Beutel Goodman & Co Ltd. Reduces Stake in Nutrien Ltd. (NYSE:NTR)

Beutel Goodman & Co Ltd. has reduced its stake in Nutrien Ltd. (NYSE:NTR - Free Report) by 9.7% during the fourth quarter. According to its latest 13F filing with the SEC, the firm now holds 5,701,812 shares after selling 613,841 shares in the quarter. Following these adjustments, Beutel Goodman & Co Ltd. owns approximately 1.16% of Nutrien, which is valued at around $254,999,000.

In addition to Beutel Goodman, several other institutional investors and hedge funds have also adjusted their positions in Nutrien. Norges Bank made a significant move by purchasing a new stake in Nutrien worth $241,958,000 during the fourth quarter. Similarly, ARGA Investment Management LP increased its holdings by 25.7%, bringing its total shares to 6,043,590, valued at $270,396,000 after acquiring an additional 1,236,671 shares during the quarter. Additionally, Silchester International Investors LLP raised its stake by 9.5%, ending up with 11,693,137 shares, worth $523,268,000, following the purchase of 1,009,895 shares. Pacific Heights Asset Management LLC dramatically boosted its position by 462.1%, now holding 815,000 shares valued at $36,471,000 due to an increase of 670,000 shares. Lastly, Toronto Dominion Bank grew its stake by 11.9%, acquiring 4,220,354 shares valued at $202,830,000 after buying 447,413 additional shares. Overall, institutional investors and hedge funds hold 63.10% of Nutrien's stock.

Nutrien's Stock Performance*

On Friday, Nutrien's stock (NTR) opened at $50.13. The company's market capitalization stands at $24.52 billion, with a price-to-earnings ratio of 36.59, a PEG ratio of 1.19, and a beta value of 0.81. Over the past year, Nutrien's stock has fluctuated, with a low of $43.70 and a high of $60.87. Currently, the company's 50-day moving average price is $51.59, and the 200-day moving average price is $48.97. It also has a debt-to-equity ratio of 0.38, a current ratio of 1.27, and a quick ratio of 0.82.

Nutrien's Dividend Announcement*

Nutrien recently declared its upcoming quarterly dividend, set to be paid on Thursday, April 10th. Investors on record as of Monday, March 31st, will receive a dividend of $0.545 per share, translating to an annualized dividend of $2.18 and a yield of 4.35%. The ex-dividend date is noted as March 31st, and the dividend payout ratio sits at a high 159.12%.

Analysts Update Price Targets*

Several equities analysts have reviewed Nutrien's stock recently. UBS Group raised their price target from $53.00 to $54.00, maintaining a "neutral" rating. Wells Fargo & Company increased their target from $53.00 to $56.00, also giving a rating of "equal weight". Oppenheimer began covering Nutrien, issuing an "outperform" rating with a target price of $60.00. Contrarily, The Goldman Sachs Group initiated coverage with a "sell" rating and a price objective of $53.00. Mizuho has also raised its target from $52.00 to $55.00 with a "neutral" rating. Overall, the ratings on the stock reveal a mix of two sell ratings, five holds, and eight buy ratings, with an average rating of "Hold" and a consensus price target of $60.00 according to MarketBeat.com.

Nutrien Company Overview*

Nutrien Ltd. specializes in providing crop inputs and related services. The company operates through four main segments: Retail, Potash, Nitrogen, and Phosphate. The Retail segment focuses on distributing crop nutrients, crop protection products, seeds, and various merchandise products. The Potash segment supplies both granular and standard potash products.

Nutrien, Beutel, Investment