1832 Asset Management L.P. Buys 167,312 Shares of Nutrien Ltd. (NYSE:NTR)

1832 Asset Management L.P. increased its stake in shares of Nutrien Ltd. (NYSE:NTR) by 1.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,006,528 shares of the company’s stock after purchasing an additional 167,312 shares during the quarter. Nutrien comprises about 0.4% of 1832 Asset Management L.P.’s portfolio, making the stock its 29th biggest position. 1832 Asset Management L.P.’s holdings in Nutrien were worth $458,522,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of NTR. Family Firm Inc. bought a new stake in shares of Nutrien during the second quarter valued at approximately $32,000. GoalVest Advisory LLC bought a new stake in shares of Nutrien during the first quarter valued at approximately $35,000. Trust Co. of Vermont grew its stake in shares of Nutrien by 50.0% during the second quarter. Trust Co. of Vermont now owns 900 shares of the company’s stock valued at $46,000 after purchasing an additional 300 shares during the last quarter. Covestor Ltd grew its stake in shares of Nutrien by 33.3% during the first quarter. Covestor Ltd now owns 932 shares of the company’s stock valued at $50,000 after purchasing an additional 233 shares during the last quarter. Finally, Andra AP fonden bought a new stake in shares of Nutrien during the second quarter valued at approximately $51,000. 63.10% of the stock is owned by institutional investors.

Nutrien Trading Down 1.8 %

Shares of NYSE:NTR opened at $47.06 on Friday. Nutrien Ltd. has a 12 month low of $44.65 and a 12 month high of $63.60. The company has a quick ratio of 0.82, a current ratio of 1.26 and a debt-to-equity ratio of 0.37. The company’s fifty day simple moving average is $48.00 and its 200 day simple moving average is $51.86. The firm has a market cap of $23.29 billion, a price-to-earnings ratio of 27.52, a PEG ratio of 1.53 and a beta of 0.82.

Nutrien (NYSE:NTR) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $2.34 EPS for the quarter, topping analysts’ consensus estimates of $2.19 by $0.15. Nutrien had a net margin of 2.97% and a return on equity of 6.91%. The business had revenue of $10.16 billion for the quarter, compared to analyst estimates of $10.82 billion. During the same period last year, the business posted $2.53 earnings per share. The firm’s quarterly revenue was down 12.9% on a year-over-year basis. As a group, research analysts forecast that Nutrien Ltd. will post 3.81 EPS for the current fiscal year.

Nutrien Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Friday, September 27th will be issued a dividend of $0.54 per share. The ex-dividend date is Friday, September 27th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 4.59%. Nutrien’s payout ratio is 126.32%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on NTR shares. Mizuho reduced their price objective on shares of Nutrien from $55.00 to $52.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. TD Securities reduced their price objective on shares of Nutrien from $69.00 to $67.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. The Goldman Sachs Group cut shares of Nutrien from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $69.00 to $53.00 in a research note on Tuesday, September 10th. Wells Fargo & Company reduced their price objective on shares of Nutrien from $68.00 to $66.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 16th. Finally, Piper Sandler reduced their price objective on shares of Nutrien from $56.00 to $55.00 and set an “underweight” rating on the stock in a research note on Tuesday, June 11th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $62.39.

Nutrien Company 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.