Canada Pension Plan Investment Board Purchases 1,284,181 Shares of Nutrien Ltd. $NTR

Key Points

• The Canada Pension Plan Investment Board increased its stake in Nutrien Ltd. by 17.1% during Q1, owning approximately 1.80% of the company valued at $436.1 million after acquiring over 1.2 million shares.
• Nutrien reported $2.65 earnings per share for the latest quarter, exceeding expectations, while its quarterly revenue reached $10.30 billion, reflecting a 2.8% increase year-over-year.
• The company announced a quarterly dividend of $0.545 per share, leading to an annualized yield of 3.7%, with the dividend paid to investors on October 17th.

Canada Pension Plan Investment Board increased its stake in Nutrien Ltd. (NYSE:NTR - Free Report) by 17.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,786,309 shares of the company's stock after acquiring an additional 1,284,181 shares during the period. Canada Pension Plan Investment Board owned approximately 1.80% of Nutrien worth $436,137,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nebula Research & Development LLC bought a new stake in Nutrien in the fourth quarter worth about $384,000. Northern Trust Corp raised its stake in Nutrien by 59.3% in the fourth quarter. Northern Trust Corp now owns 356,031 shares of the company's stock worth $15,932,000 after buying an additional 132,601 shares in the last quarter. Aptus Capital Advisors LLC bought a new stake in shares of Nutrien in the 4th quarter valued at about $511,000. American Trust Investment Advisors LLC increased its position in shares of Nutrien by 33.0% during the fourth quarter. American Trust Investment Advisors LLC now owns 14,860 shares of the company's stock worth $665,000 after purchasing an additional 3,690 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Nutrien by 5.9% during the fourth quarter. Bank of America Corp DE now owns 2,685,886 shares of the company's stock valued at $120,193,000 after buying an additional 150,464 shares during the last quarter. Hedge funds and other institutional investors own 63.10% of the company's stock.

Nutrien Price Performance

Shares of NYSE NTR traded down $0.04 during midday trading on Tuesday, reaching $57.59. The company's stock had a trading volume of 2,525,500 shares, compared to its average volume of 2,264,134. The company has a 50 day moving average price of $58.78 and a 200 day moving average price of $56.04. The company has a market cap of $27.99 billion, a price-to-earnings ratio of 20.64, a price-to-earnings-growth ratio of 0.97 and a beta of 0.77. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 0.39. Nutrien Ltd. has a one year low of $43.69 and a one year high of $65.08.

Nutrien (NYSE:NTR - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $2.65 EPS for the quarter, beating analysts' consensus estimates of $2.41 by $0.24. The firm had revenue of $10.30 billion for the quarter, compared to the consensus estimate of $10.40 billion. Nutrien had a net margin of 5.25% and a return on equity of 6.51%. The firm's revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.34 earnings per share. On average, equities research analysts expect that Nutrien Ltd. will post 3.72 EPS for the current year.

Nutrien Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Monday, September 29th will be paid a $0.545 dividend. The ex-dividend date is Monday, September 29th. This represents a $2.18 dividend on an annualized basis and a dividend yield of 3.8%. Nutrien's dividend payout ratio is currently 78.14%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on NTR shares. UBS Group decreased their price objective on Nutrien from $64.00 to $63.00 and set a "neutral" rating for the company in a report on Thursday, August 7th. Raymond James Financial downgraded shares of Nutrien from an "outperform" rating to a "market perform" rating and set a $68.00 price objective for the company. in a report on Tuesday, June 17th. Zacks Research upgraded Nutrien from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 18th. Oppenheimer increased their price objective on shares of Nutrien from $63.00 to $65.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Finally, TD Securities lifted their target price on shares of Nutrien from $70.00 to $72.00 and gave the company a "buy" rating in a report on Monday, August 11th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Nutrien currently has an average rating of "Moderate Buy" and a consensus price target of $62.65.

About Nutrien

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.