Korea Investment CORP Buys New Shares in Nutrien Ltd. $NTR

Korea Investment CORP bought a new position in shares of Nutrien Ltd. (NYSE:NTR) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 264,260 shares of the company’s stock, valued at approximately $16,643,000. Korea Investment CORP owned approximately 0.06% of Nutrien as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the business. Montag A & Associates Inc. lifted its position in shares of Nutrien by 310.7% during the 4th quarter. Montag A & Associates Inc. now owns 423 shares of the company’s stock valued at $26,000 after acquiring an additional 320 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Nutrien by 1,014.0% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 479 shares of the company’s stock worth $30,000 after acquiring an additional 436 shares in the last quarter. Global Retirement Partners LLC acquired a new position in shares of Nutrien in the 2nd quarter worth $30,000. Evolution Wealth Management Inc. acquired a new stake in shares of Nutrien during the first quarter worth $32,000. Finally, Allied Private Wealth LLC purchased a new position in Nutrien in the 2nd quarter worth about $33,000. Institutional investors and hedge funds own 63.10% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on NTR shares. BNP Paribas Exane raised shares of Nutrien from a “neutral” rating to an “outperform” rating and set a $80.00 target price on the stock in a research report on Tuesday, July 28th. Berenberg Bank set a $65.00 price target on Nutrien and gave the company a “hold” rating in a report on Wednesday, June 10th. National Bank Financial dropped their price target on Nutrien from $76.00 to $74.00 and set an “outperform” rating on the stock in a research report on Monday, August 10th. Barclays reduced their price objective on Nutrien from $81.00 to $78.00 and set an “overweight” rating for the company in a research note on Monday, August 10th. Finally, UBS Group decreased their price objective on Nutrien from $67.00 to $65.00 and set a “sell” rating for the company in a research report on Monday, May 11th. Seventeen equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $81.58.

Nutrien Trading Up 0.1%

Nutrien stock opened at $75.36 on Monday. Nutrien Ltd. has a 12 month low of $53.03 and a 12 month high of $85.36. 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 stock has a market cap of $36.05 billion, a P/E ratio of 15.26, a P/E/G ratio of 0.76 and a beta of 0.61. The company’s fifty day simple moving average is $66.42 and its 200-day simple moving average is $70.43.

Nutrien (NYSE:NTR) last posted its quarterly 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 for the quarter, compared to analysts’ expectations of $10.44 billion. Nutrien had a return on equity of 8.88% and a net margin of 8.44%.The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period last year, the business earned $2.65 earnings per share. As a group, sell-side analysts forecast that Nutrien Ltd. will post 4.95 EPS for the current fiscal year.

Nutrien Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Tuesday, September 29th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.9%. The ex-dividend date is Tuesday, September 29th. Nutrien’s dividend payout ratio (DPR) is 44.53%.

Nutrien Company Profile

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.