Intact Investment Management Inc. Has $38.64 Million Stock Position in Nutrien Ltd. (NYSE:NTR)

Intact Investment Management Inc. decreased its stake in Nutrien Ltd. (NYSE:NTR) by 6.3% during the 4th quarter, HoldingsChannel reports. The fund owned 863,678 shares of the company’s stock after selling 58,320 shares during the period. Nutrien comprises approximately 1.3% of Intact Investment Management Inc.’s portfolio, making the stock its 19th biggest holding. Intact Investment Management Inc.’s holdings in Nutrien were worth $38,641,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Alpine Woods Capital Investors LLC grew its stake in shares of Nutrien by 15.7% in the fourth quarter. Alpine Woods Capital Investors LLC now owns 10,880 shares of the company’s stock worth $487,000 after acquiring an additional 1,480 shares during the last quarter. Blume Capital Management Inc. grew its stake in shares of Nutrien by 70.0% in the fourth quarter. Blume Capital Management Inc. now owns 31,576 shares of the company’s stock worth $1,413,000 after acquiring an additional 13,005 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Nutrien by 26.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 134,758 shares of the company’s stock worth $6,030,000 after acquiring an additional 28,315 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its stake in shares of Nutrien by 12.3% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 69,624 shares of the company’s stock worth $3,076,000 after acquiring an additional 7,600 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd grew its stake in shares of Nutrien by 11.0% in the fourth quarter. ANTIPODES PARTNERS Ltd now owns 1,027,292 shares of the company’s stock worth $45,975,000 after acquiring an additional 101,515 shares during the last quarter. Institutional investors and hedge funds own 63.10% of the company’s stock.

Nutrien Stock Performance

Nutrien stock opened at $50.10 on Friday. The stock has a 50-day simple moving average of $51.18 and a 200 day simple moving average of $48.66. The company has a quick ratio of 0.82, a current ratio of 1.27 and a debt-to-equity ratio of 0.38. Nutrien Ltd. has a 12-month low of $43.70 and a 12-month high of $60.87. The stock has a market capitalization of $24.51 billion, a price-to-earnings ratio of 36.57, a P/E/G ratio of 1.19 and a beta of 0.81.

Nutrien (NYSE:NTR) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.09). Nutrien had a net margin of 2.62% and a return on equity of 6.81%. The business had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $5.09 billion. On average, research analysts anticipate that Nutrien Ltd. will post 3.72 earnings per share for the current fiscal year.

Nutrien Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Monday, March 31st will be issued a $0.545 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.18 dividend on an annualized basis and a dividend yield of 4.35%. Nutrien’s dividend payout ratio is 159.12%.

Analyst Ratings Changes

Several research analysts recently commented on the company. UBS Group raised their target price on Nutrien from $53.00 to $54.00 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $60.00 target price on shares of Nutrien in a research report on Monday, February 24th. JPMorgan Chase & Co. raised Nutrien from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $40.00 to $50.00 in a research report on Monday, January 13th. Scotiabank raised their target price on Nutrien from $60.00 to $62.00 and gave the stock a “sector outperform” rating in a research report on Monday, February 24th. Finally, Piper Sandler raised their target price on Nutrien from $58.00 to $63.00 and gave the stock an “overweight” rating in a research report on Monday, January 27th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $60.13.

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.