Bourne Lent Asset Management Inc. Purchases 1,000 Shares of Nutrien Ltd. (NYSE:NTR)

Bourne Lent Asset Management Inc. lifted its position in shares of Nutrien Ltd. (NYSE:NTR) by 2.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,032 shares of the company’s stock after purchasing an additional 1,000 shares during the period. Nutrien comprises 0.7% of Bourne Lent Asset Management Inc.’s investment portfolio, making the stock its 25th largest holding. Bourne Lent Asset Management Inc.’s holdings in Nutrien were worth $1,780,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Lester Murray Antman dba SimplyRich increased its position in Nutrien by 2.3% in the 2nd quarter. Lester Murray Antman dba SimplyRich now owns 9,069 shares of the company’s stock valued at $461,000 after acquiring an additional 202 shares during the period. Moody National Bank Trust Division increased its stake in shares of Nutrien by 1.7% in the first quarter. Moody National Bank Trust Division now owns 12,582 shares of the company’s stock valued at $683,000 after buying an additional 208 shares during the period. FFT Wealth Management LLC raised its position in shares of Nutrien by 0.8% during the second quarter. FFT Wealth Management LLC now owns 29,220 shares of the company’s stock worth $1,488,000 after acquiring an additional 220 shares during the last quarter. Covestor Ltd lifted its stake in shares of Nutrien by 33.3% in the first quarter. Covestor Ltd now owns 932 shares of the company’s stock worth $50,000 after acquiring an additional 233 shares during the period. Finally, MONECO Advisors LLC increased its position in Nutrien by 2.4% during the 2nd quarter. MONECO Advisors LLC now owns 9,791 shares of the company’s stock valued at $498,000 after purchasing an additional 233 shares during the period. Institutional investors and hedge funds own 63.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on NTR. Wells Fargo & Company lowered shares of Nutrien from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $62.00 to $50.00 in a research note on Tuesday, September 24th. Mizuho dropped their price objective on Nutrien from $55.00 to $52.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. The Goldman Sachs Group lowered Nutrien from a “buy” rating to a “neutral” rating and cut their target price for the company from $69.00 to $53.00 in a research report on Tuesday, September 10th. Barclays lowered their target price on Nutrien from $68.00 to $55.00 and set an “overweight” rating for the company in a report on Friday, August 16th. Finally, UBS Group cut Nutrien from a “buy” rating to a “neutral” rating and cut their price target for the stock from $66.00 to $51.00 in a report on Thursday, October 10th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $60.67.

Nutrien Stock Performance

Shares of NTR stock opened at $47.90 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.26 and a quick ratio of 0.82. The firm has a 50-day moving average of $47.55 and a 200-day moving average of $51.30. Nutrien Ltd. has a one year low of $44.65 and a one year high of $62.53. The company has a market cap of $23.70 billion, a P/E ratio of 28.01, a P/E/G ratio of 1.60 and a beta of 0.82.

Nutrien (NYSE:NTR) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $2.34 EPS for the quarter, beating the consensus estimate of $2.19 by $0.15. Nutrien had a net margin of 2.97% and a return on equity of 6.91%. The firm had revenue of $10.16 billion during the quarter, compared to analyst estimates of $10.82 billion. During the same quarter last year, the business posted $2.53 EPS. The company’s revenue for the quarter was down 12.9% on a year-over-year basis. Equities research analysts forecast that Nutrien Ltd. will post 3.83 EPS for the current fiscal year.

Nutrien Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Friday, September 27th will be paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 4.51%. The ex-dividend date of this dividend is Friday, September 27th. Nutrien’s payout ratio is 126.32%.

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.