Bank of Nova Scotia Trust Co. Sells 3,033 Shares of Nutrien Ltd. (NYSE:NTR)

Bank of Nova Scotia Trust Co. lowered its position in Nutrien Ltd. (NYSE:NTR) by 1.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 207,687 shares of the company’s stock after selling 3,033 shares during the period. Nutrien comprises 1.3% of Bank of Nova Scotia Trust Co.’s holdings, making the stock its 29th largest position. Bank of Nova Scotia Trust Co.’s holdings in Nutrien were worth $11,699,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in NTR. International Assets Investment Management LLC acquired a new stake in shares of Nutrien during the fourth quarter worth about $3,433,000. First Eagle Investment Management LLC boosted its holdings in shares of Nutrien by 0.5% in the third quarter. First Eagle Investment Management LLC now owns 9,262,659 shares of the company’s stock valued at $572,062,000 after buying an additional 48,230 shares during the period. Deutsche Bank AG increased its position in shares of Nutrien by 1.5% during the third quarter. Deutsche Bank AG now owns 14,708,135 shares of the company’s stock worth $908,374,000 after acquiring an additional 214,299 shares in the last quarter. Parnassus Investments LLC increased its position in shares of Nutrien by 1.3% during the third quarter. Parnassus Investments LLC now owns 10,057,019 shares of the company’s stock worth $621,121,000 after acquiring an additional 131,418 shares in the last quarter. Finally, Glenorchy Capital Ltd bought a new stake in Nutrien in the 4th quarter valued at $1,702,000. Institutional investors and hedge funds own 63.10% of the company’s stock.

Nutrien Stock Performance

Shares of NYSE NTR traded up $1.31 during midday trading on Friday, hitting $58.62. 1,427,616 shares of the company’s stock were exchanged, compared to its average volume of 1,902,314. The company has a quick ratio of 0.53, a current ratio of 1.15 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $28.99 billion, a PE ratio of 34.28, a price-to-earnings-growth ratio of 1.83 and a beta of 0.88. Nutrien Ltd. has a 12 month low of $47.90 and a 12 month high of $69.12. The company’s 50 day moving average price is $55.32 and its 200 day moving average price is $54.05.

Nutrien (NYSE:NTR) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.11. Nutrien had a net margin of 3.01% and a return on equity of 7.31%. The firm had revenue of $5.39 billion during the quarter, compared to analysts’ expectations of $5.38 billion. As a group, analysts predict that Nutrien Ltd. will post 3.9 earnings per share for the current fiscal year.

Nutrien Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 19th. Shareholders of record on Friday, June 28th will be issued a $0.54 dividend. The ex-dividend date is Friday, June 28th. This represents a $2.16 annualized dividend and a yield of 3.68%. Nutrien’s dividend payout ratio is currently 126.32%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on NTR shares. The Goldman Sachs Group dropped their price target on Nutrien from $88.00 to $78.00 and set a “buy” rating on the stock in a research note on Thursday, February 1st. Wolfe Research assumed coverage on Nutrien in a research note on Friday, March 1st. They issued an “outperform” rating and a $66.00 target price on the stock. HSBC decreased their price target on shares of Nutrien from $63.00 to $57.00 and set a “hold” rating for the company in a research note on Friday, March 8th. Berenberg Bank raised shares of Nutrien from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $60.00 to $66.00 in a research report on Monday, April 29th. Finally, Piper Sandler increased their target price on shares of Nutrien from $54.00 to $56.00 and gave the stock an “underweight” rating in a report on Friday, May 17th. 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $67.32.

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.