Boyce & Associates Wealth Consulting Inc. Cuts Stake in Nutrien Ltd. (NYSE:NTR)

Boyce & Associates Wealth Consulting Inc. decreased its position in shares of Nutrien Ltd. (NYSE:NTR) by 8.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,910 shares of the company’s stock after selling 430 shares during the quarter. Boyce & Associates Wealth Consulting Inc.’s holdings in Nutrien were worth $220,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of Montreal Can boosted its holdings in shares of Nutrien by 15.5% during the 2nd quarter. Bank of Montreal Can now owns 13,354,385 shares of the company’s stock valued at $719,668,000 after acquiring an additional 1,794,333 shares during the last quarter. Silchester International Investors LLP grew its position in Nutrien by 164.4% in the 3rd quarter. Silchester International Investors LLP now owns 10,683,242 shares of the company’s stock worth $513,437,000 after purchasing an additional 6,642,075 shares during the period. 1832 Asset Management L.P. raised its stake in Nutrien by 1.9% during the 2nd quarter. 1832 Asset Management L.P. now owns 9,006,528 shares of the company’s stock valued at $458,522,000 after buying an additional 167,312 shares during the last quarter. Altshuler Shaham Ltd lifted its holdings in shares of Nutrien by 8.1% during the 2nd quarter. Altshuler Shaham Ltd now owns 5,990,374 shares of the company’s stock valued at $304,970,000 after buying an additional 446,340 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Nutrien by 8.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,145,375 shares of the company’s stock worth $261,985,000 after buying an additional 399,348 shares during the last quarter. Institutional investors own 63.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NTR. UBS Group cut Nutrien from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $66.00 to $51.00 in a research report on Thursday, October 10th. Raymond James raised shares of Nutrien from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $58.00 to $60.00 in a report on Tuesday, December 3rd. Oppenheimer initiated coverage on shares of Nutrien in a research report on Thursday, December 12th. They set an “outperform” rating and a $60.00 target price for the company. CIBC reiterated an “outperformer” rating and issued a $55.00 price target (down from $60.00) on shares of Nutrien in a research report on Tuesday, December 10th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $60.00 price objective on shares of Nutrien in a research report on Friday, September 20th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $59.05.

Nutrien Price Performance

Nutrien stock opened at $48.46 on Monday. Nutrien Ltd. has a 52-week low of $43.69 and a 52-week high of $60.87. The company has a market cap of $23.86 billion, a price-to-earnings ratio of 32.52, a PEG ratio of 1.73 and a beta of 0.81. The firm’s fifty day moving average is $46.87 and its 200 day moving average is $47.85. The company has a quick ratio of 0.82, a current ratio of 1.27 and a debt-to-equity ratio of 0.38.

Nutrien (NYSE:NTR) last issued its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $5.26 billion. Nutrien had a net margin of 2.79% and a return on equity of 6.99%. The company’s revenue for the quarter was down 5.0% on a year-over-year basis. During the same quarter last year, the company earned $0.35 earnings per share. Sell-side analysts forecast that Nutrien Ltd. will post 3.5 EPS for the current fiscal year.

Nutrien Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Tuesday, December 31st will be given a $0.939 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is an increase from Nutrien’s previous quarterly dividend of $0.54. This represents a $3.76 dividend on an annualized basis and a yield of 7.75%. Nutrien’s dividend payout ratio (DPR) is currently 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.