Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Nutrien Ltd. (NYSE:NTR – Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 440,835 shares of the company’s stock, valued at approximately $27,715,000. Connor Clark & Lunn Investment Management Ltd. owned 0.09% of Nutrien 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. Montag A & Associates Inc. increased its position in shares of Nutrien by 310.7% during the 4th quarter. Montag A & Associates Inc. now owns 423 shares of the company’s stock valued at $26,000 after purchasing an additional 320 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Nutrien by 1,014.0% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 479 shares of the company’s stock valued at $30,000 after buying an additional 436 shares during the period. Global Retirement Partners LLC bought a new position in Nutrien during the second quarter valued at about $30,000. Evolution Wealth Management Inc. bought a new position in Nutrien during the first quarter valued at about $32,000. Finally, Allied Private Wealth LLC acquired a new position in Nutrien during the second quarter worth about $33,000. Institutional investors own 63.10% of the company’s stock.
Nutrien Stock Down 1.3%
Shares of Nutrien stock opened at $74.28 on Tuesday. The firm has a market cap of $35.53 billion, a price-to-earnings ratio of 15.04, a P/E/G ratio of 0.76 and a beta of 0.61. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.39 and a quick ratio of 0.86. Nutrien Ltd. has a 52-week low of $53.03 and a 52-week high of $85.36. The stock has a 50-day simple moving average of $66.58 and a 200-day simple moving average of $70.46.
Nutrien Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Tuesday, September 29th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Tuesday, September 29th. Nutrien’s dividend payout ratio is 44.53%.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on the stock. Bank of America upgraded shares of Nutrien from a “neutral” rating to a “buy” rating and set a $82.00 price target on the stock in a research report on Thursday, April 30th. Morgan Stanley decreased their target price on Nutrien from $93.00 to $81.00 and set an “overweight” rating on the stock in a report on Tuesday, July 7th. Scotiabank raised shares of Nutrien from a “sector perform” rating to a “sector outperform” rating and set a $80.00 target price on the stock in a research report on Tuesday, June 30th. Mizuho cut their target price on shares of Nutrien from $77.00 to $75.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 14th. Finally, TD Securities restated a “buy” rating on shares of Nutrien in a report on Wednesday, May 6th. Seventeen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Nutrien has a consensus rating of “Moderate Buy” and an average price target of $81.58.
View Our Latest Stock Report on NTR
About Nutrien
Nutrien Ltd. is a global fertilizer and agricultural-services company headquartered in Saskatoon, Saskatchewan, Canada. The company is publicly traded and operates across the farm input value chain, combining upstream fertilizer production with a broad retail and services platform aimed at supporting crop production worldwide. Nutrien’s business model integrates the manufacture and distribution of crop nutrients with on-the-ground agronomic support for growers and agricultural businesses.
Nutrien produces and supplies the three primary fertilizer nutrients—potash, nitrogen and phosphate—through its wholesale operations, and markets a wide range of crop inputs including seeds and crop protection products.
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