Nutrien Ltd. $NTR Stake Increased by Canoe Financial LP

Key Points

• Canoe Financial increased its Nutrien stake by 8.7% in the third quarter, adding 185,658 shares to own 2.32 million shares valued at approximately $161.8 million. Institutional investors collectively own 63.1% of Nutrien.
• Wall Street sentiment is broadly positive: 16 analysts rate Nutrien a Buy, five rate it Hold and one rates it Sell, producing a “Moderate Buy” consensus and an average price target of $79.90.
• Nutrien reported quarterly revenue of $10.81 billion, up 3.6% year over year, but earnings of $2.61 per share fell short of the $2.70 consensus estimate. The company also pays a quarterly dividend of $0.55, representing a 3.2% annualized yield.

Canoe Financial LP grew its holdings in Nutrien Ltd. (NYSE:NTR - Free Report) by 8.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,318,096 shares of the company's stock after buying an additional 185,658 shares during the quarter. Nutrien makes up 2.0% of Canoe Financial LP's portfolio, making the stock its 19th largest position. Canoe Financial LP owned 0.49% of Nutrien worth $161,819,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in NTR. Evolution Wealth Management Inc. acquired a new position in Nutrien during the 1st quarter worth about $32,000. Global Retirement Partners LLC acquired a new stake in Nutrien in the 2nd quarter valued at about $30,000. Thurston Springer Miller Herd & Titak Inc. increased its position in Nutrien by 1,014.0% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 479 shares of the company's stock valued at $30,000 after acquiring an additional 436 shares in the last quarter. Allied Private Wealth LLC bought a new position in shares of Nutrien in the second quarter worth about $33,000. Finally, BOK Financial Private Wealth Inc. bought a new position in shares of Nutrien in the second quarter worth about $51,000. 63.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NTR has been the topic of a number of research reports. Scotiabank upgraded shares of Nutrien from a "sector perform" rating to a "sector outperform" rating and set a $80.00 target price on the stock in a research report on Tuesday, June 30th. Scotia raised shares of Nutrien from a "sector perform" rating to a "sector outperform" rating and set a $80.00 price target on the stock in a research note on Tuesday, June 30th. set a $85.00 price target on shares of Nutrien and gave the company an "outperform" rating in a report on Monday, October 5th. Jefferies Financial Group restated a "hold" rating and issued a $71.00 price objective on shares of Nutrien in a research report on Monday, October 12th. Finally, Oppenheimer dropped their price objective on shares of Nutrien from $82.00 to $80.00 and set an "outperform" rating for the company in a research report on Thursday, July 23rd. Sixteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Nutrien currently has an average rating of "Moderate Buy" and an average target price of $79.90.

Nutrien Price Performance

Shares of NTR stock opened at $68.08 on Thursday. The stock has a 50-day moving average price of $73.40 and a 200 day moving average price of $70.36. 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 firm has a market cap of $32.42 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 0.75 and a beta of 0.68. Nutrien Ltd. has a 12 month low of $53.03 and a 12 month high of $85.36.

Nutrien (NYSE:NTR - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $2.61 earnings per share for the quarter, missing the consensus estimate of $2.70 by ($0.09). The firm 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 business's revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.65 earnings per share. Research analysts expect that Nutrien Ltd. will post 4.63 EPS for the current year.

Nutrien Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Tuesday, September 29th were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 3.2%. The ex-dividend date was Tuesday, September 29th. Nutrien's dividend payout ratio is currently 44.53%.

Nutrien Company Profile

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