Addenda Capital Inc. Purchases 35,926 Shares of Nutrien Ltd. (NYSE:NTR)

Addenda Capital Inc. increased its position in Nutrien Ltd. (NYSE:NTR) by 7.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 510,088 shares of the company’s stock after buying an additional 35,926 shares during the quarter. Nutrien accounts for 1.0% of Addenda Capital Inc.’s portfolio, making the stock its 28th largest position. Addenda Capital Inc.’s holdings in Nutrien were worth $22,826,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mercer Global Advisors Inc. ADV lifted its stake in Nutrien by 8.3% in the second quarter. Mercer Global Advisors Inc. ADV now owns 4,660 shares of the company’s stock worth $237,000 after purchasing an additional 356 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in Nutrien by 37.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 13,427 shares of the company’s stock valued at $679,000 after acquiring an additional 3,645 shares during the period. Seven Eight Capital LP grew its position in Nutrien by 54.0% during the 2nd quarter. Seven Eight Capital LP now owns 7,791 shares of the company’s stock worth $397,000 after acquiring an additional 2,733 shares during the last quarter. Ensign Peak Advisors Inc grew its position in Nutrien by 2.2% during the 2nd quarter. Ensign Peak Advisors Inc now owns 37,839 shares of the company’s stock worth $1,996,000 after acquiring an additional 800 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Nutrien by 56.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,680 shares of the company’s stock worth $86,000 after purchasing an additional 605 shares during the period. Hedge funds and other institutional investors own 63.10% of the company’s stock.

Nutrien Trading Up 0.2 %

Shares of NTR stock opened at $51.59 on Tuesday. The company has a current ratio of 1.27, a quick ratio of 0.82 and a debt-to-equity ratio of 0.38. Nutrien Ltd. has a 12-month low of $43.69 and a 12-month high of $60.87. The stock has a market capitalization of $25.33 billion, a P/E ratio of 34.62, a P/E/G ratio of 1.15 and a beta of 0.81. The firm’s 50 day moving average is $47.07 and its 200 day moving average is $47.88.

Nutrien (NYSE:NTR) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.04). Nutrien had a return on equity of 6.99% and a net margin of 2.79%. The firm had revenue of $5.35 billion during the quarter, compared to analysts’ expectations of $5.26 billion. During the same quarter last year, the business earned $0.35 earnings per share. The business’s quarterly revenue was down 5.0% on a year-over-year basis. Research analysts expect that Nutrien Ltd. will post 3.5 earnings per share for the current year.

Nutrien Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.939 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $3.76 annualized dividend and a dividend yield of 7.28%. This is a positive change from Nutrien’s previous quarterly dividend of $0.54. Nutrien’s dividend payout ratio is presently 144.97%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NTR. UBS Group cut shares of Nutrien from a “buy” rating to a “neutral” rating and cut their target price for the stock from $66.00 to $51.00 in a report on Thursday, October 10th. JPMorgan Chase & Co. raised shares of 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. Wells Fargo & Company cut Nutrien from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $62.00 to $50.00 in a research note on Tuesday, September 24th. Oppenheimer assumed coverage on shares of Nutrien in a report on Thursday, December 12th. They issued an “outperform” rating and a $60.00 price objective on the stock. Finally, Raymond James raised Nutrien from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $58.00 to $60.00 in a research report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $58.33.

Nutrien 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.