Nutrien Ltd. $NTR Shares Acquired by DAVENPORT & Co LLC

DAVENPORT & Co LLC grew its holdings in Nutrien Ltd. (NYSE:NTR) by 7.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,388 shares of the company’s stock after acquiring an additional 376 shares during the quarter. DAVENPORT & Co LLC’s holdings in Nutrien were worth $313,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in NTR. JPMorgan Chase & Co. raised its stake in shares of Nutrien by 48.7% in the first quarter. JPMorgan Chase & Co. now owns 6,992,535 shares of the company’s stock worth $347,319,000 after purchasing an additional 2,291,518 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Nutrien by 7.1% in the first quarter. Vanguard Group Inc. now owns 21,191,003 shares of the company’s stock worth $1,051,709,000 after purchasing an additional 1,412,503 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Nutrien by 17.1% in the first quarter. Canada Pension Plan Investment Board now owns 8,786,309 shares of the company’s stock worth $436,137,000 after purchasing an additional 1,284,181 shares during the last quarter. Nuveen LLC purchased a new position in shares of Nutrien in the first quarter worth about $63,542,000. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Nutrien by 16.5% in the first quarter. The Manufacturers Life Insurance Company now owns 6,554,638 shares of the company’s stock worth $326,927,000 after purchasing an additional 927,041 shares during the last quarter. Institutional investors and hedge funds own 63.10% of the company’s stock.

Nutrien Stock Down 2.0%

Shares of NTR stock opened at $59.89 on Monday. The stock has a 50 day moving average of $57.72 and a 200 day moving average of $57.34. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 0.39. The stock has a market cap of $29.06 billion, a P/E ratio of 21.46, a P/E/G ratio of 0.97 and a beta of 0.82. Nutrien Ltd. has a twelve month low of $43.69 and a twelve month high of $65.08.

Nutrien (NYSE:NTR) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.24. The company had revenue of $10.30 billion during the quarter, compared to analysts’ expectations of $10.40 billion. Nutrien had a return on equity of 6.51% and a net margin of 5.25%.Nutrien’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period last year, the business earned $2.34 earnings per share. As a group, sell-side analysts expect that Nutrien Ltd. will post 3.72 EPS for the current year.

Nutrien Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Monday, September 29th will be issued a $0.545 dividend. This represents a $2.18 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Monday, September 29th. Nutrien’s dividend payout ratio (DPR) is presently 78.14%.

Analyst Ratings Changes

NTR has been the subject of several research analyst reports. UBS Group reduced their price objective on Nutrien from $64.00 to $63.00 and set a “neutral” rating for the company in a research note on Thursday, August 7th. Jefferies Financial Group reduced their price objective on Nutrien from $61.00 to $60.00 and set a “hold” rating for the company in a research note on Tuesday, September 9th. Royal Bank Of Canada restated an “outperform” rating on shares of Nutrien in a research note on Monday, July 14th. Zacks Research cut Nutrien from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 16th. Finally, Morgan Stanley raised their price objective on Nutrien from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 26th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $62.39.

Nutrien Profile

Nutrien Ltd. provides crop inputs and services. The company operates through four segments: Retail, Potash, Nitrogen, and Phosphate. The Retail segment distributes crop nutrients, crop protection products, seeds, and merchandise products. The Potash segment provides granular and standard potash products.