K.J. Harrison & Partners Inc Purchases 55,140 Shares of Nutrien Ltd. $NTR

K.J. Harrison & Partners Inc grew its position in Nutrien Ltd. (NYSE:NTR) by 86.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 118,796 shares of the company’s stock after purchasing an additional 55,140 shares during the quarter. Nutrien makes up about 1.0% of K.J. Harrison & Partners Inc’s investment portfolio, making the stock its 25th largest holding. K.J. Harrison & Partners Inc’s holdings in Nutrien were worth $7,095,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Nutrien by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 21,983,443 shares of the company’s stock valued at $1,291,022,000 after purchasing an additional 80,135 shares during the period. First Eagle Investment Management LLC increased its stake in Nutrien by 14.0% in the 2nd quarter. First Eagle Investment Management LLC now owns 13,268,229 shares of the company’s stock worth $772,742,000 after buying an additional 1,627,328 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Nutrien by 48.5% during the second quarter. Arrowstreet Capital Limited Partnership now owns 11,944,730 shares of the company’s stock valued at $696,058,000 after acquiring an additional 3,900,755 shares during the period. TD Asset Management Inc raised its holdings in Nutrien by 16.5% during the third quarter. TD Asset Management Inc now owns 7,368,861 shares of the company’s stock valued at $432,838,000 after acquiring an additional 1,043,766 shares during the period. Finally, Norges Bank purchased a new position in shares of Nutrien in the second quarter valued at about $395,842,000. 63.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on NTR shares. Wall Street Zen upgraded Nutrien from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. Mizuho increased their price objective on shares of Nutrien from $65.00 to $68.00 and gave the company a “neutral” rating in a report on Friday, January 16th. JPMorgan Chase & Co. lifted their price objective on shares of Nutrien from $68.00 to $78.00 and gave the company an “overweight” rating in a research report on Friday, February 20th. Scotiabank upped their target price on shares of Nutrien from $63.00 to $70.00 and gave the stock a “sector perform” rating in a research report on Monday, February 2nd. Finally, Raymond James Financial raised their target price on shares of Nutrien from $68.00 to $74.00 and gave the company a “market perform” rating in a research note on Friday, February 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $71.47.

Nutrien Stock Down 0.4%

Shares of NTR opened at $72.48 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.34 and a quick ratio of 0.70. The stock has a market capitalization of $34.90 billion, a price-to-earnings ratio of 15.55 and a beta of 0.73. Nutrien Ltd. has a 1 year low of $45.78 and a 1 year high of $73.55. The business’s 50 day simple moving average is $66.83 and its 200-day simple moving average is $61.00.

Nutrien (NYSE:NTR) last posted its earnings results on Wednesday, February 18th. The company reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.04). The business had revenue of $5.12 billion during the quarter, compared to analysts’ expectations of $5.26 billion. Nutrien had a net margin of 8.43% and a return on equity of 8.41%. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period last year, the business posted $0.31 earnings per share. As a group, equities analysts expect that Nutrien Ltd. will post 3.72 earnings per share for the current fiscal year.

Nutrien Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 16th. Stockholders of record on Tuesday, March 31st will be given a dividend of $0.55 per share. The ex-dividend date is Tuesday, March 31st. This represents a $2.20 annualized dividend and a dividend yield of 3.0%. This is a positive change from Nutrien’s previous quarterly dividend of $0.55. Nutrien’s dividend payout ratio is currently 46.78%.

Nutrien Company Profile

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.