Mackenzie Financial Corp Has $405.96 Million Stake in Nutrien Ltd. $NTR

Mackenzie Financial Corp lowered its stake in Nutrien Ltd. (NYSE:NTR) by 3.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,914,275 shares of the company’s stock after selling 215,177 shares during the quarter. Mackenzie Financial Corp’s holdings in Nutrien were worth $405,964,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Smith Moore & CO. boosted its stake in Nutrien by 2.2% during the third quarter. Smith Moore & CO. now owns 7,642 shares of the company’s stock worth $449,000 after acquiring an additional 168 shares in the last quarter. Cascade Investment Advisors Inc. increased its stake in Nutrien by 0.6% in the third quarter. Cascade Investment Advisors Inc. now owns 30,855 shares of the company’s stock valued at $1,811,000 after purchasing an additional 185 shares in the last quarter. Legacy Wealth Asset Management LLC raised its holdings in shares of Nutrien by 1.9% during the third quarter. Legacy Wealth Asset Management LLC now owns 10,535 shares of the company’s stock valued at $619,000 after purchasing an additional 193 shares during the period. AMG National Trust Bank raised its holdings in shares of Nutrien by 4.0% during the third quarter. AMG National Trust Bank now owns 4,986 shares of the company’s stock valued at $293,000 after purchasing an additional 193 shares during the period. Finally, Mitchell & Pahl Private Wealth LLC boosted its position in shares of Nutrien by 1.5% during the 3rd quarter. Mitchell & Pahl Private Wealth LLC now owns 13,146 shares of the company’s stock worth $772,000 after purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 63.10% of the company’s stock.

Analyst Upgrades and Downgrades

NTR has been the subject of a number of research analyst reports. Jefferies Financial Group boosted their target price on Nutrien from $60.00 to $74.00 and gave the company a “hold” rating in a research report on Monday, February 23rd. UBS Group increased their price target on Nutrien from $58.00 to $63.00 and gave the stock a “neutral” rating in a report on Monday, January 12th. Raymond James Financial raised their price objective on Nutrien from $68.00 to $74.00 and gave the company a “market perform” rating in a research note on Friday, February 20th. JPMorgan Chase & Co. boosted their price objective on Nutrien from $68.00 to $78.00 and gave the company an “overweight” rating in a report on Friday, February 20th. Finally, Weiss Ratings raised Nutrien from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, March 2nd. Eight equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $72.82.

Nutrien Trading Up 0.4%

NTR opened at $76.10 on Wednesday. Nutrien Ltd. has a fifty-two week low of $45.78 and a fifty-two week high of $78.08. The firm has a market capitalization of $36.62 billion, a PE ratio of 16.33 and a beta of 0.70. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.34 and a quick ratio of 0.70. The company’s 50-day moving average is $69.01 and its 200 day moving average is $62.17.

Nutrien (NYSE:NTR) last released its quarterly earnings results on Wednesday, February 18th. The company reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.04). The company had revenue of $5.12 billion for the quarter, compared to analyst estimates of $5.26 billion. Nutrien had a net margin of 8.43% and a return on equity of 8.41%. Nutrien’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.31 EPS. As a group, research analysts predict that Nutrien Ltd. will post 3.72 earnings per share for the current fiscal year.

Nutrien Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 16th. Investors of record on Tuesday, March 31st will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This is a positive change from Nutrien’s previous quarterly dividend of $0.55. This represents a $2.20 annualized dividend and a dividend yield of 2.9%. Nutrien’s payout ratio is presently 46.78%.

About Nutrien

Nutrien Ltd. is a global fertilizer and agricultural-services company headquartered in Saskatoon, Saskatchewan, Canada. The company is publicly traded and operates across the farm input value chain, combining upstream fertilizer production with a broad retail and services platform aimed at supporting crop production worldwide. Nutrien’s business model integrates the manufacture and distribution of crop nutrients with on-the-ground agronomic support for growers and agricultural businesses.

Nutrien produces and supplies the three primary fertilizer nutrients—potash, nitrogen and phosphate—through its wholesale operations, and markets a wide range of crop inputs including seeds and crop protection products.