Nutrien Ltd. $NTR Stock Position Increased by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada increased its Nutrien stake by 10.5% in the third quarter, bringing its holdings to 6.1 million shares valued at approximately $424.3 million. Institutional investors collectively own 63.1% of Nutrien.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $79.90, above the recent trading price of $71.25.
• Nutrien reported quarterly revenue of $10.81 billion, up 3.6% year over year, but earnings of $2.61 per share fell short of estimates. The company pays a quarterly dividend of $0.55, representing a 3.1% annualized yield.

TD Waterhouse Canada Inc. boosted its position in Nutrien Ltd. (NYSE:NTR - Free Report) by 10.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,096,905 shares of the company's stock after purchasing an additional 578,470 shares during the quarter. Nutrien comprises about 1.1% of TD Waterhouse Canada Inc.'s holdings, making the stock its 23rd largest position. TD Waterhouse Canada Inc. owned 1.28% of Nutrien worth $424,331,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP purchased a new stake in shares of Nutrien during the second quarter worth about $654,081,000. Deutsche Bank AG purchased a new position in shares of Nutrien during the second quarter valued at approximately $588,720,000. Dimensional Fund Advisors LP lifted its stake in shares of Nutrien by 4.3% during the first quarter. Dimensional Fund Advisors LP now owns 5,872,194 shares of the company's stock valued at $443,151,000 after buying an additional 239,946 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in Nutrien during the second quarter worth approximately $375,178,000. Finally, Canada Pension Plan Investment Board acquired a new stake in Nutrien during the second quarter worth approximately $359,318,000. 63.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on NTR shares. set a $85.00 target price on shares of Nutrien and gave the stock an "outperform" rating in a research note on Monday, October 5th. BNP Paribas Exane upgraded Nutrien from a "neutral" rating to an "outperform" rating and set a $80.00 price objective on the stock in a report on Tuesday, July 28th. Scotiabank raised Nutrien from a "sector perform" rating to a "sector outperform" rating and set a $80.00 price objective for the company in a research report on Tuesday, June 30th. Oppenheimer lowered their price objective on Nutrien from $82.00 to $80.00 and set an "outperform" rating for the company in a research report on Thursday, July 23rd. Finally, Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of Nutrien in a research note on Monday, August 10th. Sixteen research 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 MarketBeat, Nutrien has a consensus rating of "Moderate Buy" and an average price target of $79.90.

Nutrien Trading Up 2.4%

Shares of NTR traded up $1.67 during trading hours on Friday, hitting $71.25. The stock had a trading volume of 2,682,514 shares, compared to its average volume of 2,578,794. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.86 and a current ratio of 1.39. The firm has a market cap of $33.92 billion, a P/E ratio of 14.42, a P/E/G ratio of 0.75 and a beta of 0.68. The company's fifty day simple moving average is $73.28 and its 200 day simple moving average is $70.53. 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 issued its earnings results on Wednesday, August 5th. The company reported $2.61 earnings per share for the quarter, missing analysts' consensus estimates of $2.70 by ($0.09). The firm had revenue of $10.81 billion during the quarter, compared to analyst estimates of $10.44 billion. Nutrien had a net margin of 8.44% and a return on equity of 8.88%. Nutrien's revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.65 EPS. Equities research analysts forecast that Nutrien Ltd. will post 4.63 EPS for the current fiscal year.

Nutrien Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Tuesday, September 29th were issued a $0.55 dividend. The ex-dividend date was Tuesday, September 29th. This represents a $2.20 annualized dividend and a yield of 3.1%. Nutrien's dividend payout ratio (DPR) is presently 44.53%.

About Nutrien

Nutrien Ltd. is a Canada-based provider of crop inputs, services and solutions for agricultural producers. The company produces and distributes potash, nitrogen and phosphate products, which are used to support crop nutrition and agricultural productivity. Its product portfolio also includes crop protection products, seed, farm supplies and other agronomic inputs.

Nutrien serves farmers through a broad retail network operating primarily across North and South America, Australia and other international markets.

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