Connor Clark & Lunn Investment Management Ltd. Acquires 239,234 Shares of Nutrien Ltd. (NYSE:NTR)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Nutrien Ltd. by 25.4%, now owning approximately 1.18 million shares valued at $58.69 million.
• Institutional investors collectively own 63.10% of Nutrien's stock, with significant increases from firms like Vanguard Group and Allianz Asset Management.
• Nutrien recently declared a quarterly dividend of $0.545, representing an annualized dividend yield of 3.9%, set to be paid on October 17.

Connor Clark & Lunn Investment Management Ltd. increased its position in Nutrien Ltd. (NYSE:NTR - Free Report) by 25.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 1,182,421 shares of the company's stock after purchasing an additional 239,234 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.24% of Nutrien worth $58,693,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in NTR. APG Asset Management N.V. lifted its stake in shares of Nutrien by 303.9% during the 4th quarter. APG Asset Management N.V. now owns 336,305 shares of the company's stock worth $14,525,000 after purchasing an additional 253,037 shares during the period. Zuckerman Investment Group LLC purchased a new position in Nutrien in the fourth quarter valued at about $176,000. Kopernik Global Investors LLC purchased a new position in Nutrien in the fourth quarter valued at about $3,632,000. WealthTrust Axiom LLC raised its position in Nutrien by 2.1% in the fourth quarter. WealthTrust Axiom LLC now owns 113,827 shares of the company's stock valued at $5,094,000 after purchasing an additional 2,301 shares during the period. Finally, Barclays PLC raised its position in Nutrien by 192.7% in the fourth quarter. Barclays PLC now owns 411,056 shares of the company's stock valued at $18,395,000 after purchasing an additional 854,543 shares during the period. 63.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NTR. Berenberg Bank raised their target price on Nutrien from $54.00 to $59.00 and gave the company a "buy" rating in a research note on Tuesday, April 15th. Royal Bank Of Canada reiterated an "outperform" rating on shares of Nutrien in a research note on Monday, July 14th. Morgan Stanley lifted their target price on Nutrien from $60.00 to $65.00 and gave the company an "equal weight" rating in a research note on Thursday, June 26th. Barclays lifted their price target on Nutrien from $61.00 to $64.00 and gave the company an "equal weight" rating in a report on Monday, July 7th. Finally, Wall Street Zen raised Nutrien from a "hold" rating to a "strong-buy" rating in a report on Saturday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $62.65.

Nutrien Trading Up 1.4%

NTR traded up $0.81 during trading on Wednesday, reaching $56.86. 880,589 shares of the company's stock were exchanged, compared to its average volume of 2,284,214. The stock has a market capitalization of $27.68 billion, a PE ratio of 20.36, a price-to-earnings-growth ratio of 1.03 and a beta of 0.81. Nutrien Ltd. has a one year low of $43.69 and a one year high of $65.08. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 0.39. The firm has a fifty day moving average price of $59.76 and a two-hundred day moving average price of $55.42.

Nutrien (NYSE:NTR - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $2.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.41 by $0.24. The company 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%. Nutrien's quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.34 EPS. As a group, equities research analysts forecast that Nutrien Ltd. will post 3.72 earnings per share for the current fiscal year.

Nutrien Dividend Announcement

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

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.