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

Drive Wealth Management LLC cut its holdings in Nutrien Ltd. (NYSE:NTR) by 11.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,849 shares of the company’s stock after selling 1,457 shares during the quarter. Drive Wealth Management LLC’s holdings in Nutrien were worth $491,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Silchester International Investors LLP lifted its position in Nutrien by 9.5% in the 4th quarter. Silchester International Investors LLP now owns 11,693,137 shares of the company’s stock valued at $523,268,000 after acquiring an additional 1,009,895 shares in the last quarter. National Bank of Canada FI lifted its position in shares of Nutrien by 4.1% during the 3rd quarter. National Bank of Canada FI now owns 4,232,211 shares of the company’s stock valued at $203,380,000 after buying an additional 165,582 shares during the last quarter. Toronto Dominion Bank increased its stake in shares of Nutrien by 11.9% in the third quarter. Toronto Dominion Bank now owns 4,220,354 shares of the company’s stock worth $202,830,000 after purchasing an additional 447,413 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Nutrien during the third quarter worth $150,181,000. Finally, Clal Insurance Enterprises Holdings Ltd grew its holdings in Nutrien by 78.8% during the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,495,282 shares of the company’s stock valued at $121,271,000 after buying an additional 1,100,000 shares in the last quarter. 63.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NTR. Barclays reiterated an “equal weight” rating and set a $56.00 target price (up from $55.00) on shares of Nutrien in a research report on Tuesday, January 21st. Piper Sandler raised shares of Nutrien from an “underweight” rating to an “overweight” rating and upped their price objective for the company from $50.00 to $58.00 in a research note on Monday, January 13th. JPMorgan Chase & Co. upgraded shares of Nutrien from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $40.00 to $50.00 in a report on Monday, January 13th. UBS Group cut shares of Nutrien from a “buy” rating to a “neutral” rating and lowered their price target for the company from $66.00 to $51.00 in a research report on Thursday, October 10th. Finally, CIBC reissued an “outperformer” rating and issued a $55.00 target price (down previously from $60.00) on shares of Nutrien in a report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $58.39.

Nutrien Price Performance

NTR opened at $52.79 on Monday. The firm has a market capitalization of $25.93 billion, a P/E 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 quick ratio of 0.82, a current ratio of 1.27 and a debt-to-equity ratio of 0.38. The stock has a fifty day moving average of $47.61 and a 200-day moving average of $47.99.

Nutrien (NYSE:NTR) last released its earnings results 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 business had revenue of $5.35 billion during the quarter, compared to analyst estimates of $5.26 billion. Nutrien had a net margin of 2.79% and a return on equity of 6.99%. The business’s quarterly revenue was down 5.0% compared to the same quarter last year. During the same period last year, the business earned $0.35 EPS. Equities analysts forecast that Nutrien Ltd. will post 3.5 EPS for the current fiscal year.

Nutrien Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Tuesday, December 31st were paid a $0.939 dividend. This is a positive change from Nutrien’s previous quarterly dividend of $0.54. The ex-dividend date was Tuesday, December 31st. This represents a $3.76 annualized dividend and a yield of 7.11%. Nutrien’s dividend payout ratio is presently 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.