OMERS ADMINISTRATION Corp Reduces Stock Position in Nutrien Ltd. $NTR

Key Points

• OMERS Administration Corp. cut its Nutrien stake by 97.2% in the first quarter, selling 1.2 million shares and retaining 35,284 shares valued at approximately $2.7 million.
• Analysts maintain a generally positive outlook, with 16 Buy ratings, four Holds and one Sell; Nutrien has a consensus “Moderate Buy” rating and an average price target of $81.84.
• Nutrien reported quarterly EPS of $0.51 and revenue of $6.05 billion, exceeding estimates, while revenue rose 18.5% year over year. The company pays a quarterly dividend of $0.55, representing a 3.2% yield.

OMERS ADMINISTRATION Corp lessened its holdings in Nutrien Ltd. (NYSE:NTR - Free Report) by 97.2% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 35,284 shares of the company's stock after selling 1,204,900 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Nutrien were worth $2,655,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Nutrien by 65.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,224 shares of the company's stock worth $1,253,000 after purchasing an additional 9,950 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of Nutrien by 6.2% in the first quarter. NewEdge Advisors LLC now owns 6,907 shares of the company's stock worth $343,000 after purchasing an additional 404 shares during the last quarter. Focus Partners Wealth purchased a new position in Nutrien in the 1st quarter worth about $516,000. Acadian Asset Management LLC purchased a new position in Nutrien in the 1st quarter worth about $54,000. Finally, Prudential Financial Inc. bought a new stake in Nutrien during the 2nd quarter valued at about $203,000. Hedge funds and other institutional investors own 63.10% of the company's stock.

Analysts Set New Price Targets

NTR has been the subject of several research reports. Barclays lowered their price objective on shares of Nutrien from $85.00 to $81.00 and set an "overweight" rating for the company in a research report on Monday. Canadian Imperial Bank of Commerce decreased their target price on Nutrien from $90.00 to $88.00 and set an "outperformer" rating for the company in a research report on Thursday, April 30th. Scotia raised Nutrien from a "sector perform" rating to a "sector outperform" rating and set a $80.00 price target on the stock in a research report on Tuesday, June 30th. UBS Group cut their price target on Nutrien from $67.00 to $65.00 and set a "sell" rating on the stock in a research note on Monday, May 11th. Finally, Morgan Stanley decreased their price objective on Nutrien from $93.00 to $81.00 and set an "overweight" rating for the company in a report on Tuesday, July 7th. Sixteen analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $81.84.

Nutrien Trading Up 3.2%

Shares of NYSE NTR opened at $69.52 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.24 and a quick ratio of 0.59. The stock has a market capitalization of $33.26 billion, a P/E ratio of 14.16, a price-to-earnings-growth ratio of 0.66 and a beta of 0.62. Nutrien Ltd. has a 1-year low of $53.03 and a 1-year high of $85.36. The business has a fifty day moving average price of $66.40 and a 200 day moving average price of $70.21.

Nutrien (NYSE:NTR - Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.03. Nutrien had a return on equity of 8.84% and a net margin of 8.58%.The company had revenue of $6.05 billion for the quarter, compared to analyst estimates of $5.30 billion. During the same quarter in the previous year, the firm earned $0.11 earnings per share. The firm's quarterly revenue was up 18.5% compared to the same quarter last year. Equities research analysts expect that Nutrien Ltd. will post 5.08 EPS for the current fiscal year.

Nutrien Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 17th. Shareholders of record on Tuesday, June 30th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 3.2%. The ex-dividend date was Tuesday, June 30th. Nutrien's dividend payout ratio (DPR) is 44.81%.

About Nutrien

Nutrien Ltd. is a global fertilizer and agricultural-services company headquartered in Saskatoon, Saskatchewan, Canada. The company is publicly traded and operates across the farm input value chain, combining upstream fertilizer production with a broad retail and services platform aimed at supporting crop production worldwide. Nutrien's business model integrates the manufacture and distribution of crop nutrients with on-the-ground agronomic support for growers and agricultural businesses.

Nutrien produces and supplies the three primary fertilizer nutrients—potash, nitrogen and phosphate—through its wholesale operations, and markets a wide range of crop inputs including seeds and crop protection products.

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