270,000 Shares in Nutrien Ltd. $NTR Purchased by Adage Capital Partners GP L.L.C.

Key Points

• Adage Capital Partners has invested approximately $13.41 million to acquire 270,000 shares of Nutrien Ltd. during the 1st quarter, representing 0.06% of the company's total stock.
• The company announced a quarterly dividend of $0.545, set to be paid on October 17th, translating to an annualized yield of 3.9%.
• Nutrien reported earnings of $2.65 per share for the last quarter, exceeding expectations, with a revenue of $10.30 billion, slightly below the forecast of $10.40 billion.

Adage Capital Partners GP L.L.C. acquired a new stake in shares of Nutrien Ltd. (NYSE:NTR - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 270,000 shares of the company's stock, valued at approximately $13,411,000. Adage Capital Partners GP L.L.C. owned approximately 0.06% of Nutrien as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Harbour Investments Inc. boosted its holdings in shares of Nutrien by 94.8% in the 1st quarter. Harbour Investments Inc. now owns 715 shares of the company's stock worth $35,000 after purchasing an additional 348 shares during the period. Allworth Financial LP grew its position in Nutrien by 117.1% during the first quarter. Allworth Financial LP now owns 938 shares of the company's stock valued at $50,000 after buying an additional 506 shares during the period. Caitong International Asset Management Co. Ltd lifted its position in shares of Nutrien by 1,074.7% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,022 shares of the company's stock valued at $51,000 after acquiring an additional 935 shares in the last quarter. GAMMA Investing LLC raised its holdings 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 worth $52,000 after acquiring an additional 1,022 shares during the period. Finally, HM Payson & Co. purchased a new stake in Nutrien in the first quarter valued at approximately $65,000. 63.10% of the stock is currently owned by institutional investors.

Nutrien Stock Down 0.5%

Shares of NTR traded down $0.28 on Thursday, hitting $57.13. The company's stock had a trading volume of 2,922,391 shares, compared to its average volume of 2,080,312. The firm has a market capitalization of $27.72 billion, a price-to-earnings ratio of 20.48, a P/E/G ratio of 0.96 and a beta of 0.77. The firm's fifty day moving average price is $58.48 and its 200-day moving average price is $56.25. 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 Ltd. has a fifty-two week low of $43.69 and a fifty-two week high of $65.08.

Nutrien (NYSE:NTR - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $2.65 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 business had revenue of $10.30 billion for the quarter, compared to analyst estimates of $10.40 billion. During the same period last year, the firm earned $2.34 earnings per share. Nutrien's revenue for the quarter was up 2.8% compared to the same quarter last year. On average, equities research analysts expect that Nutrien Ltd. will post 3.72 EPS for the current year.

Nutrien Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Monday, September 29th will be paid a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Monday, September 29th. Nutrien's payout ratio is presently 78.14%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. National Bank Financial started coverage on shares of Nutrien in a research report on Friday, September 5th. They issued a "sector perform" rating for the company. Barclays increased their target price on Nutrien from $61.00 to $64.00 and gave the stock an "equal weight" rating in a research report on Monday, July 7th. Morgan Stanley raised their price target on shares of Nutrien from $60.00 to $65.00 and gave the company an "equal weight" rating in a report on Thursday, June 26th. Zacks Research raised Nutrien from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 18th. Finally, Wall Street Zen downgraded Nutrien from a "strong-buy" rating to a "buy" rating in a report on Friday, September 5th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $62.39.

Nutrien 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.