Alberta Investment Management Corp Acquires New Position in Nutrien Ltd. $NTR

Key Points

• Alberta Investment Management Corp acquired 639,061 Nutrien shares worth approximately $40.2 million, giving it a 0.13% stake. Institutional investors collectively own 63.1% of Nutrien.
• Nutrien reported quarterly revenue of $10.81 billion, up 3.6% year over year, but earnings per share of $2.61 fell short of analysts’ $2.70 estimate.
• Nutrien declared a quarterly dividend of $0.55 per share, equal to a 3.2% annualized yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $81.58, versus a recent share price of $68.26.

Alberta Investment Management Corp acquired a new stake in shares of Nutrien Ltd. (NYSE:NTR - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 639,061 shares of the company's stock, valued at approximately $40,221,000. Alberta Investment Management Corp owned approximately 0.13% of Nutrien at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. TD Waterhouse Canada Inc. raised its stake in Nutrien by 4.2% during the fourth quarter. TD Waterhouse Canada Inc. now owns 2,359,022 shares of the company's stock worth $145,257,000 after acquiring an additional 94,510 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Nutrien by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 22,463,277 shares of the company's stock valued at $1,386,546,000 after purchasing an additional 479,834 shares in the last quarter. CORDA Investment Management LLC. acquired a new stake in shares of Nutrien in the 2nd quarter valued at approximately $33,209,000. Bryn Mawr Trust Advisors LLC bought a new stake in shares of Nutrien during the 2nd quarter valued at approximately $8,363,000. Finally, Geode Capital Management LLC grew its holdings in shares of Nutrien by 6.8% during the 4th quarter. Geode Capital Management LLC now owns 4,833,284 shares of the company's stock valued at $304,217,000 after purchasing an additional 309,025 shares during the last quarter. 63.10% of the stock is currently owned by institutional investors.

Nutrien Stock Up 0.0%

Shares of Nutrien stock opened at $68.26 on Monday. The stock's 50-day moving average is $65.93 and its 200 day moving average is $70.39. Nutrien Ltd. has a one year low of $53.03 and a one year high of $85.36. The firm has a market cap of $32.65 billion, a price-to-earnings ratio of 13.82, a PEG ratio of 0.68 and a beta of 0.61. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.39 and a quick ratio of 0.86.

Nutrien (NYSE:NTR - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $2.61 earnings per share for the quarter, missing analysts' consensus estimates of $2.70 by ($0.09). The business had revenue of $10.81 billion during the quarter, compared to the consensus estimate of $10.44 billion. Nutrien had a return on equity of 8.88% and a net margin of 8.44%.The company's revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.65 earnings per share. Equities research analysts anticipate that Nutrien Ltd. will post 5.01 EPS for the current year.

Nutrien Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Tuesday, September 29th. Nutrien's payout ratio is presently 44.53%.

Analyst Ratings Changes

Several equities analysts recently commented on NTR shares. Scotiabank raised shares of Nutrien from a "sector perform" rating to a "sector outperform" rating and set a $80.00 price objective for the company in a research note on Tuesday, June 30th. Scotia raised shares of Nutrien from a "sector perform" rating to a "sector outperform" rating and set a $80.00 target price on the stock in a research note on Tuesday, June 30th. Berenberg Bank set a $65.00 price target on shares of Nutrien and gave the stock a "hold" rating in a report on Wednesday, June 10th. Mizuho dropped their price target on Nutrien from $77.00 to $75.00 and set a "neutral" rating for the company in a research note on Tuesday, July 14th. Finally, Weiss Ratings upgraded Nutrien from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, August 6th. Seventeen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $81.58.

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.

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