Meridian Wealth Management LLC Decreases Holdings in Nutrien Ltd. (NYSE:NTR)

Meridian Wealth Management LLC reduced its position in Nutrien Ltd. (NYSE:NTR) by 6.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,331 shares of the company’s stock after selling 420 shares during the period. Meridian Wealth Management LLC’s holdings in Nutrien were worth $305,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Silchester International Investors LLP boosted its position in Nutrien by 164.4% in the third quarter. Silchester International Investors LLP now owns 10,683,242 shares of the company’s stock worth $513,437,000 after purchasing an additional 6,642,075 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of Nutrien by 15.5% in the 2nd quarter. Bank of Montreal Can now owns 13,354,385 shares of the company’s stock worth $719,668,000 after purchasing an additional 1,794,333 shares during the period. National Bank of Canada FI boosted its holdings in shares of Nutrien by 34.0% in the second quarter. National Bank of Canada FI now owns 4,066,629 shares of the company’s stock worth $205,385,000 after buying an additional 1,032,763 shares during the last quarter. Public Sector Pension Investment Board bought a new stake in Nutrien during the second quarter valued at approximately $38,176,000. Finally, Meitav Investment House Ltd. purchased a new stake in Nutrien during the second quarter valued at approximately $31,063,000. Institutional investors own 63.10% of the company’s stock.

Analysts Set New Price Targets

NTR has been the topic of several analyst reports. Hsbc Global Res downgraded shares of Nutrien from a “hold” rating to a “moderate sell” rating in a research report on Friday, August 2nd. HSBC lowered Nutrien from a “hold” rating to a “reduce” rating in a report on Friday, August 2nd. Barclays decreased their price objective on Nutrien from $68.00 to $55.00 and set an “overweight” rating on the stock in a research note on Friday, August 16th. Scotiabank reduced their target price on shares of Nutrien from $66.00 to $59.00 and set a “sector outperform” rating for the company in a report on Monday, August 12th. Finally, TD Securities decreased their target price on shares of Nutrien from $63.00 to $61.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Three investment analysts have rated the stock with a sell rating, six have given 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 $60.33.

Nutrien Stock Down 0.3 %

Shares of NTR stock opened at $46.81 on Tuesday. The stock has a market cap of $23.12 billion, a P/E ratio of 31.42, a PEG ratio of 1.65 and a beta of 0.82. The company’s fifty day simple moving average is $48.01 and its two-hundred day simple moving average is $50.03. 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 Ltd. has a 52 week low of $44.65 and a 52 week high of $60.87.

Nutrien (NYSE:NTR) last posted its 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). The firm had revenue of $5.35 billion during the quarter, compared to analysts’ expectations of $5.26 billion. Nutrien had a return on equity of 6.99% and a net margin of 2.79%. Nutrien’s quarterly revenue was down 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.35 earnings per share. Analysts predict that Nutrien Ltd. will post 3.56 EPS for the current fiscal year.

Nutrien Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.939 per share. This is an increase from Nutrien’s previous quarterly dividend of $0.54. This represents a $3.76 dividend on an annualized basis and a dividend yield of 8.02%. The ex-dividend date of this dividend is Tuesday, December 31st. Nutrien’s dividend payout ratio is currently 144.97%.

Nutrien Company 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.