Massachusetts Financial Services Co. MA cut its holdings in Nutrien Ltd (NYSE:NTR) by 3.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,427,935 shares of the company’s stock after selling 43,420 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.23% of Nutrien worth $82,392,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Capital Advisors Ltd. LLC acquired a new stake in Nutrien during the third quarter worth approximately $147,000. Whittier Trust Co. boosted its position in Nutrien by 253.2% during the second quarter. Whittier Trust Co. now owns 2,790 shares of the company’s stock worth $152,000 after acquiring an additional 2,000 shares during the last quarter. Bessemer Group Inc. acquired a new stake in Nutrien during the second quarter worth approximately $161,000. Huntington National Bank acquired a new stake in Nutrien during the second quarter worth approximately $199,000. Finally, Lapides Asset Management LLC acquired a new stake in Nutrien during the second quarter worth approximately $200,000. Institutional investors and hedge funds own 66.41% of the company’s stock.
A number of analysts recently issued reports on the stock. TD Securities lowered shares of Nutrien from a “buy” rating to a “hold” rating and raised their target price for the stock from $60.00 to $63.00 in a research report on Friday, August 3rd. Zacks Investment Research upgraded shares of Nutrien from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a research report on Thursday, August 2nd. Scotiabank restated a “buy” rating and set a $65.00 target price on shares of Nutrien in a research report on Friday, August 3rd. Stephens set a $64.00 target price on shares of Nutrien and gave the stock a “buy” rating in a research report on Monday, August 6th. Finally, Barclays assumed coverage on shares of Nutrien in a research report on Tuesday, September 4th. They set an “overweight” rating and a $65.00 target price on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Nutrien has a consensus rating of “Buy” and an average price target of $62.12.
Nutrien (NYSE:NTR) last announced its quarterly earnings results on Wednesday, August 1st. The company reported $1.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.08. The company had revenue of $8.15 billion for the quarter, compared to analyst estimates of $7.70 billion. Nutrien had a net margin of 9.83% and a return on equity of 10.27%. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. Equities research analysts expect that Nutrien Ltd will post 2.58 earnings per share for the current year.
Nutrien Company Profile
Nutrien Ltd. produces and markets crop nutrients worldwide. The company offers potash, nitrogen, phosphate, and solid and liquid phosphate fertilizers; and phosphate feed, ammonium sulfate, and industrial acid products. It also retails seeds, crop protection and crop nutrient products, merchandise products, and agronomic services through operating 1,500 retail locations.
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