Hsbc Holdings PLC Buys New Stake in Nutrien Ltd. $NTR

Hsbc Holdings PLC purchased a new stake in Nutrien Ltd. (NYSE:NTR) during the second quarter, HoldingsChannel.com reports. The fund purchased 76,254 shares of the company’s stock, valued at approximately $4,818,000.

Several other hedge funds and other institutional investors have also made changes to their positions in NTR. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Nutrien by 1,014.0% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 479 shares of the company’s stock valued at $30,000 after purchasing an additional 436 shares in the last quarter. Global Retirement Partners LLC purchased a new stake in shares of Nutrien in the second quarter worth about $30,000. Evolution Wealth Management Inc. purchased a new stake in shares of Nutrien in the first quarter worth about $32,000. Allied Private Wealth LLC bought a new position in Nutrien during the second quarter valued at approximately $33,000. Finally, Sfam LLC bought a new position in Nutrien during the fourth quarter valued at approximately $37,000. Institutional investors own 63.10% of the company’s stock.

Nutrien Stock Up 0.2%

Shares of NYSE NTR opened at $80.80 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.39 and a quick ratio of 0.86. The company has a market cap of $38.56 billion, a P/E ratio of 16.36, a PEG ratio of 0.86 and a beta of 0.62. Nutrien Ltd. has a 1 year low of $53.03 and a 1 year high of $85.36. The firm has a 50-day simple moving average of $70.15 and a two-hundred day simple moving average of $71.04.

Nutrien (NYSE:NTR) last released its earnings results on Wednesday, August 5th. The company reported $2.61 EPS for the quarter, missing analysts’ consensus estimates of $2.70 by ($0.09). Nutrien had a net margin of 8.44% and a return on equity of 8.88%. The business had revenue of $10.81 billion for the quarter, compared to the consensus estimate of $10.44 billion. During the same period in the prior year, the company posted $2.65 EPS. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. Research analysts anticipate that Nutrien Ltd. will post 4.71 earnings per share for the current year.

Nutrien Announces Dividend

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 issued a $0.55 dividend. The ex-dividend date is Tuesday, September 29th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.7%. Nutrien’s dividend payout ratio is presently 44.53%.

Analyst Ratings Changes

A number of analysts have issued reports on NTR shares. Scotiabank raised Nutrien from a “sector perform” rating to a “sector outperform” rating and set a $80.00 price objective on the stock in a research note on Tuesday, June 30th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Nutrien in a research report on Monday, August 10th. Barclays reduced their target price on shares of Nutrien from $81.00 to $78.00 and set an “overweight” rating on the stock in a report on Monday, August 10th. Oppenheimer dropped their price target on Nutrien from $82.00 to $80.00 and set an “outperform” rating for the company in a research report on Thursday, July 23rd. Finally, Mizuho lowered their price objective on Nutrien from $77.00 to $75.00 and set a “neutral” rating for the company in a research note on Tuesday, July 14th. Seventeen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.58.

Nutrien Company Profile

Nutrien Ltd. (NYSE:NTR) is a global provider of crop inputs and agricultural services. The company produces and distributes essential nutrients, including potash, nitrogen and phosphate products, which farmers use to support crop growth and improve yields.

Through its retail operations, Nutrien supplies farmers with seed, crop protection products, fertilizers and agronomic services. Its retail network also provides farm management recommendations, application services and other solutions designed to help growers manage their operations and use agricultural inputs more efficiently.

Nutrien was formed in 2018 through the merger of Potash Corporation of Saskatchewan and Agrium.