Canada Pension Plan Investment Board Purchases New Position in Nutrien Ltd. $NTR

Canada Pension Plan Investment Board purchased a new position in Nutrien Ltd. (NYSE:NTR) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,709,156 shares of the company’s stock, valued at approximately $359,318,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Montag A & Associates Inc. boosted its position in Nutrien by 310.7% during the 4th quarter. Montag A & Associates Inc. now owns 423 shares of the company’s stock valued at $26,000 after acquiring an additional 320 shares in the last quarter. Evolution Wealth Management Inc. purchased a new position in shares of Nutrien in the 1st quarter valued at approximately $32,000. Global Retirement Partners LLC purchased a new position in shares of Nutrien in the 2nd quarter valued at approximately $30,000. Thurston Springer Miller Herd & Titak Inc. boosted 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. Finally, Allied Private Wealth LLC bought a new stake in shares of Nutrien during the second quarter valued at approximately $33,000. 63.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Oppenheimer decreased their price objective on Nutrien from $82.00 to $80.00 and set an “outperform” rating for the company in a report on Thursday, July 23rd. Mizuho dropped their target price on shares of Nutrien from $77.00 to $75.00 and set a “neutral” rating on the stock in a report on Tuesday, July 14th. JPMorgan Chase & Co. upped their target price on shares of Nutrien from $78.00 to $80.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Scotiabank upgraded shares of Nutrien from a “sector perform” rating to a “sector outperform” rating and set a $80.00 price target for the company in a research note on Tuesday, June 30th. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Nutrien in a research report on Monday, August 10th. Seventeen equities research 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $81.58.

Nutrien Stock Performance

Nutrien stock opened at $72.81 on Wednesday. Nutrien Ltd. has a twelve month low of $53.03 and a twelve month high of $85.36. The company has a quick ratio of 0.86, a current ratio of 1.39 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $34.83 billion, a P/E ratio of 14.74, a PEG ratio of 0.75 and a beta of 0.61. The stock’s 50 day moving average is $66.73 and its 200 day moving average is $70.47.

Nutrien (NYSE:NTR) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $2.61 earnings per share (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 company had revenue of $10.81 billion for the quarter, compared to analysts’ expectations of $10.44 billion. During the same quarter in the previous year, the firm posted $2.65 EPS. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. On average, equities research analysts predict that Nutrien Ltd. will post 4.95 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. Stockholders of record on Tuesday, September 29th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 29th. Nutrien’s payout ratio is currently 44.53%.

About Nutrien

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.