Connor Clark & Lunn Investment Management Ltd. Boosts Stock Holdings in Nutrien Ltd. (NYSE:NTR)

Connor Clark & Lunn Investment Management Ltd. lifted its stake in Nutrien Ltd. (NYSE:NTR) by 34.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,287,220 shares of the company’s stock after buying an additional 327,799 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.26% of Nutrien worth $61,848,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of NTR. Central Pacific Bank Trust Division bought a new stake in Nutrien in the 3rd quarter worth $28,000. Family Firm Inc. purchased a new position in Nutrien during the 2nd quarter valued at about $32,000. Trust Co. of Vermont increased its holdings in Nutrien by 50.0% during the 2nd quarter. Trust Co. of Vermont now owns 900 shares of the company’s stock valued at $46,000 after purchasing an additional 300 shares during the period. Covestor Ltd raised its position in Nutrien by 33.3% during the 1st quarter. Covestor Ltd now owns 932 shares of the company’s stock valued at $50,000 after purchasing an additional 233 shares during the last quarter. Finally, Andra AP fonden purchased a new stake in Nutrien in the 2nd quarter worth approximately $51,000. Institutional investors own 63.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on NTR. Mizuho reduced their target price on Nutrien from $55.00 to $52.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. UBS Group downgraded shares of Nutrien from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $66.00 to $51.00 in a research report on Thursday, October 10th. Hsbc Global Res cut shares of Nutrien from a “hold” rating to a “moderate sell” rating in a research report on Friday, August 2nd. TD Securities reduced their price target on shares of Nutrien from $63.00 to $61.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Finally, The Goldman Sachs Group lowered shares of Nutrien from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $69.00 to $53.00 in a report on Tuesday, September 10th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $60.33.

Nutrien Stock Performance

Shares of NTR stock opened at $45.56 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.82 and a current ratio of 1.27. The company has a market capitalization of $22.50 billion, a price-to-earnings ratio of 30.58, a price-to-earnings-growth ratio of 1.61 and a beta of 0.82. Nutrien Ltd. has a one year low of $44.65 and a one year high of $60.87. The company’s 50-day moving average is $47.98 and its 200 day moving average is $50.28.

Nutrien (NYSE:NTR) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.04). The firm had revenue of $5.35 billion for the quarter, compared to the consensus estimate of $5.26 billion. Nutrien had a net margin of 2.79% and a return on equity of 6.99%. Nutrien’s revenue was down 5.0% on a year-over-year basis. During the same period last year, the business earned $0.35 EPS. Sell-side analysts expect that Nutrien Ltd. will post 3.59 EPS for the current fiscal year.

Nutrien Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Tuesday, December 31st will be given a $0.939 dividend. This is a positive change from Nutrien’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.76 dividend on an annualized basis and a yield of 8.24%. Nutrien’s payout ratio is 144.97%.

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.