592,028 Shares in Nutrien Ltd. $NTR Purchased by Lincluden Management Ltd.

Key Points

• Lincluden Management Ltd. purchased 592,028 shares of Nutrien Ltd. valued at approximately $34.47 million, representing 3.8% of its portfolio, making it the 8th largest position.
• Nutrien reported $2.65 earnings per share for the recent quarter, exceeding analysts' expectations of $2.41, with a net margin of 5.25% and year-over-year revenue growth of 2.8%.
• The company announced a quarterly dividend of $0.545 per share, set to be paid on October 17th, which corresponds to an annualized yield of 3.6%.

Lincluden Management Ltd. purchased a new stake in shares of Nutrien Ltd. (NYSE:NTR - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 592,028 shares of the company's stock, valued at approximately $34,466,000. Nutrien comprises 3.8% of Lincluden Management Ltd.'s portfolio, making the stock its 8th largest position. Lincluden Management Ltd. owned approximately 0.12% of Nutrien as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. U S Global Investors Inc. increased its position in shares of Nutrien by 42.9% during the second quarter. U S Global Investors Inc. now owns 25,000 shares of the company's stock valued at $1,456,000 after acquiring an additional 7,500 shares during the last quarter. Louisbourg Investments Inc. increased its position in shares of Nutrien by 11.4% during the second quarter. Louisbourg Investments Inc. now owns 117,973 shares of the company's stock valued at $6,862,000 after acquiring an additional 12,067 shares during the last quarter. Trust Co. of Toledo NA OH acquired a new stake in shares of Nutrien during the second quarter valued at about $49,000. Blue Trust Inc. increased its position in shares of Nutrien by 18.8% during the second quarter. Blue Trust Inc. now owns 7,218 shares of the company's stock valued at $420,000 after acquiring an additional 1,140 shares during the last quarter. Finally, Cyndeo Wealth Partners LLC increased its position in shares of Nutrien by 4.3% during the second quarter. Cyndeo Wealth Partners LLC now owns 148,766 shares of the company's stock valued at $8,664,000 after acquiring an additional 6,174 shares during the last quarter. 63.10% of the stock is currently owned by institutional investors and hedge funds.

Nutrien Trading Down 2.0%

NYSE NTR opened at $59.89 on Friday. Nutrien Ltd. has a one year low of $43.69 and a one year high of $65.08. The firm has a 50 day simple moving average of $57.72 and a 200-day simple moving average of $57.30. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.85 and a current ratio of 1.33. The firm has a market cap of $29.06 billion, a price-to-earnings ratio of 21.46, a PEG ratio of 0.97 and a beta of 0.82.

Nutrien (NYSE:NTR - Get Free Report) last issued its quarterly 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 net margin of 5.25% and a return on equity of 6.51%. The company had revenue of $10.30 billion during the quarter, compared to the consensus estimate of $10.40 billion. During the same quarter in the previous year, the firm earned $2.34 earnings per share. The firm's quarterly revenue was up 2.8% on a year-over-year basis. Equities research analysts anticipate that Nutrien Ltd. will post 3.72 EPS for the current fiscal year.

Nutrien Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Monday, September 29th will be paid a $0.545 dividend. The ex-dividend date is Monday, September 29th. This represents a $2.18 dividend on an annualized basis and a yield of 3.6%. Nutrien's payout ratio is currently 78.14%.

Analysts Set New Price Targets

NTR has been the subject of a number of recent analyst reports. Wells Fargo & Company lifted their price target on shares of Nutrien from $59.00 to $62.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. Raymond James Financial cut shares of Nutrien from an "outperform" rating to a "market perform" rating and set a $68.00 price target for the company. in a research report on Tuesday, June 17th. Weiss Ratings reissued a "hold (c)" rating on shares of Nutrien in a research note on Wednesday. Barclays raised their price objective on shares of Nutrien from $61.00 to $64.00 and gave the company an "equal weight" rating in a research note on Monday, July 7th. Finally, Scotiabank lowered their price objective on shares of Nutrien from $62.00 to $60.00 and set a "sector perform" rating for the company in a research note on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $62.39.

Nutrien Company Profile

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.

Want to see what other hedge funds are holding NTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nutrien Ltd. (NYSE:NTR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.