Drive Wealth Management LLC Sells 1,457 Shares of Nutrien Ltd. (NYSE:NTR)

Drive Wealth Management LLC lessened its position in shares of Nutrien Ltd. (NYSE:NTR) by 11.8% in the fourth quarter, HoldingsChannel reports. The fund owned 10,849 shares of the company’s stock after selling 1,457 shares during the period. Drive Wealth Management LLC’s holdings in Nutrien were worth $491,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Silchester International Investors LLP grew its stake in Nutrien by 9.5% during the fourth quarter. Silchester International Investors LLP now owns 11,693,137 shares of the company’s stock worth $523,268,000 after buying an additional 1,009,895 shares in the last quarter. National Bank of Canada FI grew its holdings in Nutrien by 4.1% during the 3rd quarter. National Bank of Canada FI now owns 4,232,211 shares of the company’s stock worth $203,380,000 after acquiring an additional 165,582 shares during the last quarter. Toronto Dominion Bank grew its position in shares of Nutrien by 11.9% in the 3rd quarter. Toronto Dominion Bank now owns 4,220,354 shares of the company’s stock valued at $202,830,000 after buying an additional 447,413 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Nutrien during the 3rd quarter valued at approximately $150,181,000. Finally, Clal Insurance Enterprises Holdings Ltd raised its stake in Nutrien by 78.8% during the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,495,282 shares of the company’s stock worth $121,271,000 after buying an additional 1,100,000 shares during the last quarter. Institutional investors own 63.10% of the company’s stock.

Nutrien Trading Down 1.9 %

Shares of NYSE:NTR opened at $52.79 on Monday. The business has a 50 day moving average of $47.61 and a two-hundred day moving average of $47.99. The company has a market capitalization of $25.93 billion, a PE ratio of 35.43, a PEG ratio of 1.17 and a beta of 0.81. Nutrien Ltd. has a 12-month low of $43.69 and a 12-month high of $60.87. The company has a current ratio of 1.27, a quick ratio of 0.82 and a debt-to-equity ratio of 0.38.

Nutrien (NYSE:NTR) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.04). Nutrien had a net margin of 2.79% and a return on equity of 6.99%. The company had revenue of $5.35 billion for the quarter, compared to analysts’ expectations of $5.26 billion. During the same period in the previous year, the business earned $0.35 earnings per share. The business’s revenue for the quarter was down 5.0% on a year-over-year basis. As a group, analysts forecast that Nutrien Ltd. will post 3.5 EPS for the current year.

Nutrien Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Tuesday, December 31st were issued a $0.939 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 7.11%. This is a positive change from Nutrien’s previous quarterly dividend of $0.54. Nutrien’s dividend payout ratio is currently 144.97%.

Analyst Ratings Changes

Several equities research analysts have weighed in on NTR shares. JPMorgan Chase & Co. raised shares of Nutrien from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $40.00 to $50.00 in a research note on Monday, January 13th. Barclays reaffirmed an “equal weight” rating and issued a $56.00 price objective (up from $55.00) on shares of Nutrien in a research report on Tuesday, January 21st. TD Securities decreased their price objective on shares of Nutrien from $63.00 to $61.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. UBS Group lowered 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 report on Thursday, October 10th. Finally, Piper Sandler upgraded Nutrien from an “underweight” rating to an “overweight” rating and lifted their price target for the company from $50.00 to $58.00 in a research report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $58.39.

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.