Corient Private Wealth LP Makes New Investment in Nutrien Ltd. $NTR

Corient Private Wealth LP purchased a new position in shares of Nutrien Ltd. (NYSE:NTR) in the second quarter, HoldingsChannel.com reports. The firm purchased 146,785 shares of the company’s stock, valued at approximately $2,303,000.

Several other hedge funds have also recently made changes to their positions in the business. Wellington Management Group LLP lifted its stake in shares of Nutrien by 440.2% in the 4th quarter. Wellington Management Group LLP now owns 16,338,606 shares of the company’s stock valued at $1,008,713,000 after purchasing an additional 13,313,817 shares during the period. Deutsche Bank AG bought a new stake in Nutrien in the second quarter worth approximately $588,720,000. Norges Bank acquired a new position in Nutrien in the fourth quarter valued at approximately $412,635,000. The Manufacturers Life Insurance Company acquired a new position in Nutrien in the second quarter valued at approximately $375,178,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of Nutrien during the 2nd quarter worth approximately $359,318,000. 63.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NTR. Morgan Stanley reduced their price objective on shares of Nutrien from $93.00 to $81.00 and set an “overweight” rating for the company in a research report on Tuesday, July 7th. Scotia upgraded shares of Nutrien from a “sector perform” rating to a “sector outperform” rating and set a $80.00 target price on the stock in a research report on Tuesday, June 30th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Nutrien in a research note on Monday, August 10th. BNP Paribas Exane upgraded shares of Nutrien from a “neutral” rating to an “outperform” rating and set a $80.00 price target for the company in a report on Tuesday, July 28th. Finally, National Bank Financial decreased their price target on shares of Nutrien from $76.00 to $74.00 and set an “outperform” rating for the company in a research note on Monday, August 10th. Seventeen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Nutrien currently has an average rating of “Moderate Buy” and a consensus target price of $81.58.

Nutrien Trading Up 3.4%

Shares of Nutrien stock opened at $80.32 on Thursday. The company has a market capitalization of $38.33 billion, a P/E ratio of 16.26, a price-to-earnings-growth ratio of 0.82 and a beta of 0.62. The stock has a fifty day simple moving average of $68.32 and a 200 day simple moving average of $70.70. Nutrien Ltd. has a 12-month low of $53.03 and a 12-month high of $85.36. The company has a current ratio of 1.39, a quick ratio of 0.86 and a debt-to-equity ratio of 0.36.

Nutrien (NYSE:NTR) last released its quarterly earnings results on Wednesday, August 5th. The company reported $2.61 earnings per share 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 for the quarter, compared to analysts’ expectations of $10.44 billion. During the same quarter last year, the firm posted $2.65 earnings per share. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Nutrien Ltd. will post 4.71 earnings per share for the current fiscal year.

Nutrien Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Tuesday, September 29th will be given a dividend of $0.55 per share. The ex-dividend date is Tuesday, September 29th. This represents a $2.20 annualized dividend and a yield of 2.7%. Nutrien’s dividend payout ratio is presently 44.53%.

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.