Nutrien Ltd. $NTR Shares Bought by ARGA Investment Management LP

Key Points

• ARGA Investment Management LP increased its stake in Nutrien Ltd. by 1.3%, now holding approximately 6.59 million shares, which constitutes about 10.5% of its portfolio.
• Nutrien recently reported quarterly earnings of $2.65 per share, exceeding analysts' expectations, and had a 2.8% year-over-year revenue growth.
• The company declared a quarterly dividend of $0.545 per share, reflecting an annualized yield of 3.8% and a payout ratio of 78.14%.

ARGA Investment Management LP boosted its position in Nutrien Ltd. (NYSE:NTR - Free Report) by 1.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,592,381 shares of the company's stock after buying an additional 81,537 shares during the period. Nutrien makes up approximately 10.5% of ARGA Investment Management LP's portfolio, making the stock its 3rd biggest position. ARGA Investment Management LP owned approximately 1.35% of Nutrien worth $384,064,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Nutrien by 184.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,243 shares of the company's stock valued at $608,000 after acquiring an additional 7,934 shares in the last quarter. Intech Investment Management LLC grew its position in Nutrien by 284.0% in the 1st quarter. Intech Investment Management LLC now owns 69,128 shares of the company's stock valued at $3,430,000 after purchasing an additional 51,126 shares during the period. Covea Finance increased its stake in Nutrien by 16.5% during the 2nd quarter. Covea Finance now owns 73,500 shares of the company's stock valued at $4,265,000 after purchasing an additional 10,400 shares in the last quarter. Belpointe Asset Management LLC acquired a new position in Nutrien during the first quarter worth $311,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Nutrien by 1.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 736,996 shares of the company's stock worth $36,607,000 after buying an additional 7,194 shares during the last quarter. Institutional investors own 63.10% of the company's stock.

Nutrien Trading Up 1.8%

Shares of Nutrien stock opened at $57.85 on Friday. Nutrien Ltd. has a 1 year low of $43.69 and a 1 year high of $65.08. The firm has a market cap of $28.07 billion, a PE ratio of 20.74, a P/E/G ratio of 0.93 and a beta of 0.82. The stock has a fifty day moving average price of $57.82 and a 200-day moving average price of $57.74. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.33 and a quick ratio of 0.85.

Nutrien (NYSE:NTR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $2.65 earnings per share for the quarter, topping 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%. The firm's quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.34 EPS. Equities research analysts anticipate that Nutrien Ltd. will post 3.72 EPS for the current year.

Nutrien Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Monday, September 29th were given a dividend of $0.545 per share. This represents a $2.18 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Monday, September 29th. Nutrien's dividend payout ratio is currently 78.14%.

Wall Street Analysts Forecast Growth

NTR has been the subject of several recent research reports. Oppenheimer reissued an "outperform" rating on shares of Nutrien in a research report on Wednesday. Morgan Stanley boosted their price objective on Nutrien from $60.00 to $65.00 and gave the stock an "equal weight" rating in a report on Thursday, June 26th. Wall Street Zen lowered Nutrien from a "strong-buy" rating to a "buy" rating in a report on Friday, September 5th. Barclays lifted their target price on Nutrien from $61.00 to $64.00 and gave the company an "equal weight" rating in a research report on Monday, July 7th. Finally, Bank of America reissued a "neutral" rating and issued a $67.00 price target on shares of Nutrien in a research report on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $62.78.

Nutrien 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.

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