Bank of New York Mellon Corp Sells 382,097 Shares of Nutrien Ltd. (NYSE:NTR)

Bank of New York Mellon Corp lessened its holdings in Nutrien Ltd. (NYSE:NTR) by 44.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 468,272 shares of the company’s stock after selling 382,097 shares during the quarter. Bank of New York Mellon Corp owned 0.09% of Nutrien worth $23,840,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Raymond James Trust N.A. increased its holdings in Nutrien by 1.1% in the 2nd quarter. Raymond James Trust N.A. now owns 28,622 shares of the company’s stock valued at $1,457,000 after buying an additional 303 shares during the period. Family Firm Inc. bought a new stake in Nutrien in the 2nd quarter valued at $32,000. Van Lanschot Kempen Investment Management N.V. increased its holdings in Nutrien by 301.0% in the 2nd quarter. Van Lanschot Kempen Investment Management N.V. now owns 272,669 shares of the company’s stock valued at $13,882,000 after buying an additional 204,664 shares during the period. Silchester International Investors LLP grew its holdings in shares of Nutrien by 211.6% in the 2nd quarter. Silchester International Investors LLP now owns 4,041,167 shares of the company’s stock worth $205,736,000 after purchasing an additional 2,744,213 shares during the last quarter. Finally, MONECO Advisors LLC grew its holdings in shares of Nutrien by 2.4% in the 2nd quarter. MONECO Advisors LLC now owns 9,791 shares of the company’s stock worth $498,000 after purchasing an additional 233 shares during the last quarter. Institutional investors own 63.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NTR. UBS Group lowered their target price on shares of Nutrien from $67.00 to $66.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. BMO Capital Markets lowered their target price on shares of Nutrien from $80.00 to $75.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Barclays lowered their target price on shares of Nutrien from $68.00 to $55.00 and set an “overweight” rating on the stock in a report on Friday, August 16th. TD Securities lowered their target price on shares of Nutrien from $69.00 to $67.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Finally, Wells Fargo & Company lowered their target price on shares of Nutrien from $68.00 to $66.00 and set an “overweight” rating on the stock in a report on Tuesday, July 16th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.78.

Nutrien Stock Performance

Nutrien stock opened at $46.98 on Thursday. The company has a current ratio of 1.26, a quick ratio of 0.82 and a debt-to-equity ratio of 0.37. Nutrien Ltd. has a 1 year low of $44.90 and a 1 year high of $65.69. The company has a market cap of $23.24 billion, a PE ratio of 27.47, a PEG ratio of 1.61 and a beta of 0.82. The company’s 50-day moving average is $48.84 and its two-hundred day moving average is $52.33.

Nutrien (NYSE:NTR) last released its earnings results on Wednesday, August 7th. The company reported $2.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.19 by $0.15. Nutrien had a net margin of 2.97% and a return on equity of 6.91%. The company had revenue of $10.16 billion for the quarter, compared to the consensus estimate of $10.82 billion. During the same period in the prior year, the company posted $2.53 EPS. The company’s revenue was down 12.9% compared to the same quarter last year. Equities analysts anticipate that Nutrien Ltd. will post 3.77 earnings per share for the current year.

Nutrien Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Friday, September 27th will be given a $0.54 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 4.60%. Nutrien’s dividend payout ratio is 126.32%.

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.