Connor Clark & Lunn Investment Management Ltd. Sells 344,033 Shares of Nutrien Ltd. (NYSE:NTR)

Connor Clark & Lunn Investment Management Ltd. trimmed its stake in Nutrien Ltd. (NYSE:NTR) by 26.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 943,187 shares of the company’s stock after selling 344,033 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.19% of Nutrien worth $42,149,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Fairway Wealth LLC bought a new stake in shares of Nutrien in the 4th quarter valued at approximately $27,000. HHM Wealth Advisors LLC lifted its stake in shares of Nutrien by 331.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 625 shares of the company’s stock valued at $28,000 after purchasing an additional 480 shares during the last quarter. Assetmark Inc. lifted its stake in shares of Nutrien by 1,437.5% in the 4th quarter. Assetmark Inc. now owns 738 shares of the company’s stock valued at $33,000 after purchasing an additional 690 shares during the last quarter. Asset Planning Inc bought a new stake in shares of Nutrien in the 4th quarter valued at approximately $35,000. Finally, Exchange Traded Concepts LLC lifted its stake in shares of Nutrien by 96.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 846 shares of the company’s stock valued at $38,000 after purchasing an additional 416 shares during the last quarter. 63.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on NTR shares. UBS Group raised their price target on Nutrien from $53.00 to $54.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Raymond James raised Nutrien from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $58.00 to $60.00 in a research note on Tuesday, December 3rd. Oppenheimer started coverage on Nutrien in a research note on Thursday, December 12th. They set an “outperform” rating and a $60.00 price target for the company. JPMorgan Chase & Co. raised Nutrien from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $40.00 to $50.00 in a research note on Monday, January 13th. Finally, Scotiabank raised their price target on Nutrien from $60.00 to $62.00 and gave the stock a “sector outperform” rating in a research note on Monday, February 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $60.13.

Nutrien Trading Down 0.8 %

Shares of NYSE:NTR opened at $50.75 on Thursday. Nutrien Ltd. has a 12-month low of $43.70 and a 12-month high of $60.87. The business’s fifty day simple moving average is $51.08 and its 200-day simple moving average is $48.65. The company has a market capitalization of $24.83 billion, a PE ratio of 37.04, a P/E/G ratio of 1.19 and a beta of 0.81. The company has a current ratio of 1.27, a quick ratio of 0.82 and a debt-to-equity ratio of 0.38.

Nutrien (NYSE:NTR) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.09). Nutrien had a net margin of 2.62% and a return on equity of 6.81%. The company had revenue of $5.08 billion during the quarter, compared to analysts’ expectations of $5.09 billion. As a group, equities research analysts predict that Nutrien Ltd. will post 3.72 earnings per share for the current fiscal year.

Nutrien Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Monday, March 31st will be issued a $0.545 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.18 dividend on an annualized basis and a dividend yield of 4.30%. Nutrien’s dividend payout ratio is presently 159.12%.

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.