Benjamin Edwards Inc. Cuts Position in Nutrien Ltd. (NYSE:NTR)

Benjamin Edwards Inc. trimmed its stake in Nutrien Ltd. (NYSE:NTR) by 7.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 39,016 shares of the company’s stock after selling 3,049 shares during the quarter. Benjamin Edwards Inc.’s holdings in Nutrien were worth $1,986,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Manning & Napier Advisors LLC bought a new position in shares of Nutrien in the 2nd quarter worth $2,639,000. Vanguard Group Inc. raised its position in shares of Nutrien by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 18,210,375 shares of the company’s stock worth $1,025,790,000 after acquiring an additional 158,161 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Nutrien by 370.1% in the 1st quarter. SG Americas Securities LLC now owns 58,041 shares of the company’s stock worth $3,152,000 after acquiring an additional 45,695 shares in the last quarter. BNP Paribas bought a new position in shares of Nutrien in the 1st quarter worth $1,146,000. Finally, Wellington Management Group LLP raised its position in shares of Nutrien by 54.3% in the 4th quarter. Wellington Management Group LLP now owns 841,144 shares of the company’s stock worth $47,620,000 after acquiring an additional 296,122 shares in the last quarter. 63.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on NTR shares. BMO Capital Markets reduced their price target on Nutrien from $80.00 to $75.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Royal Bank of Canada restated an “outperform” rating and set a $60.00 target price on shares of Nutrien in a research note on Monday, August 12th. UBS Group dropped their target price on Nutrien from $67.00 to $66.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. HSBC downgraded Nutrien from a “hold” rating to a “reduce” rating in a research note on Friday, August 2nd. Finally, Barclays dropped their target price on Nutrien from $68.00 to $55.00 and set an “overweight” rating on the stock in a research note on Friday, August 16th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $62.39.

Nutrien Stock Performance

Shares of NTR stock opened at $47.90 on Friday. The stock has a market cap of $23.70 billion, a PE ratio of 28.01, a price-to-earnings-growth ratio of 1.51 and a beta of 0.82. The business has a 50-day simple moving average of $48.05 and a 200-day simple moving average of $51.88. The company has a quick ratio of 0.82, a current ratio of 1.26 and a debt-to-equity ratio of 0.37. Nutrien Ltd. has a 52-week low of $44.65 and a 52-week high of $64.29.

Nutrien (NYSE:NTR) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $2.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.19 by $0.15. The business had revenue of $10.16 billion during the quarter, compared to analysts’ expectations of $10.82 billion. Nutrien had a return on equity of 6.91% and a net margin of 2.97%. The company’s revenue for the quarter was down 12.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.53 EPS. On average, equities analysts expect that Nutrien Ltd. will post 3.81 EPS for the current year.

Nutrien Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Friday, September 27th will be issued a $0.54 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.16 annualized dividend and a dividend yield of 4.51%. Nutrien’s dividend payout ratio (DPR) is presently 126.32%.

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.