Sumitomo Life Insurance Co. Buys Shares of 28,700 Nutrien Ltd. $NTR

Sumitomo Life Insurance Co. bought a new stake in Nutrien Ltd. (NYSE:NTR) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 28,700 shares of the company’s stock, valued at approximately $1,806,000.

A number of other institutional investors have also recently made changes to their positions in the company. Montag A & Associates Inc. raised its stake in Nutrien by 310.7% in the 4th quarter. Montag A & Associates Inc. now owns 423 shares of the company’s stock valued at $26,000 after purchasing an additional 320 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Nutrien by 1,014.0% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 479 shares of the company’s stock worth $30,000 after purchasing an additional 436 shares during the last quarter. Global Retirement Partners LLC acquired a new stake in Nutrien during the 2nd quarter worth $30,000. Evolution Wealth Management Inc. purchased a new stake in shares of Nutrien during the first quarter worth $32,000. Finally, Allied Private Wealth LLC purchased a new stake in shares of Nutrien during the second quarter worth $33,000. 63.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on NTR shares. BNP Paribas Exane raised shares of Nutrien from a “neutral” rating to an “outperform” rating and set a $80.00 price target on the stock in a research note on Tuesday, July 28th. Oppenheimer dropped their price objective on shares of Nutrien from $82.00 to $80.00 and set an “outperform” rating for the company in a research note on Thursday, July 23rd. Berenberg Bank set a $65.00 price objective on shares of Nutrien and gave the company a “hold” rating in a report on Wednesday, June 10th. JPMorgan Chase & Co. increased their price objective on shares of Nutrien from $78.00 to $80.00 and gave the company an “overweight” rating in a report on Monday, May 11th. Finally, TD Securities reissued a “buy” rating on shares of Nutrien in a research note on Wednesday, May 6th. Seventeen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Nutrien has a consensus rating of “Moderate Buy” and a consensus target price of $81.58.

Nutrien Stock Up 3.1%

Shares of NTR opened at $75.36 on Friday. Nutrien Ltd. has a 52-week low of $53.03 and a 52-week high of $85.36. The company has a market capitalization of $36.05 billion, a PE ratio of 15.26, a price-to-earnings-growth ratio of 0.73 and a beta of 0.61. The stock has a fifty day simple moving average of $66.42 and a two-hundred day simple moving average of $70.42. The company has a quick ratio of 0.86, a current ratio of 1.39 and a debt-to-equity ratio of 0.36.

Nutrien (NYSE:NTR) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $2.61 EPS for the quarter, missing the consensus estimate of $2.70 by ($0.09). The company had revenue of $10.81 billion for the quarter, compared to analysts’ expectations of $10.44 billion. Nutrien had a return on equity of 8.88% and a net margin of 8.44%.The firm’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.65 EPS. As a group, equities analysts forecast that Nutrien Ltd. will post 5.01 EPS for the current year.

Nutrien Dividend Announcement

The company also recently disclosed 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. This represents a $2.20 annualized dividend and a yield of 2.9%. The ex-dividend date is Tuesday, September 29th. Nutrien’s dividend payout ratio (DPR) is presently 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.