Nutrien Ltd. $NTR Shares Acquired by Engineers Gate Manager LP

Key Points

• Engineers Gate Manager LP increased its Nutrien stake by 665.4% in the second quarter, adding 59,018 shares for a total holding worth approximately $4.27 million. Institutional investors and hedge funds own 63.1% of the company.
• Analyst sentiment remains favorable, with 17 Buy, four Hold and one Sell rating; Nutrien has a consensus rating of “Moderate Buy” and an average price target of $81.15.
• Nutrien reported quarterly EPS of $2.61, below the $2.70 estimate, while revenue rose 3.6% year over year to $10.81 billion. The company declared a quarterly dividend of $0.55 per share, implying a 2.8% annualized yield.

Engineers Gate Manager LP increased its stake in shares of Nutrien Ltd. (NYSE:NTR - Free Report) by 665.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,888 shares of the company's stock after buying an additional 59,018 shares during the quarter. Engineers Gate Manager LP's holdings in Nutrien were worth $4,274,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Evolution Wealth Management Inc. acquired a new position in shares of Nutrien during the first quarter valued at $32,000. Global Retirement Partners LLC bought a new position in shares of Nutrien during the second quarter worth about $30,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Nutrien by 1,014.0% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 479 shares of the company's stock worth $30,000 after acquiring an additional 436 shares during the period. Allied Private Wealth LLC acquired a new stake in shares of Nutrien in the 2nd quarter worth about $33,000. Finally, Sfam LLC bought a new stake in Nutrien in the 4th quarter valued at about $37,000. 63.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NTR. Oppenheimer reduced their target price on shares of Nutrien from $82.00 to $80.00 and set an "outperform" rating for the company in a research note on Thursday, July 23rd. BNP Paribas Exane upgraded Nutrien from a "neutral" rating to an "outperform" rating and set a $80.00 price objective for the company in a research report on Tuesday, July 28th. KeyCorp initiated coverage on Nutrien in a research report on Thursday. They issued a "sector weight" rating and a $73.00 target price on the stock. Wall Street Zen downgraded Nutrien from a "buy" rating to a "hold" rating in a research note on Saturday, May 16th. Finally, Morgan Stanley reduced their price target on Nutrien from $93.00 to $81.00 and set an "overweight" rating for the company in a research report on Tuesday, July 7th. Seventeen analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Nutrien currently has an average rating of "Moderate Buy" and a consensus target price of $81.15.

Nutrien Stock Down 0.3%

NTR stock opened at $78.47 on Friday. Nutrien Ltd. has a 52 week low of $53.03 and a 52 week high of $85.36. The company has a market capitalization of $37.44 billion, a price-to-earnings ratio of 15.88, a price-to-earnings-growth ratio of 0.83 and a beta of 0.62. The firm's 50-day moving average is $70.70 and its two-hundred day moving average is $71.14. The company has a current ratio of 1.39, a quick ratio of 0.86 and a debt-to-equity ratio of 0.36.

Nutrien (NYSE:NTR - Get Free Report) last posted its quarterly earnings data 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). Nutrien had a net margin of 8.44% and a return on equity of 8.88%. The company had revenue of $10.81 billion during the quarter, compared to the consensus estimate of $10.44 billion. During the same quarter last year, the business earned $2.65 earnings per share. The company's revenue was up 3.6% on a year-over-year basis. On average, analysts forecast that Nutrien Ltd. will post 4.71 earnings per share for the current fiscal year.

Nutrien Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Tuesday, September 29th will be given a dividend of $0.55 per share. The ex-dividend date is Tuesday, September 29th. This represents a $2.20 annualized dividend and a dividend yield of 2.8%. Nutrien's dividend payout ratio (DPR) is 44.53%.

About Nutrien

Nutrien Ltd. NYSE: NTR is a global provider of crop inputs and agricultural services. The company produces and distributes essential nutrients, including potash, nitrogen and phosphate products, which farmers use to support crop growth and improve yields.

Through its retail operations, Nutrien supplies farmers with seed, crop protection products, fertilizers and agronomic services. Its retail network also provides farm management recommendations, application services and other solutions designed to help growers manage their operations and use agricultural inputs more efficiently.

Nutrien was formed in 2018 through the merger of Potash Corporation of Saskatchewan and Agrium.

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