Amundi Raises Stock Holdings in Nutrien Ltd. $NTR

Key Points

• Amundi has increased its stake in Nutrien Ltd. by 3.1% during the first quarter, owning approximately 2,560,012 shares worth about $129.2 million.
• Several institutional investors, including Harbour Investments and Allworth Financial, have also significantly boosted their holdings in Nutrien this quarter, indicating strong institutional interest in the stock.
• Nutrien's stock recently opened at $56.39, and the company reported strong earnings per share of $2.65, exceeding analysts' estimates.

Amundi boosted its stake in Nutrien Ltd. (NYSE:NTR - Free Report) by 3.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,560,012 shares of the company's stock after buying an additional 76,995 shares during the period. Amundi owned approximately 0.52% of Nutrien worth $129,215,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Harbour Investments Inc. raised its holdings in Nutrien by 94.8% in the 1st quarter. Harbour Investments Inc. now owns 715 shares of the company's stock valued at $35,000 after buying an additional 348 shares during the period. Allworth Financial LP increased its stake in Nutrien by 117.1% during the first quarter. Allworth Financial LP now owns 938 shares of the company's stock worth $50,000 after purchasing an additional 506 shares during the period. Caitong International Asset Management Co. Ltd lifted its position in shares of Nutrien by 1,074.7% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,022 shares of the company's stock worth $51,000 after purchasing an additional 935 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Nutrien by 4,866.7% during the first quarter. GAMMA Investing LLC now owns 1,043 shares of the company's stock worth $52,000 after purchasing an additional 1,022 shares in the last quarter. Finally, HM Payson & Co. acquired a new stake in shares of Nutrien during the first quarter worth about $65,000. 63.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on NTR shares. Jefferies Financial Group reissued a "hold" rating and set a $66.00 price target (up previously from $63.00) on shares of Nutrien in a research report on Friday, July 11th. Zacks Research raised shares of Nutrien from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 18th. National Bank Financial started coverage on shares of Nutrien in a research report on Friday. They set a "sector perform" rating on the stock. Morgan Stanley increased their price target on shares of Nutrien from $60.00 to $65.00 and gave the stock an "equal weight" rating in a research report on Thursday, June 26th. Finally, Scotiabank reduced their price target on shares of Nutrien from $62.00 to $60.00 and set a "sector perform" rating on the stock in a research report on Monday, August 11th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $62.72.

Nutrien Stock Down 1.0%

NTR stock opened at $56.39 on Friday. The company's 50 day moving average price is $58.65 and its 200 day moving average price is $56.13. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.85 and a current ratio of 1.33. Nutrien Ltd. has a fifty-two week low of $43.69 and a fifty-two week high of $65.08. The firm has a market capitalization of $27.41 billion, a price-to-earnings ratio of 20.21, a PEG ratio of 0.96 and a beta of 0.77.

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

Nutrien Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Investors 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 3.9%. The ex-dividend date is Monday, September 29th. Nutrien's dividend payout ratio is presently 78.14%.

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.

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