CIBC Asset Management Inc Sells 2,275,627 Shares of Nutrien Ltd. (NYSE:NTR)

CIBC Asset Management Inc reduced its position in Nutrien Ltd. (NYSE:NTR) by 38.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 3,579,170 shares of the company’s stock after selling 2,275,627 shares during the quarter. CIBC Asset Management Inc’s holdings in Nutrien were worth $172,375,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Silchester International Investors LLP raised its holdings in shares of Nutrien by 164.4% during the 3rd quarter. Silchester International Investors LLP now owns 10,683,242 shares of the company’s stock worth $513,437,000 after buying an additional 6,642,075 shares in the last quarter. Bank of Montreal Can raised its stake in Nutrien by 15.5% during the second quarter. Bank of Montreal Can now owns 13,354,385 shares of the company’s stock worth $719,668,000 after acquiring an additional 1,794,333 shares in the last quarter. National Bank of Canada FI lifted its holdings in shares of Nutrien by 34.0% in the second quarter. National Bank of Canada FI now owns 4,066,629 shares of the company’s stock worth $205,385,000 after acquiring an additional 1,032,763 shares during the last quarter. 1832 Asset Management L.P. boosted its stake in shares of Nutrien by 10.6% in the 1st quarter. 1832 Asset Management L.P. now owns 8,839,216 shares of the company’s stock valued at $480,058,000 after purchasing an additional 844,559 shares in the last quarter. Finally, Public Sector Pension Investment Board acquired a new stake in shares of Nutrien in the 2nd quarter valued at approximately $38,176,000. 63.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Scotiabank dropped their price objective 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. Royal Bank of Canada reissued an “outperform” rating and set a $60.00 price objective on shares of Nutrien in a report on Friday, September 20th. Barclays lowered their target price on Nutrien from $68.00 to $55.00 and set an “overweight” rating for the company in a report on Friday, August 16th. UBS Group lowered Nutrien from a “buy” rating to a “neutral” rating and cut their price target for the company from $66.00 to $51.00 in a research note on Thursday, October 10th. Finally, HSBC cut Nutrien from a “hold” rating to a “reduce” rating in a report on Friday, August 2nd. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $60.33.

Nutrien Stock Down 0.9 %

Shares of Nutrien stock opened at $46.37 on Friday. The stock’s 50-day moving average is $47.99 and its 200 day moving average is $50.50. Nutrien Ltd. has a one year low of $44.65 and a one year high of $60.87. The firm has a market cap of $22.90 billion, a price-to-earnings ratio of 31.12, a PEG ratio of 1.60 and a beta of 0.82. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.27 and a quick ratio of 0.82.

Nutrien (NYSE:NTR) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.04). The business had revenue of $5.35 billion for the quarter, compared to the consensus estimate of $5.26 billion. Nutrien had a return on equity of 6.99% and a net margin of 2.79%. Nutrien’s quarterly revenue was down 5.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.35 earnings per share. Equities research analysts anticipate that Nutrien Ltd. will post 3.65 EPS for the current year.

Nutrien Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Tuesday, December 31st will be paid a $0.939 dividend. This is an increase from Nutrien’s previous quarterly dividend of $0.54. This represents a $3.76 annualized dividend and a yield of 8.10%. The ex-dividend date is Tuesday, December 31st. Nutrien’s payout ratio is 144.97%.

Nutrien Company Profile

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.