Nutrien Ltd. (NYSE:NTR) Stake Lessened by Bedell Frazier Investment Counselling LLC

Bedell Frazier Investment Counselling LLC cut its stake in Nutrien Ltd. (NYSE:NTR) by 2.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 124,028 shares of the company’s stock after selling 2,751 shares during the period. Nutrien makes up approximately 1.4% of Bedell Frazier Investment Counselling LLC’s investment portfolio, making the stock its 24th biggest position. Bedell Frazier Investment Counselling LLC’s holdings in Nutrien were worth $5,961,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Lester Murray Antman dba SimplyRich lifted its stake in Nutrien by 2.3% during the second quarter. Lester Murray Antman dba SimplyRich now owns 9,069 shares of the company’s stock valued at $461,000 after purchasing an additional 202 shares during the last quarter. FFT Wealth Management LLC lifted its stake in Nutrien by 0.8% during the second quarter. FFT Wealth Management LLC now owns 29,220 shares of the company’s stock valued at $1,488,000 after purchasing an additional 220 shares during the last quarter. MONECO Advisors LLC lifted its stake in Nutrien by 2.4% during the second quarter. MONECO Advisors LLC now owns 9,791 shares of the company’s stock valued at $498,000 after purchasing an additional 233 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Nutrien by 6.5% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 4,309 shares of the company’s stock valued at $207,000 after purchasing an additional 263 shares during the last quarter. Finally, Royal London Asset Management Ltd. lifted its stake in Nutrien by 1.1% during the second quarter. Royal London Asset Management Ltd. now owns 23,995 shares of the company’s stock valued at $1,222,000 after purchasing an additional 265 shares during the last quarter. 63.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on NTR shares. UBS Group downgraded shares of Nutrien from a “buy” rating to a “neutral” rating and reduced their price target for the company from $66.00 to $51.00 in a research report on Thursday, October 10th. Scotiabank dropped their price objective on shares of Nutrien from $66.00 to $59.00 and set a “sector outperform” rating on the stock in a research note on Monday, August 12th. The Goldman Sachs Group lowered shares of Nutrien from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $69.00 to $53.00 in a research note on Tuesday, September 10th. TD Securities dropped their price target on shares of Nutrien from $63.00 to $61.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Finally, Mizuho dropped their price target on shares of Nutrien from $55.00 to $52.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $60.33.

Nutrien Price Performance

NYSE:NTR opened at $46.93 on Monday. 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 $23.18 billion, a price-to-earnings ratio of 31.50, a PEG ratio of 1.65 and a beta of 0.82. Nutrien Ltd. has a 52 week low of $44.65 and a 52 week high of $60.87. The company has a 50-day moving average of $48.01 and a 200-day moving average of $50.11.

Nutrien (NYSE:NTR) last posted its quarterly earnings data 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 company had revenue of $5.35 billion during the quarter, compared to analyst estimates of $5.26 billion. Nutrien had a net margin of 2.79% and a return on equity of 6.99%. The company’s revenue was down 5.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.35 EPS. As a group, equities research analysts anticipate that Nutrien Ltd. will post 3.56 earnings per share for the current fiscal year.

Nutrien Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.939 per share. This is a positive change from Nutrien’s previous quarterly dividend of $0.54. The ex-dividend date is Tuesday, December 31st. This represents a $3.76 annualized dividend and a yield of 8.00%. Nutrien’s dividend payout ratio (DPR) is presently 144.97%.

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.