BI Asset Management Fondsmaeglerselskab A S Boosts Stock Position in Nutrien Ltd. $NTR

Key Points

• BI Asset Management Fondsmaeglerselskab A S increased its stake in Nutrien Ltd. by 18% during the first quarter, acquiring 29,363 additional shares, bringing their total holdings to 192,144 shares valued at approximately $9.54 million.
• Nutrien reported an EPS of $2.65 for the last quarter, surpassing analysts' expectations by $0.24, while the company's revenue was $10.30 billion, slightly below expectations.
• The company declared a quarterly dividend of $0.545 per share, with a total annualized dividend yield of 3.8% and a dividend payout ratio of 78.14%.

BI Asset Management Fondsmaeglerselskab A S boosted its position in Nutrien Ltd. (NYSE:NTR - Free Report) by 18.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 192,144 shares of the company's stock after purchasing an additional 29,363 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Nutrien were worth $9,544,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Harbour Investments Inc. increased its holdings in shares of Nutrien by 94.8% during the first quarter. Harbour Investments Inc. now owns 715 shares of the company's stock valued at $35,000 after acquiring an additional 348 shares in the last quarter. Allworth Financial LP increased its holdings in shares of Nutrien by 117.1% during the first quarter. Allworth Financial LP now owns 938 shares of the company's stock valued at $50,000 after acquiring an additional 506 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in shares of Nutrien by 1,074.7% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,022 shares of the company's stock valued at $51,000 after acquiring an additional 935 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Nutrien by 4,866.7% during the first quarter. GAMMA Investing LLC now owns 1,043 shares of the company's stock valued at $52,000 after acquiring an additional 1,022 shares in the last quarter. Finally, HM Payson & Co. bought a new position in shares of Nutrien during the first quarter valued at $65,000. 63.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on NTR shares. Zacks Research upgraded Nutrien from a "hold" rating to a "strong-buy" rating in a report on Monday. TD Securities raised their price target on Nutrien from $70.00 to $72.00 and gave the company a "buy" rating in a report on Monday, August 11th. Morgan Stanley raised their price target on Nutrien from $60.00 to $65.00 and gave the company an "equal weight" rating in a report on Thursday, June 26th. Royal Bank Of Canada reiterated an "outperform" rating on shares of Nutrien in a report on Monday, July 14th. Finally, Jefferies Financial Group reiterated a "hold" rating and issued a $66.00 price objective (up from $63.00) on shares of Nutrien in a report on Friday, July 11th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $62.65.

Nutrien Stock Performance

NYSE:NTR traded up $0.2030 on Friday, hitting $57.8130. The stock had a trading volume of 1,313,972 shares, compared to its average volume of 2,014,880. The stock has a market cap of $28.10 billion, a price-to-earnings ratio of 20.72, a price-to-earnings-growth ratio of 0.99 and a beta of 0.81. The company has a quick ratio of 0.85, a current ratio of 1.33 and a debt-to-equity ratio of 0.39. The business's 50-day simple moving average is $59.21 and its two-hundred day simple moving average is $55.67. Nutrien Ltd. has a 52-week low of $43.69 and a 52-week high of $65.08.

Nutrien (NYSE:NTR - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.24. The business had revenue of $10.30 billion for the quarter, compared to analysts' expectations of $10.40 billion. Nutrien had a return on equity of 6.51% and a net margin of 5.25%.The business's revenue for the quarter was up 2.8% on a year-over-year basis. During the same period last year, the firm posted $2.34 earnings per share. As a group, research analysts predict that Nutrien Ltd. will post 3.72 earnings per share for the current year.

Nutrien Dividend Announcement

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

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.