BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Boosts Stock Position in Nutrien Ltd. $NTR

Key Points

• British Columbia Investment Management Corp increased its stake in Nutrien Ltd. by 137.4%, now owning 516,627 shares worth approximately $25.64 million.
• Nutrien recently reported $2.65 earnings per share for the quarter, exceeding analysts' expectations, with quarterly revenue of $10.30 billion.
• The company declared a quarterly dividend of $0.545, set to be paid on October 17th, representing an annual yield of 3.8%.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Nutrien Ltd. (NYSE:NTR - Free Report) by 137.4% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 516,627 shares of the company's stock after purchasing an additional 299,053 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.11% of Nutrien worth $25,644,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harbour Investments Inc. raised its stake in Nutrien by 94.8% during the 1st quarter. Harbour Investments Inc. now owns 715 shares of the company's stock worth $35,000 after acquiring an additional 348 shares during the period. Allworth Financial LP raised its stake in Nutrien by 117.1% during the 1st quarter. Allworth Financial LP now owns 938 shares of the company's stock worth $50,000 after acquiring an additional 506 shares during the period. Caitong International Asset Management Co. Ltd raised its stake in Nutrien by 1,074.7% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,022 shares of the company's stock worth $51,000 after acquiring an additional 935 shares during the period. GAMMA Investing LLC raised its stake in Nutrien by 4,866.7% during the 1st quarter. GAMMA Investing LLC now owns 1,043 shares of the company's stock worth $52,000 after acquiring an additional 1,022 shares during the period. Finally, HM Payson & Co. bought a new stake in Nutrien during the 1st quarter worth approximately $65,000. Institutional investors own 63.10% of the company's stock.

Nutrien Trading Up 1.0%

Shares of NYSE:NTR traded up $0.61 on Thursday, hitting $58.78. 3,212,597 shares of the company's stock were exchanged, compared to its average volume of 2,251,801. Nutrien Ltd. has a 12 month low of $43.69 and a 12 month high of $65.08. The stock has a market capitalization of $28.57 billion, a price-to-earnings ratio of 21.07, a price-to-earnings-growth ratio of 0.99 and a beta of 0.81. The business's 50 day simple moving average is $58.97 and its two-hundred day simple moving average is $55.82. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.33 and a quick ratio of 0.85.

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 the consensus estimate of $2.41 by $0.24. Nutrien had a return on equity of 6.51% and a net margin of 5.25%.The business had revenue of $10.30 billion during the quarter, compared to the consensus estimate of $10.40 billion. During the same period last year, the company earned $2.34 earnings per share. The business's revenue for the quarter was up 2.8% compared to the same quarter last year. Analysts anticipate that Nutrien Ltd. will post 3.72 EPS for the current fiscal year.

Nutrien Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Monday, September 29th will be issued a $0.545 dividend. This represents a $2.18 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Monday, September 29th. Nutrien's payout ratio is presently 78.14%.

Wall Street Analyst Weigh In

NTR has been the subject of a number of research analyst reports. Oppenheimer increased their price objective on shares of Nutrien from $63.00 to $65.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Wall Street Zen raised shares of Nutrien from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Nutrien in a report on Monday, July 14th. Jefferies Financial Group reaffirmed a "hold" rating and set a $66.00 price objective (up from $63.00) on shares of Nutrien in a report on Friday, July 11th. Finally, Scotiabank cut their target price on shares of Nutrien from $62.00 to $60.00 and set a "sector perform" rating for the company in a report on Monday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $62.65.

Nutrien Company 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.