Nutrien Ltd. (NYSE:NTR) Shares Sold by Parnassus Investments LLC

Parnassus Investments LLC trimmed its position in Nutrien Ltd. (NYSE:NTR) by 46.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,564,307 shares of the company’s stock after selling 1,354,214 shares during the period. Parnassus Investments LLC owned about 0.32% of Nutrien worth $75,181,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Central Pacific Bank Trust Division purchased a new position in shares of Nutrien during the third quarter valued at approximately $28,000. Family Firm Inc. purchased a new position in shares of Nutrien during the 2nd quarter worth $32,000. Trust Co. of Vermont boosted its holdings in shares of 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 last quarter. Covestor Ltd grew its position in shares of Nutrien by 33.3% in the first quarter. Covestor Ltd now owns 932 shares of the company’s stock valued at $50,000 after purchasing an additional 233 shares during the period. Finally, Andra AP fonden acquired a new position in Nutrien in the second quarter valued at $51,000. 63.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NTR. Royal Bank of Canada reissued an “outperform” rating and issued a $60.00 price target on shares of Nutrien in a research note on Friday, September 20th. Hsbc Global Res downgraded shares of Nutrien from a “hold” rating to a “moderate sell” rating in a report on Friday, August 2nd. The Goldman Sachs Group downgraded shares of Nutrien from a “buy” rating to a “neutral” rating and cut their price target for the stock from $69.00 to $53.00 in a research note on Tuesday, September 10th. BMO Capital Markets lowered their price objective on shares of Nutrien from $80.00 to $75.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Finally, UBS Group lowered 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 research report on Thursday, October 10th. Three equities 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. Based on data from MarketBeat, Nutrien has an average rating of “Hold” and a consensus price target of $60.33.

Nutrien Trading Down 1.3 %

NYSE NTR opened at $45.60 on Tuesday. The stock has a market cap of $22.52 billion, a P/E ratio of 30.60, a PEG ratio of 1.61 and a beta of 0.82. The company’s fifty day simple moving average is $47.98 and its 200-day simple moving average is $50.34. 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 52 week low of $44.65 and a 52 week high of $60.87.

Nutrien (NYSE:NTR) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.04). The firm 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 business’s quarterly revenue was down 5.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.35 EPS. Equities research analysts predict that Nutrien Ltd. will post 3.59 EPS for the current fiscal year.

Nutrien Increases Dividend

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