Pekin Hardy Strauss Inc. Sells 29,848 Shares of Nutrien Ltd. (NYSE:NTR)

Pekin Hardy Strauss Inc. lowered its holdings in shares of Nutrien Ltd. (NYSE:NTR) by 85.4% during the third quarter, Holdings Channel reports. The firm owned 5,088 shares of the company’s stock after selling 29,848 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Nutrien were worth $245,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Central Pacific Bank Trust Division acquired a new stake in shares of Nutrien in the third quarter worth about $28,000. Family Firm Inc. acquired a new stake in Nutrien in the 2nd quarter worth approximately $32,000. Trust Co. of Vermont boosted its position in Nutrien by 50.0% during the second quarter. Trust Co. of Vermont now owns 900 shares of the company’s stock worth $46,000 after purchasing an additional 300 shares during the period. Andra AP fonden bought a new position in shares of Nutrien in the second quarter valued at approximately $51,000. Finally, Oakworth Capital Inc. bought a new position in shares of Nutrien in the second quarter valued at approximately $52,000. Institutional investors and hedge funds own 63.10% of the company’s stock.

Nutrien Stock Down 0.3 %

Shares of NTR opened at $46.81 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 1.27 and a debt-to-equity ratio of 0.38. The company has a 50-day moving average price of $48.01 and a two-hundred day moving average price of $50.03. The stock has a market cap of $23.12 billion, a price-to-earnings ratio of 31.42, a P/E/G ratio of 1.65 and a beta of 0.82. Nutrien Ltd. has a 12 month low of $44.65 and a 12 month high of $60.87.

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

Nutrien Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st will be paid a $0.939 dividend. This represents a $3.76 annualized dividend and a dividend yield of 8.02%. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from Nutrien’s previous quarterly dividend of $0.54. Nutrien’s payout ratio is currently 144.97%.

Wall Street Analysts Forecast Growth

NTR has been the subject of a number of research analyst reports. Scotiabank cut their target price on shares of Nutrien from $66.00 to $59.00 and set a “sector outperform” rating for the company in a research report on Monday, August 12th. Wells Fargo & Company downgraded Nutrien from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $62.00 to $50.00 in a research note on Tuesday, September 24th. BMO Capital Markets dropped their price target on Nutrien from $80.00 to $75.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. HSBC cut Nutrien from a “hold” rating to a “reduce” rating in a research report on Friday, August 2nd. Finally, Mizuho dropped their target price on shares of Nutrien from $55.00 to $52.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Nutrien presently has an average rating of “Hold” and a consensus target price of $60.33.

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.