Ninety One UK Ltd grew its position in Nutrien Ltd. (NYSE:NTR – Free Report) by 4.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,859,818 shares of the company’s stock after acquiring an additional 78,438 shares during the quarter. Ninety One UK Ltd owned 0.39% of Nutrien worth $130,653,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also modified their holdings of the company. Wellington Management Group LLP bought a new stake in shares of Nutrien in the 2nd quarter worth about $654,081,000. Deutsche Bank AG purchased a new stake in shares of Nutrien during the 2nd quarter valued at about $588,720,000. The Manufacturers Life Insurance Company bought a new position in shares of Nutrien in the 2nd quarter valued at about $375,178,000. Canada Pension Plan Investment Board bought a new position in shares of Nutrien in the 2nd quarter valued at about $359,318,000. Finally, BlackRock Inc. bought a new position in shares of Nutrien in the 2nd quarter valued at about $220,942,000. 63.10% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on NTR. Scotiabank upgraded Nutrien from a “sector perform” rating to a “sector outperform” rating and set a $80.00 price objective on the stock in a research report on Tuesday, June 30th. set a $85.00 price objective on Nutrien and gave the company an “outperform” rating in a research note on Monday, October 5th. BNP Paribas Exane upgraded Nutrien from a “neutral” rating to an “outperform” rating and set a $80.00 target price for the company in a report on Tuesday, July 28th. Oppenheimer dropped their target price on Nutrien from $82.00 to $80.00 and set an “outperform” rating for the company in a report on Thursday, July 23rd. Finally, Morgan Stanley cut their target price on Nutrien from $93.00 to $81.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 7th. Sixteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $79.90.
Nutrien Trading Down 0.6%
Nutrien stock traded down $0.40 during midday trading on Thursday, reaching $69.47. The stock had a trading volume of 1,181,210 shares, compared to its average volume of 3,044,056. The company has a quick ratio of 0.86, a current ratio of 1.39 and a debt-to-equity ratio of 0.36. Nutrien Ltd. has a 52-week low of $53.03 and a 52-week high of $85.36. The firm has a market cap of $33.08 billion, a price-to-earnings ratio of 14.07, a price-to-earnings-growth ratio of 0.75 and a beta of 0.68. The company has a fifty day moving average of $73.08 and a 200 day moving average of $70.57.
Nutrien (NYSE:NTR – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $2.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.70 by ($0.09). Nutrien had a return on equity of 8.88% and a net margin of 8.44%. The firm had revenue of $10.81 billion during the quarter, compared to the consensus estimate of $10.44 billion. During the same period in the previous year, the business earned $2.65 EPS. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, analysts anticipate that Nutrien Ltd. will post 4.63 earnings per share for the current fiscal year.
Nutrien Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Tuesday, September 29th will be issued a dividend of $0.55 per share. The ex-dividend date is Tuesday, September 29th. This represents a $2.20 dividend on an annualized basis and a yield of 3.2%. Nutrien’s payout ratio is presently 44.53%.
Nutrien Profile
Nutrien Ltd. is a Canada-based provider of crop inputs, services and solutions for agricultural producers. The company produces and distributes potash, nitrogen and phosphate products, which are used to support crop nutrition and agricultural productivity. Its product portfolio also includes crop protection products, seed, farm supplies and other agronomic inputs.
Nutrien serves farmers through a broad retail network operating primarily across North and South America, Australia and other international markets.
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