Bleakley Financial Group LLC Decreases Stock Holdings in Nutrien Ltd. (NYSE:NTR)

Bleakley Financial Group LLC reduced its stake in shares of Nutrien Ltd. (NYSE:NTR) by 77.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,921 shares of the company’s stock after selling 54,203 shares during the quarter. Bleakley Financial Group LLC’s holdings in Nutrien were worth $765,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in NTR. Silchester International Investors LLP increased its position in Nutrien by 211.6% during the 2nd quarter. Silchester International Investors LLP now owns 4,041,167 shares of the company’s stock valued at $205,736,000 after buying an additional 2,744,213 shares in the last quarter. ARGA Investment Management LP increased its position in Nutrien by 120.2% during the 1st quarter. ARGA Investment Management LP now owns 3,780,881 shares of the company’s stock valued at $205,421,000 after buying an additional 2,063,881 shares in the last quarter. Bank of Montreal Can increased its position in Nutrien by 15.5% during the 2nd quarter. Bank of Montreal Can now owns 13,354,385 shares of the company’s stock valued at $719,668,000 after buying an additional 1,794,333 shares in the last quarter. National Bank of Canada FI increased its position in Nutrien by 34.0% during the 2nd quarter. National Bank of Canada FI now owns 4,066,629 shares of the company’s stock valued at $205,385,000 after buying an additional 1,032,763 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its position in Nutrien by 10.6% during 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 buying an additional 844,559 shares in the last quarter. 63.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NTR has been the topic of several recent analyst reports. The Goldman Sachs Group lowered Nutrien from a “buy” rating to a “neutral” rating and reduced their target price for the company from $69.00 to $53.00 in a research report on Tuesday, September 10th. Mizuho cut their price objective on Nutrien from $55.00 to $52.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Wells Fargo & Company lowered Nutrien from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $62.00 to $50.00 in a report on Tuesday, September 24th. Barclays cut their price objective on Nutrien from $68.00 to $55.00 and set an “overweight” rating on the stock in a report on Friday, August 16th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $60.00 price objective on shares of Nutrien in a report on Friday, September 20th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $60.67.

Nutrien Stock Down 0.8 %

Nutrien stock opened at $47.31 on Tuesday. The firm has a market cap of $23.40 billion, a price-to-earnings ratio of 27.67, a price-to-earnings-growth ratio of 1.62 and a beta of 0.82. The business’s 50-day moving average price is $47.67 and its 200 day moving average price is $51.08. The company has a quick ratio of 0.82, a current ratio of 1.26 and a debt-to-equity ratio of 0.37. Nutrien Ltd. has a 52 week low of $44.65 and a 52 week high of $60.87.

Nutrien (NYSE:NTR) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $2.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.19 by $0.15. The company had revenue of $10.16 billion for the quarter, compared to the consensus estimate of $10.82 billion. Nutrien had a return on equity of 6.91% and a net margin of 2.97%. Nutrien’s revenue for the quarter was down 12.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.53 earnings per share. As a group, sell-side analysts anticipate that Nutrien Ltd. will post 3.75 earnings per share for the current year.

Nutrien Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Friday, September 27th were given a dividend of $0.54 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a yield of 4.57%. Nutrien’s dividend payout ratio is currently 126.32%.

Nutrien 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.