Hsbc Holdings PLC Trims Stock Holdings in Nutrien Ltd. (NYSE:NTR)

Hsbc Holdings PLC lowered its stake in shares of Nutrien Ltd. (NYSE:NTR) by 65.6% during the second quarter, Holdings Channel reports. The fund owned 130,176 shares of the company’s stock after selling 248,323 shares during the quarter. Hsbc Holdings PLC’s holdings in Nutrien were worth $6,664,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Family Firm Inc. purchased a new stake in shares of Nutrien during the second quarter worth about $32,000. GoalVest Advisory LLC acquired a new position in Nutrien in the 1st quarter valued at $35,000. Trust Co. of Vermont lifted its stake in shares of Nutrien by 50.0% during the 2nd quarter. Trust Co. of Vermont now owns 900 shares of the company’s stock worth $46,000 after purchasing an additional 300 shares during the period. Covestor Ltd boosted its holdings in shares of Nutrien by 33.3% during the first quarter. Covestor Ltd now owns 932 shares of the company’s stock worth $50,000 after purchasing an additional 233 shares during the last quarter. Finally, Andra AP fonden purchased a new stake in shares of Nutrien in the second quarter valued at $51,000. Hedge funds and other institutional investors own 63.10% of the company’s stock.

Nutrien Stock Up 0.9 %

NYSE NTR opened at $47.48 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 1.26 and a debt-to-equity ratio of 0.37. Nutrien Ltd. has a fifty-two week low of $44.65 and a fifty-two week high of $63.60. The business has a 50 day moving average price of $47.95 and a two-hundred day moving average price of $51.81. The stock has a market cap of $23.49 billion, a PE ratio of 27.77, a P/E/G ratio of 1.53 and a beta of 0.82.

Nutrien (NYSE:NTR) last released its quarterly earnings results on Wednesday, August 7th. The company reported $2.34 earnings per share for the quarter, beating analysts’ consensus estimates of $2.19 by $0.15. Nutrien had a net margin of 2.97% and a return on equity of 6.91%. The business had revenue of $10.16 billion during the quarter, compared to analyst estimates of $10.82 billion. During the same period last year, the business earned $2.53 EPS. The business’s revenue was down 12.9% on a year-over-year basis. As a group, sell-side analysts predict that Nutrien Ltd. will post 3.81 EPS for the current fiscal year.

Nutrien Announces Dividend

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 annualized dividend and a dividend yield of 4.55%. The ex-dividend date is Friday, September 27th. Nutrien’s dividend payout ratio (DPR) is currently 126.32%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on NTR shares. Scotiabank reduced their target price on Nutrien from $66.00 to $59.00 and set a “sector outperform” rating on the stock in a research report on Monday, August 12th. Wells Fargo & Company cut their price objective on shares of Nutrien from $68.00 to $66.00 and set an “overweight” rating on the stock in a report on Tuesday, July 16th. Piper Sandler lowered their target price on shares of Nutrien from $56.00 to $55.00 and set an “underweight” rating for the company in a report on Tuesday, June 11th. Barclays cut their price target on shares of Nutrien from $68.00 to $55.00 and set an “overweight” rating on the stock in a research note on Friday, August 16th. Finally, HSBC lowered shares of Nutrien from a “hold” rating to a “reduce” rating in a report on Friday, August 2nd. Three research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $62.39.

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.