of $0.54. This represents a $3.76 dividend on an annualized basis and a dividend yield of 8.04%. The ex-dividend date is Tuesday, December 31st. Nutrien’s dividend payout ratio (DPR) is currently 144.97%.

Wall Street Analyst Weigh In

NTR has been the subject of several analyst reports. The Goldman Sachs Group downgraded shares of Nutrien from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $69.00 to $53.00 in a research note on Tuesday, September 10th. Mizuho dropped their price objective on Nutrien from $55.00 to $52.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. HSBC downgraded Nutrien from a “hold” rating to a “reduce” rating in a research report on Friday, August 2nd. Scotiabank lowered their target price on shares of Nutrien from $66.00 to $59.00 and set a “sector outperform” rating for the company in a research note on Monday, August 12th. Finally, Wells Fargo & Company cut shares of Nutrien from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $62.00 to $50.00 in a report on Tuesday, September 24th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $60.33.

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.