Tidal Investments LLC Sells 14,326 Shares of Nutrien Ltd. $NTR

Key Points

• Tidal Investments cut its Nutrien stake by 37.9% in the second quarter, selling 14,326 shares and retaining 23,455 shares valued at approximately $1.48 million. Institutional investors collectively own 63.1% of Nutrien.
• Analysts remain broadly positive, with 17 Buy ratings, four Holds and one Sell. Nutrien has a “Moderate Buy” consensus rating and an average price target of $81.15.
• Nutrien reported quarterly revenue of $10.81 billion, ahead of estimates, though earnings of $2.61 per share missed expectations. The company declared a quarterly dividend of $0.55 per share, representing a 2.8% annualized yield.

Tidal Investments LLC lessened its stake in Nutrien Ltd. (NYSE:NTR - Free Report) by 37.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,455 shares of the company's stock after selling 14,326 shares during the period. Tidal Investments LLC's holdings in Nutrien were worth $1,476,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bryn Mawr Trust Advisors LLC purchased a new stake in shares of Nutrien in the second quarter valued at approximately $8,363,000. BlackRock Inc. purchased a new position in Nutrien during the 2nd quarter worth $220,942,000. Hikari Power Ltd purchased a new position in Nutrien during the 2nd quarter worth $9,443,000. Geode Capital Management LLC raised its position in Nutrien by 6.8% during the 4th quarter. Geode Capital Management LLC now owns 4,833,284 shares of the company's stock valued at $304,217,000 after purchasing an additional 309,025 shares in the last quarter. Finally, Black Creek Investment Management Inc. raised its position in Nutrien by 7.9% during the 4th quarter. Black Creek Investment Management Inc. now owns 2,553,108 shares of the company's stock valued at $157,796,000 after purchasing an additional 185,864 shares in the last quarter. Institutional investors own 63.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on NTR shares. KeyCorp began coverage on Nutrien in a research report on Thursday, September 10th. They set a "sector weight" rating and a $73.00 price target on the stock. National Bank Financial decreased their price objective on Nutrien from $76.00 to $74.00 and set an "outperform" rating for the company in a report on Monday, August 10th. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating on shares of Nutrien in a research note on Monday, August 10th. 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 report on Tuesday, June 30th. Finally, Morgan Stanley cut their target price on shares of Nutrien from $93.00 to $81.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 7th. Seventeen analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Nutrien currently has a consensus rating of "Moderate Buy" and an average target price of $81.15.

Nutrien Stock Up 1.6%

Nutrien stock opened at $78.93 on Friday. 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 $37.67 billion, a P/E ratio of 15.98, a P/E/G ratio of 0.83 and a beta of 0.62. The business has a fifty day moving average of $71.72 and a two-hundred day moving average of $71.27. Nutrien Ltd. has a twelve month low of $53.03 and a twelve month high of $85.36.

Nutrien (NYSE:NTR - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $2.61 EPS for the quarter, missing the consensus estimate of $2.70 by ($0.09). The company had revenue of $10.81 billion during 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 company's revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.65 earnings per share. On average, analysts forecast that Nutrien Ltd. will post 4.66 earnings per share for the current fiscal year.

Nutrien Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Tuesday, September 29th will be issued a $0.55 dividend. The ex-dividend date is Tuesday, September 29th. This represents a $2.20 dividend on an annualized basis and a yield of 2.8%. Nutrien's payout ratio is currently 44.53%.

Nutrien Company Profile

Nutrien Ltd. NYSE: NTR is a global provider of crop inputs and agricultural services. The company produces and distributes essential nutrients, including potash, nitrogen and phosphate products, which farmers use to support crop growth and improve yields.

Through its retail operations, Nutrien supplies farmers with seed, crop protection products, fertilizers and agronomic services. Its retail network also provides farm management recommendations, application services and other solutions designed to help growers manage their operations and use agricultural inputs more efficiently.

Nutrien was formed in 2018 through the merger of Potash Corporation of Saskatchewan and Agrium.

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