Bedell Frazier Investment Counselling LLC Sells 2,751 Shares of Nutrien Ltd. (NYSE:NTR)

Bedell Frazier Investment Counselling LLC trimmed its position in shares of Nutrien Ltd. (NYSE:NTR) by 2.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 124,028 shares of the company’s stock after selling 2,751 shares during the period. Nutrien accounts for approximately 1.4% of Bedell Frazier Investment Counselling LLC’s investment portfolio, making the stock its 24th biggest position. Bedell Frazier Investment Counselling LLC’s holdings in Nutrien were worth $5,961,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. CORDA Investment Management LLC. increased its holdings in shares of Nutrien by 7.0% in the third quarter. CORDA Investment Management LLC. now owns 494,745 shares of the company’s stock valued at $23,777,000 after purchasing an additional 32,541 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of Nutrien in the second quarter valued at approximately $2,639,000. Cardinal Capital Management Inc. increased its position in Nutrien by 4.3% during the 3rd quarter. Cardinal Capital Management Inc. now owns 564,078 shares of the company’s stock valued at $27,139,000 after purchasing an additional 23,117 shares during the period. Stephens Inc. AR increased its position in Nutrien by 335.0% during the 3rd quarter. Stephens Inc. AR now owns 70,301 shares of the company’s stock valued at $3,379,000 after purchasing an additional 54,138 shares during the period. Finally, Royal Fund Management LLC increased its position in Nutrien by 88.6% during the 3rd quarter. Royal Fund Management LLC now owns 30,722 shares of the company’s stock valued at $1,477,000 after purchasing an additional 14,434 shares during the period. 63.10% of the stock is currently owned by institutional investors and hedge funds.

Nutrien Stock Performance

Shares of NTR stock opened at $46.93 on Monday. The stock has a fifty day moving average of $48.01 and a 200 day moving average of $50.11. Nutrien Ltd. has a 52 week low of $44.65 and a 52 week high of $60.87. The firm has a market capitalization of $23.18 billion, a price-to-earnings ratio of 31.50, a PEG ratio of 1.65 and a beta of 0.82. 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 announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.04). Nutrien had a return on equity of 6.99% and a net margin of 2.79%. The business had revenue of $5.35 billion during the quarter, compared to analysts’ expectations of $5.26 billion. During the same period in the previous year, the business earned $0.35 EPS. The business’s revenue was down 5.0% compared to the same quarter last year. As a group, research analysts expect that Nutrien Ltd. will post 3.56 earnings per share for the current year.

Nutrien Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Tuesday, December 31st will be issued a $0.939 dividend. This is an increase from Nutrien’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.76 dividend on an annualized basis and a yield of 8.00%. Nutrien’s dividend payout ratio is 144.97%.

Analysts Set New Price Targets

NTR has been the topic of several research analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $60.00 price objective on shares of Nutrien in a research report on Friday, September 20th. Barclays decreased their price objective on shares of Nutrien from $68.00 to $55.00 and set an “overweight” rating on the stock in a research report on Friday, August 16th. Hsbc Global Res cut shares of Nutrien from a “hold” rating to a “moderate sell” rating in a research report on Friday, August 2nd. Wells Fargo & Company cut shares of Nutrien from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $62.00 to $50.00 in a research report on Tuesday, September 24th. Finally, UBS Group cut shares of Nutrien from a “buy” rating to a “neutral” rating and decreased their price objective 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target 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.