Addenda Capital Inc. Purchases 5,221 Shares of Nutrien Ltd. (NYSE:NTR)

Addenda Capital Inc. increased its position in Nutrien Ltd. (NYSE:NTR) by 1.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 552,004 shares of the company’s stock after buying an additional 5,221 shares during the quarter. Nutrien accounts for approximately 1.4% of Addenda Capital Inc.’s investment portfolio, making the stock its 23rd largest position. Addenda Capital Inc. owned approximately 0.11% of Nutrien worth $29,979,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in NTR. Norges Bank acquired a new stake in shares of Nutrien during the fourth quarter worth $332,716,000. The Manufacturers Life Insurance Company grew its holdings in Nutrien by 51.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 6,853,165 shares of the company’s stock worth $425,881,000 after acquiring an additional 2,322,679 shares during the period. ARGA Investment Management LP raised its position in shares of Nutrien by 120.2% in the 1st quarter. ARGA Investment Management LP now owns 3,780,881 shares of the company’s stock worth $205,421,000 after acquiring an additional 2,063,881 shares in the last quarter. TD Asset Management Inc lifted its stake in shares of Nutrien by 28.6% in the 4th quarter. TD Asset Management Inc now owns 9,226,352 shares of the company’s stock valued at $522,309,000 after purchasing an additional 2,050,358 shares during the period. Finally, Parnassus Investments LLC boosted its position in shares of Nutrien by 19.5% during the 4th quarter. Parnassus Investments LLC now owns 12,017,181 shares of the company’s stock valued at $676,928,000 after purchasing an additional 1,960,162 shares in the last quarter. Institutional investors own 63.10% of the company’s stock.

Nutrien Price Performance

NYSE:NTR traded down $1.08 during trading hours on Friday, hitting $50.89. The stock had a trading volume of 2,118,399 shares, compared to its average volume of 1,872,542. The firm has a market capitalization of $25.17 billion, a price-to-earnings ratio of 29.76, a P/E/G ratio of 1.70 and a beta of 0.87. Nutrien Ltd. has a one year low of $47.90 and a one year high of $69.12. The company has a 50 day simple moving average of $54.89 and a two-hundred day simple moving average of $53.72. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.15 and a quick ratio of 0.53.

Nutrien (NYSE:NTR) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.11. Nutrien had a return on equity of 7.31% and a net margin of 3.01%. The company had revenue of $5.39 billion during the quarter, compared to analyst estimates of $5.38 billion. Research analysts forecast that Nutrien Ltd. will post 3.84 earnings per share for the current fiscal year.

Nutrien Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 19th. Stockholders of record on Friday, June 28th will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 4.24%. Nutrien’s dividend payout ratio (DPR) is presently 126.32%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NTR. Mizuho increased their price target on Nutrien from $54.00 to $56.00 and gave the stock an “underweight” rating in a report on Friday, May 17th. Scotiabank reduced their price target on shares of Nutrien from $67.00 to $66.00 and set an “outperform” rating for the company in a report on Monday, May 13th. Piper Sandler decreased their price target on shares of Nutrien from $56.00 to $55.00 and set an “underweight” rating for the company in a research note on Tuesday, June 11th. Berenberg Bank raised shares of Nutrien from a “hold” rating to a “buy” rating and increased their price objective for the stock from $60.00 to $66.00 in a research report on Monday, April 29th. Finally, Wolfe Research began coverage on Nutrien in a research note on Friday, March 1st. They issued an “outperform” rating and a $66.00 target price for the company. Three research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $66.28.

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.