Beutel Goodman & Co Ltd. Reduces Stake in Nutrien Ltd.

Beutel Goodman & Co Ltd. has decreased its investment in Nutrien Ltd. (NYSE:NTR - Free Report) by 9.7% during the fourth quarter, as detailed in their latest 13F filing with the SEC. After selling 613,841 shares in the quarter, the firm now holds 5,701,812 shares of Nutrien’s stock. This reduction means Beutel Goodman owns approximately 1.16% of Nutrien, valued at around $254,999,000 based on the most recent data.

Other Institutional Moves

Several other institutional investors have also made changes to their positions in Nutrien. For instance, Norges Bank acquired a new stake in the company in the fourth quarter, which is valued at $241,958,000. Meanwhile, ARGA Investment Management LP increased its stake by 25.7%, now owning 6,043,590 shares worth $270,396,000 after an additional purchase of 1,236,671 shares. Silchester International Investors LLP also raised its holdings by 9.5%, acquiring 1,009,895 shares to reach a total of 11,693,137 shares valued at $523,268,000. Pacific Heights Asset Management LLC significantly boosted its position by 462.1%, buying an additional 670,000 shares to have 815,000 shares worth $36,471,000. Additionally, Toronto Dominion Bank improved its stake by 11.9%, now holding 4,220,354 shares worth $202,830,000 after purchasing 447,413 more shares. Overall, institutional investors and hedge funds hold about 63.10% of Nutrien’s stock.

Nutrien's Stock Performance

On the trading day that followed these developments, Nutrien's stock opened at $50.13, reflecting a decline of 1.5% from earlier values. The company boasts a market capitalization of $24.52 billion, with a price-to-earnings ratio of 36.59 and a PEG ratio of 1.19. Nutrien's shares have fluctuated significantly, with a low of $43.70 and a high of $60.87 over the past year. Currently, the fifty-day moving average stands at $51.59, while the two-hundred day average is at $48.97. The company also exhibits a debt-to-equity ratio of 0.38, a current ratio of 1.27, and a quick ratio of 0.82.

Recent Earnings and Dividend Announcement

Nutrien last announced its quarterly earnings on February 19, missing analysts' expectations by reporting earnings per share of $0.28, compared to the forecasted $0.37. The company experienced a net margin of 2.62% and a return on equity of 6.81%, with total revenue of $5.08 billion, in line with the consensus estimate of $5.09 billion. Looking ahead, analysts predict an EPS of 3.72 for the current year.

Recently, Nutrien also declared a quarterly dividend, to be paid on April 10, which will be $0.545. Shareholders of record as of March 31 will receive this dividend, reflecting an annualized rate of $2.18 and a yield of 4.35%. The dividend's ex-dividend date is the same as the record date, March 31. Notably, Nutrien's dividend payout ratio (DPR) is high at 159.12%.

Analysts' Views and Price Targets

Equity analysts have recently revised their recommendations and price targets for Nutrien. UBS Group increased their target price from $53.00 to $54.00 while maintaining a "neutral" rating. Wells Fargo & Company raised their target from $53.00 to $56.00, also giving the stock an "equal weight" rating. Oppenheimer initiated coverage with an "outperform" rating and set a $60.00 price target. Conversely, Goldman Sachs issued a "sell" rating with a target price of $53.00. Mizuho raised their price target from $52.00 to $55.00 and assigned a "neutral" rating. According to MarketBeat data, Nutrien has received an average rating of "Hold" from analysts, with a consensus price target of $60.00.

Nutrien's Business Overview

Nutrien Ltd. specializes in providing crop inputs and services, operating through various segments, including Retail, Potash, Nitrogen, and Phosphate. The Retail segment focuses on distributing crop nutrients, crop protection products, seeds, and various merchandise. The Potash segment offers both granular and standard potash products.

Nutrien, Investment, Stocks