Amundi Decreases Stake in Nutrien Ltd. $NTR

Key Points

• Amundi cut its Nutrien stake by 4.3% in the second quarter, selling 105,699 shares and retaining 2.36 million shares worth approximately $148.3 million. Institutional investors collectively own 63.1% of Nutrien.
• Analysts remain broadly positive, with 17 Buy ratings, three Holds and one Sell; the stock carries a consensus “Moderate Buy” rating and an $81.58 price target.
• Nutrien’s latest quarterly revenue rose 3.6% year over year to $10.81 billion, though EPS of $2.61 missed estimates. The company declared a quarterly dividend of $0.55 per share, representing a 2.7% annualized yield.

Amundi lessened its position in shares of Nutrien Ltd. (NYSE:NTR - Free Report) by 4.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,355,146 shares of the company's stock after selling 105,699 shares during the period. Amundi owned about 0.49% of Nutrien worth $148,253,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Nutrien by 1,014.0% during the second 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 in the last quarter. Global Retirement Partners LLC acquired a new stake in Nutrien in the second quarter valued at $30,000. Evolution Wealth Management Inc. purchased a new stake in Nutrien during the 1st quarter worth about $32,000. Allied Private Wealth LLC acquired a new position in shares of Nutrien during the 2nd quarter worth about $33,000. Finally, Sfam LLC acquired a new position in shares of Nutrien during the 4th quarter worth about $37,000. 63.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Weiss Ratings raised Nutrien from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, August 6th. Scotia raised Nutrien from a "sector perform" rating to a "sector outperform" rating and set a $80.00 price target for the company in a report on Tuesday, June 30th. Wall Street Zen cut shares of Nutrien from a "buy" rating to a "hold" rating in a report on Saturday, May 16th. BNP Paribas Exane upgraded shares of Nutrien from a "neutral" rating to an "outperform" rating and set a $80.00 price objective for the company in a research report on Tuesday, July 28th. Finally, Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of Nutrien in a report on Monday, August 10th. Seventeen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $81.58.

Nutrien Stock Up 1.6%

NTR stock opened at $80.76 on Wednesday. The company has a market cap of $38.54 billion, a price-to-earnings ratio of 16.35, a price-to-earnings-growth ratio of 0.84 and a beta of 0.62. The company has a fifty day moving average price of $69.81 and a 200 day moving average price of $70.97. 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 Ltd. has a 12 month low of $53.03 and a 12 month high of $85.36.

Nutrien (NYSE:NTR - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $2.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.70 by ($0.09). Nutrien had a return on equity of 8.88% and a net margin of 8.44%.The business had revenue of $10.81 billion for the quarter, compared to analysts' expectations of $10.44 billion. During the same period in the previous year, the business posted $2.65 earnings per share. The company's revenue for the quarter was up 3.6% on a year-over-year basis. Sell-side analysts expect that Nutrien Ltd. will post 4.71 earnings per share for the current year.

Nutrien Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Tuesday, September 29th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $2.20 annualized dividend and a yield of 2.7%. Nutrien's dividend payout ratio is currently 44.53%.

Nutrien Profile

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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