Nuveen LLC Makes New Investment in Nutrien Ltd. (NYSE:NTR)

Key Points

• Nuveen LLC has acquired a new position in Nutrien Ltd. by purchasing 1,280,471 shares valued at approximately $63.5 million, which represents about 0.26% ownership in the company.
• Nutrien recently reported quarterly earnings of $2.65 per share, exceeding expectations, and announced a quarterly dividend payment of $0.545, yielding 3.8% annually.
• Analysts have set an average price target of $62.65 for Nutrien, with ratings ranging from a sell to a strong buy, indicating a Moderate Buy sentiment overall.

Nuveen LLC purchased a new position in Nutrien Ltd. (NYSE:NTR - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,280,471 shares of the company's stock, valued at approximately $63,542,000. Nuveen LLC owned approximately 0.26% of Nutrien as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Harbour Investments Inc. increased its position in Nutrien by 94.8% in the first quarter. Harbour Investments Inc. now owns 715 shares of the company's stock worth $35,000 after buying an additional 348 shares in the last quarter. Allworth Financial LP increased its position in Nutrien by 117.1% in the first quarter. Allworth Financial LP now owns 938 shares of the company's stock worth $50,000 after buying an additional 506 shares in the last quarter. GAMMA Investing LLC increased its position in Nutrien by 4,866.7% in the first quarter. GAMMA Investing LLC now owns 1,043 shares of the company's stock worth $52,000 after buying an additional 1,022 shares in the last quarter. HM Payson & Co. purchased a new stake in Nutrien in the first quarter worth about $65,000. Finally, Banque Cantonale Vaudoise purchased a new stake in Nutrien in the first quarter worth about $77,000. Hedge funds and other institutional investors own 63.10% of the company's stock.

Nutrien Price Performance

NYSE:NTR opened at $56.89 on Thursday. The firm has a market capitalization of $27.70 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 1.03 and a beta of 0.81. Nutrien Ltd. has a 1 year low of $43.69 and a 1 year high of $65.08. The business has a 50 day simple moving average of $59.69 and a 200-day simple moving average of $55.43. 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 posted its quarterly earnings data on Wednesday, August 6th. The company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.24. Nutrien had a return on equity of 6.51% and a net margin of 5.25%. The business had revenue of $10.30 billion during the quarter, compared to analyst estimates of $10.40 billion. During the same period last year, the company earned $2.34 EPS. The company's revenue for the quarter was up 2.8% on a year-over-year basis. Equities analysts forecast that Nutrien Ltd. will post 3.72 EPS for the current year.

Nutrien Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Monday, September 29th will be issued a $0.545 dividend. This represents a $2.18 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Monday, September 29th. Nutrien's dividend payout ratio is presently 78.14%.

Analysts Set New Price Targets

A number of brokerages have commented on NTR. Bank of America upped their price target on Nutrien from $60.00 to $63.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Royal Bank Of Canada reiterated an "outperform" rating on shares of Nutrien in a research report on Monday, July 14th. Wall Street Zen upgraded Nutrien from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Barclays increased their target price on Nutrien from $61.00 to $64.00 and gave the stock an "equal weight" rating in a research report on Monday, July 7th. Finally, Morgan Stanley increased their target price on Nutrien from $60.00 to $65.00 and gave the stock an "equal weight" rating in a research report on Thursday, June 26th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Nutrien currently has an average rating of "Moderate Buy" and an average price target of $62.65.

Nutrien Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.