Connor Clark & Lunn Investment Management Ltd. Increases Stock Holdings in Nutrien Ltd. (NYSE:NTR)

Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Nutrien Ltd. (NYSE:NTR) by 34.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,287,220 shares of the company’s stock after purchasing an additional 327,799 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Nutrien were worth $61,848,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Silchester International Investors LLP grew its position in Nutrien by 164.4% during the third quarter. Silchester International Investors LLP now owns 10,683,242 shares of the company’s stock valued at $513,437,000 after buying an additional 6,642,075 shares during the period. Bank of Montreal Can grew its position 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 period. National Bank of Canada FI increased its stake in shares of Nutrien by 34.0% in the 2nd quarter. National Bank of Canada FI now owns 4,066,629 shares of the company’s stock worth $205,385,000 after purchasing an additional 1,032,763 shares in the last quarter. 1832 Asset Management L.P. raised its holdings in Nutrien by 10.6% in the 1st quarter. 1832 Asset Management L.P. now owns 8,839,216 shares of the company’s stock worth $480,058,000 after purchasing an additional 844,559 shares during the period. Finally, Public Sector Pension Investment Board purchased a new position in Nutrien during the second quarter valued at $38,176,000. Institutional investors own 63.10% of the company’s stock.

Nutrien Stock Performance

NYSE NTR opened at $45.56 on Wednesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.27 and a quick ratio of 0.82. Nutrien Ltd. has a 1-year low of $44.65 and a 1-year high of $60.87. The business has a 50 day simple moving average of $47.98 and a two-hundred day simple moving average of $50.28. The stock has a market capitalization of $22.50 billion, a PE ratio of 30.58, a P/E/G ratio of 1.61 and a beta of 0.82.

Nutrien (NYSE:NTR) last posted its earnings results on Wednesday, November 6th. The company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.04). The business had revenue of $5.35 billion during 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% compared to the same quarter last year. During the same period last year, the business posted $0.35 earnings per share. On average, research analysts predict that Nutrien Ltd. will post 3.59 EPS for the current fiscal year.

Nutrien Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st will be issued a $0.939 dividend. The ex-dividend date 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 dividend yield of 8.24%. Nutrien’s payout ratio is 144.97%.

Wall Street Analysts Forecast Growth

NTR has been the subject of a number of analyst reports. Hsbc Global Res cut Nutrien from a “hold” rating to a “moderate sell” rating in a research report on Friday, August 2nd. Scotiabank reduced their target price on shares of Nutrien from $66.00 to $59.00 and set a “sector outperform” rating for the company in a report on Monday, August 12th. UBS Group cut shares of Nutrien from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $66.00 to $51.00 in a research note on Thursday, October 10th. Wells Fargo & Company lowered shares of Nutrien from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $62.00 to $50.00 in a research report on Tuesday, September 24th. Finally, The Goldman Sachs Group downgraded shares of Nutrien from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $69.00 to $53.00 in a research report on Tuesday, September 10th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus 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.