BlackRock Inc. Takes $220.94 Million Position in Nutrien Ltd. $NTR

Key Points

• BlackRock acquired 3.51 million Nutrien shares worth approximately $220.9 million in the second quarter, giving it a 0.73% stake. Institutional investors and hedge funds collectively own 63.1% of Nutrien.
• Analysts remain broadly positive, with 17 Buy ratings, three Holds and one Sell rating; the consensus is a “Moderate Buy” with an average price target of $81.58.
• Nutrien reported quarterly EPS of $2.61, below the $2.70 consensus, while revenue reached $10.81 billion and rose 3.6% year over year. The company also declared a $0.55 quarterly dividend, implying a 3.0% annual yield.

BlackRock Inc. acquired a new position in shares of Nutrien Ltd. (NYSE:NTR - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 3,509,808 shares of the company's stock, valued at approximately $220,942,000. BlackRock Inc. owned 0.73% of Nutrien at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Deutsche Bank AG acquired a new position in Nutrien during the second quarter worth approximately $588,720,000. Hikari Power Ltd acquired a new position in shares of Nutrien in the 2nd quarter valued at $9,443,000. AMG National Trust Bank purchased a new stake in shares of Nutrien during the 2nd quarter valued at $465,000. Old West Investment Management LLC purchased a new stake in shares of Nutrien during the 2nd quarter valued at $16,307,000. Finally, Gould Asset Management LLC CA acquired a new stake in shares of Nutrien during the 2nd quarter worth $248,000. 63.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on NTR. Morgan Stanley reduced their target price on Nutrien from $93.00 to $81.00 and set an "overweight" rating on the stock in a report on Tuesday, July 7th. Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of Nutrien in a report on Monday, August 10th. Berenberg Bank set a $65.00 price objective on Nutrien and gave the company a "hold" rating in a research note on Wednesday, June 10th. Barclays decreased their target price on Nutrien from $81.00 to $78.00 and set an "overweight" rating for the company in a report on Monday, August 10th. Finally, JPMorgan Chase & Co. increased their target price on shares of Nutrien from $78.00 to $80.00 and gave the stock an "overweight" rating in a research report on Monday, May 11th. Seventeen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $81.58.

Nutrien Price Performance

Shares of NYSE NTR opened at $73.17 on Friday. Nutrien Ltd. has a 1-year low of $53.03 and a 1-year high of $85.36. The business has a 50-day moving average of $67.12 and a 200-day moving average of $70.54. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.39 and a quick ratio of 0.86. The company has a market capitalization of $35.00 billion, a price-to-earnings ratio of 14.81, a PEG ratio of 0.74 and a beta of 0.61.

Nutrien (NYSE:NTR - Get Free Report) last announced its 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). The company had revenue of $10.81 billion for the quarter, compared to analysts' expectations of $10.44 billion. Nutrien had a net margin of 8.44% and a return on equity of 8.88%. The business's quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.65 earnings per share. On average, equities analysts anticipate that Nutrien Ltd. will post 4.95 EPS for the current fiscal year.

Nutrien Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Tuesday, September 29th will be paid a $0.55 dividend. The ex-dividend date is Tuesday, September 29th. This represents a $2.20 annualized dividend and a dividend yield of 3.0%. Nutrien's dividend payout ratio is 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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