Nutrien Ltd. $NTR Shares Acquired by Cidel Asset Management Inc.

Key Points

• Cidel Asset Management increased its Nutrien stake by 1,642.1% in the second quarter, ending with 79,717 shares valued at approximately $5.02 million. Institutional investors collectively own 63.1% of Nutrien’s stock.
• Nutrien shares opened at $80.76, near their 12-month high of $85.36. The company reported quarterly revenue of $10.81 billion, up 3.6% year over year, though earnings of $2.61 per share missed analysts’ $2.70 estimate.
• Nutrien declared a quarterly dividend of $0.55 per share, equivalent to $2.20 annually and a 2.7% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $81.58.

Cidel Asset Management Inc. lifted its stake in shares of Nutrien Ltd. (NYSE:NTR - Free Report) by 1,642.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 79,717 shares of the company's stock after purchasing an additional 75,141 shares during the period. Cidel Asset Management Inc.'s holdings in Nutrien were worth $5,020,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Integrated Wealth Concepts LLC acquired a new position in shares of Nutrien in the 2nd quarter valued at $200,000. NewEdge Advisors LLC increased its stake in Nutrien by 104.1% in the 2nd quarter. NewEdge Advisors LLC now owns 19,008 shares of the company's stock worth $1,197,000 after purchasing an additional 9,693 shares in the last quarter. IFP Advisors Inc raised its holdings in Nutrien by 9.4% during the 2nd quarter. IFP Advisors Inc now owns 67,879 shares of the company's stock worth $4,273,000 after buying an additional 5,808 shares during the period. Baird Financial Group Inc. raised its holdings in Nutrien by 1.4% during the 2nd quarter. Baird Financial Group Inc. now owns 207,478 shares of the company's stock worth $13,061,000 after buying an additional 2,930 shares during the period. Finally, Murphy Pohlad Asset Management LLC lifted its stake in Nutrien by 3.8% during the second quarter. Murphy Pohlad Asset Management LLC now owns 61,505 shares of the company's stock valued at $3,872,000 after buying an additional 2,280 shares in the last quarter. 63.10% of the stock is owned by hedge funds and other institutional investors.

Nutrien Stock Up 1.6%

NTR stock opened at $80.76 on Wednesday. Nutrien Ltd. has a 12-month low of $53.03 and a 12-month high of $85.36. The company has a quick ratio of 0.86, a current ratio of 1.39 and a debt-to-equity ratio of 0.36. The company has a market cap of $38.54 billion, a price-to-earnings ratio of 16.35, a PEG ratio of 0.84 and a beta of 0.62. The company has a 50 day moving average of $69.81 and a two-hundred day moving average of $70.97.

Nutrien (NYSE:NTR - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $2.61 EPS for the quarter, missing analysts' consensus estimates of $2.70 by ($0.09). Nutrien had a net margin of 8.44% and a return on equity of 8.88%. The firm had revenue of $10.81 billion during the quarter, compared to analysts' expectations of $10.44 billion. During the same quarter last year, the firm earned $2.65 EPS. The business's revenue for the quarter was up 3.6% compared to the same quarter last year. On average, equities analysts anticipate that Nutrien Ltd. will post 4.71 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 16th. Investors 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 dividend on an annualized basis and a yield of 2.7%. Nutrien's dividend payout ratio is currently 44.53%.

Wall Street Analysts Forecast Growth

NTR has been the subject of several recent analyst reports. Morgan Stanley decreased their target price on shares of Nutrien from $93.00 to $81.00 and set an "overweight" rating for the company in a report on Tuesday, July 7th. BNP Paribas Exane upgraded shares of Nutrien from a "neutral" rating to an "outperform" rating and set a $80.00 price target for the company in a research report on Tuesday, July 28th. National Bank Financial decreased their price objective on shares of Nutrien from $76.00 to $74.00 and set an "outperform" rating for the company in a research note on Monday, August 10th. Mizuho lowered their price objective on shares of Nutrien from $77.00 to $75.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 14th. Finally, Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of Nutrien in a research note on Monday, August 10th. Seventeen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Nutrien presently has an average rating of "Moderate Buy" and a consensus price target of $81.58.

Nutrien Company 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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