Nutrien Ltd. (NYSE:NTR) Shares Sold by Addenda Capital Inc.

Addenda Capital Inc. lessened its position in shares of Nutrien Ltd. (NYSE:NTR) by 18.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 450,485 shares of the company’s stock after selling 101,519 shares during the period. Nutrien comprises 1.1% of Addenda Capital Inc.’s investment portfolio, making the stock its 26th biggest holding. Addenda Capital Inc. owned about 0.09% of Nutrien worth $22,934,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GoalVest Advisory LLC acquired a new position in shares of Nutrien in the 1st quarter valued at $35,000. Trust Co. of Vermont boosted its holdings in shares of Nutrien by 50.0% in the 2nd quarter. Trust Co. of Vermont now owns 900 shares of the company’s stock valued at $46,000 after buying an additional 300 shares in the last quarter. Evolution Advisers Inc. acquired a new position in shares of Nutrien in the 4th quarter valued at $49,000. Covestor Ltd boosted its holdings in shares of Nutrien by 33.3% in the 1st quarter. Covestor Ltd now owns 932 shares of the company’s stock valued at $50,000 after buying an additional 233 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Nutrien by 160.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,075 shares of the company’s stock valued at $57,000 after buying an additional 663 shares in the last quarter. Institutional investors and hedge funds own 63.10% of the company’s stock.

Analyst Ratings Changes

NTR has been the subject of several research analyst reports. Scotiabank lowered their target price on shares of Nutrien from $66.00 to $59.00 and set a “sector outperform” rating for the company in a report on Monday. Hsbc Global Res downgraded shares of Nutrien from a “hold” rating to a “moderate sell” rating in a research report on Friday, August 2nd. Mizuho reduced their price target on shares of Nutrien from $55.00 to $52.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. UBS Group reduced their price target on shares of Nutrien from $67.00 to $66.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. Finally, TD Securities reduced their price target on shares of Nutrien from $69.00 to $67.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. Three analysts have rated the stock with a sell rating, three have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $64.50.

Nutrien Price Performance

Shares of NTR traded down $0.61 during trading hours on Wednesday, reaching $45.89. The company had a trading volume of 1,773,700 shares, compared to its average volume of 1,945,592. The firm has a 50 day simple moving average of $50.51 and a 200-day simple moving average of $52.65. The company has a current ratio of 1.26, a quick ratio of 0.82 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $22.70 billion, a price-to-earnings ratio of 26.70, a PEG ratio of 1.52 and a beta of 0.83. Nutrien Ltd. has a 12-month low of $44.90 and a 12-month high of $65.69.

Nutrien (NYSE:NTR) last announced its quarterly 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. The business had revenue of $10.16 billion during the quarter, compared to the consensus estimate of $10.82 billion. Nutrien had a net margin of 2.97% and a return on equity of 6.91%. The business’s revenue was down 12.9% compared to the same quarter last year. During the same quarter last year, the firm posted $2.53 EPS. Research analysts expect that Nutrien Ltd. will post 3.78 earnings per share for the current year.

Nutrien Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Friday, September 27th will be issued 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 4.71%. Nutrien’s dividend payout ratio is presently 126.32%.

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.