Bank of New York Mellon Corp Acquires Shares of 1,379,599 Nutrien Ltd. $NTR

Key Points

• Bank of New York Mellon acquired 1,379,599 Nutrien shares worth approximately $86.8 million, giving it a 0.29% stake. Institutional investors collectively own 63.10% of Nutrien.
• Analysts maintain a generally positive outlook, with 17 Buy, three Hold and one Sell rating. Nutrien has a consensus “Moderate Buy” rating and an average price target of $81.58.
• Nutrien reported quarterly revenue of $10.81 billion, up 3.6% year over year, but its $2.61 EPS missed estimates. The company also declared a $0.55 quarterly dividend, equivalent to a 3.0% annual yield.

Bank of New York Mellon Corp bought a new position in shares of Nutrien Ltd. (NYSE:NTR - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,379,599 shares of the company's stock, valued at approximately $86,846,000. Bank of New York Mellon Corp owned 0.29% of Nutrien as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in NTR. Wellington Management Group LLP raised its stake in shares of Nutrien by 440.2% in the fourth quarter. Wellington Management Group LLP now owns 16,338,606 shares of the company's stock worth $1,008,713,000 after purchasing an additional 13,313,817 shares during the last quarter. Norges Bank purchased a new stake in shares of Nutrien during the fourth quarter valued at $412,635,000. TD Asset Management Inc increased its holdings in Nutrien by 21.2% in the 4th quarter. TD Asset Management Inc now owns 8,928,534 shares of the company's stock worth $551,821,000 after buying an additional 1,559,673 shares in the last quarter. DJE Kapital AG increased its holdings in Nutrien by 1,373.6% in the 1st quarter. DJE Kapital AG now owns 1,534,869 shares of the company's stock worth $116,111,000 after buying an additional 1,430,708 shares in the last quarter. Finally, Canoe Financial LP purchased a new position in Nutrien in the 1st quarter worth about $99,603,000. Institutional investors own 63.10% of the company's stock.

Analysts Set New Price Targets

NTR has been the topic of several research analyst reports. National Bank Financial lowered their target price on shares of Nutrien from $76.00 to $74.00 and set an "outperform" rating on the stock in a research note on Monday, August 10th. Weiss Ratings upgraded shares of Nutrien from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, August 6th. Scotia 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 report on Tuesday, June 30th. Scotiabank upgraded shares of Nutrien from a "sector perform" rating to a "sector outperform" rating and set a $80.00 price objective on the stock in a research report on Tuesday, June 30th. Finally, Mizuho dropped their target price on shares of Nutrien from $77.00 to $75.00 and set a "neutral" rating on the stock in a report on Tuesday, July 14th. Seventeen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Nutrien presently has a consensus rating of "Moderate Buy" and an average target price of $81.58.

Nutrien Trading Down 2.0%

Shares of NYSE:NTR opened at $72.81 on Wednesday. The stock has a market capitalization of $34.83 billion, a price-to-earnings ratio of 14.74, a PEG ratio of 0.75 and a beta of 0.61. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.86 and a current ratio of 1.39. The stock's 50-day simple moving average is $66.73 and its two-hundred day simple moving average is $70.47. Nutrien Ltd. has a 52-week low of $53.03 and a 52-week high of $85.36.

Nutrien (NYSE:NTR - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $2.61 EPS for the quarter, missing the consensus estimate of $2.70 by ($0.09). Nutrien had a net margin of 8.44% and a return on equity of 8.88%. 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 company earned $2.65 EPS. Nutrien's revenue for the quarter was up 3.6% compared to the same quarter last year. Analysts expect that Nutrien Ltd. will post 4.95 EPS for the current year.

Nutrien Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Tuesday, September 29th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 29th. Nutrien's dividend payout ratio is currently 44.53%.

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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