CORDA Investment Management LLC. Makes New $33.21 Million Investment in Nutrien Ltd. $NTR

Key Points

• CORDA Investment Management acquired 527,543 Nutrien shares worth approximately $33.21 million, making up about 2% of its portfolio and representing a 0.11% stake in the fertilizer company.
• Analysts remain broadly bullish: 17 rate Nutrien a Buy, with a “Moderate Buy” consensus and an average price target of $81.58 versus the stock’s recent price of $68.26.
• Nutrien reported quarterly revenue of $10.81 billion, up 3.6% year over year, but missed EPS expectations. The company also declared a quarterly dividend of $0.55 per share, equivalent to a 3.2% annualized yield.

CORDA Investment Management LLC. purchased a new stake in Nutrien Ltd. (NYSE:NTR - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 527,543 shares of the company's stock, valued at approximately $33,209,000. Nutrien accounts for about 2.0% of CORDA Investment Management LLC.'s holdings, making the stock its 24th biggest holding. CORDA Investment Management LLC. owned 0.11% of Nutrien as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of NTR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Nutrien by 65.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,224 shares of the company's stock worth $1,253,000 after acquiring an additional 9,950 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of Nutrien by 6.2% during the first quarter. NewEdge Advisors LLC now owns 6,907 shares of the company's stock valued at $343,000 after purchasing an additional 404 shares during the period. Focus Partners Wealth bought a new position in shares of Nutrien during the 1st quarter worth about $516,000. Acadian Asset Management LLC acquired a new stake in shares of Nutrien in the 1st quarter valued at about $54,000. Finally, Prudential Financial Inc. bought a new stake in Nutrien in the 2nd quarter valued at about $203,000. 63.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NTR. TD Securities reiterated a "buy" rating on shares of Nutrien in a report on Wednesday, May 6th. BNP Paribas Exane upgraded Nutrien from a "neutral" rating to an "outperform" rating and set a $80.00 target price on the stock in a report on Tuesday, July 28th. JPMorgan Chase & Co. lifted their price target on shares of Nutrien from $78.00 to $80.00 and gave the company an "overweight" rating in a research report on Monday, May 11th. National Bank Financial lowered their price objective on shares of Nutrien from $76.00 to $74.00 and set an "outperform" rating on the stock in a report on Monday, August 10th. Finally, Scotiabank raised 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 note on Tuesday, June 30th. Seventeen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $81.58.

Nutrien Stock Up 1.2%

NTR stock opened at $68.26 on Friday. The firm has a market capitalization of $32.65 billion, a PE ratio of 13.82, a P/E/G ratio of 0.68 and a beta of 0.61. The company has a quick ratio of 0.86, a current ratio of 1.39 and a debt-to-equity ratio of 0.36. Nutrien Ltd. has a twelve month low of $53.03 and a twelve month high of $85.36. The stock's 50 day moving average is $65.93 and its 200-day moving average is $70.39.

Nutrien (NYSE:NTR - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $2.61 earnings per share (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 the consensus estimate of $10.44 billion. Nutrien had a return on equity of 8.88% and a net margin of 8.44%.The company's quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the company posted $2.65 EPS. Sell-side analysts expect that Nutrien Ltd. will post 5.01 EPS for the current fiscal year.

Nutrien Dividend Announcement

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 issued a $0.55 dividend. The ex-dividend date is Tuesday, September 29th. This represents a $2.20 annualized dividend and a dividend yield of 3.2%. 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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