Shell Asset Management Co. Grows Position in Nutrien Ltd. $NTR

Shell Asset Management Co. grew its stake in Nutrien Ltd. (NYSE:NTR) by 44.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 48,155 shares of the company’s stock after buying an additional 14,842 shares during the quarter. Shell Asset Management Co.’s holdings in Nutrien were worth $2,800,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Harbour Investments Inc. lifted its position in shares of Nutrien by 94.8% during the 1st quarter. Harbour Investments Inc. now owns 715 shares of the company’s stock valued at $35,000 after buying an additional 348 shares in the last quarter. Allworth Financial LP lifted its position in shares of Nutrien by 117.1% during the 1st quarter. Allworth Financial LP now owns 938 shares of the company’s stock valued at $50,000 after buying an additional 506 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of Nutrien by 1,074.7% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,022 shares of the company’s stock valued at $51,000 after buying an additional 935 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Nutrien by 4,866.7% during the 1st quarter. GAMMA Investing LLC now owns 1,043 shares of the company’s stock valued at $52,000 after buying an additional 1,022 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new position in shares of Nutrien during the 1st quarter valued at approximately $54,000. Hedge funds and other institutional investors own 63.10% of the company’s stock.

Nutrien Stock Up 0.4%

Shares of NTR opened at $60.64 on Wednesday. Nutrien Ltd. has a 52-week low of $43.69 and a 52-week high of $65.08. The company has a market capitalization of $29.42 billion, a PE ratio of 21.73, a price-to-earnings-growth ratio of 0.99 and a beta of 0.82. The stock has a fifty day simple moving average of $57.64 and a two-hundred day simple moving average of $57.10. The company has a quick ratio of 0.85, a current ratio of 1.33 and a debt-to-equity ratio of 0.39.

Nutrien (NYSE:NTR) last issued its earnings results on Wednesday, August 6th. The company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.41 by $0.24. Nutrien had a return on equity of 6.51% and a net margin of 5.25%.The business had revenue of $10.30 billion during the quarter, compared to the consensus estimate of $10.40 billion. During the same period last year, the company earned $2.34 EPS. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. As a group, equities analysts forecast that Nutrien Ltd. will post 3.72 EPS for the current year.

Nutrien Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Monday, September 29th will be paid a $0.545 dividend. The ex-dividend date of this dividend is Monday, September 29th. This represents a $2.18 dividend on an annualized basis and a dividend yield of 3.6%. Nutrien’s dividend payout ratio (DPR) is 78.14%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. UBS Group decreased their target price on Nutrien from $64.00 to $63.00 and set a “neutral” rating on the stock in a research report on Thursday, August 7th. Wall Street Zen lowered Nutrien from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 5th. Wells Fargo & Company increased their price objective on Nutrien from $59.00 to $62.00 and gave the company an “equal weight” rating in a research note on Thursday, July 17th. National Bank Financial initiated coverage on Nutrien in a report on Friday, September 5th. They issued a “sector perform” rating on the stock. Finally, Scotiabank decreased their price objective on Nutrien from $62.00 to $60.00 and set a “sector perform” rating on the stock in a report on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $62.39.

About Nutrien

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.