Nutrien Ltd. $NTR Holdings Lifted by SailingStone Capital Partners LLC

SailingStone Capital Partners LLC grew its position in shares of Nutrien Ltd. (NYSE:NTR) by 115.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 288,350 shares of the company’s stock after buying an additional 154,377 shares during the period. Nutrien accounts for 3.5% of SailingStone Capital Partners LLC’s investment portfolio, making the stock its 10th largest position. SailingStone Capital Partners LLC’s holdings in Nutrien were worth $18,152,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP increased its holdings in Nutrien by 440.2% in the 4th quarter. Wellington Management Group LLP now owns 16,338,606 shares of the company’s stock worth $1,008,713,000 after acquiring an additional 13,313,817 shares during the last quarter. Deutsche Bank AG purchased a new stake in Nutrien during the second quarter valued at about $588,720,000. Norges Bank bought a new position in Nutrien during the fourth quarter worth about $412,635,000. The Manufacturers Life Insurance Company bought a new position in Nutrien during the second quarter worth about $375,178,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Nutrien in the second quarter worth about $359,318,000. Institutional investors own 63.10% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Nutrien in a research report on Monday, August 10th. Barclays cut their price objective on shares of Nutrien from $81.00 to $78.00 and set an “overweight” rating for the company in a report on Monday, August 10th. Morgan Stanley reduced their price objective on shares of Nutrien from $93.00 to $81.00 and set an “overweight” rating for the company in a research note on Tuesday, July 7th. National Bank Financial lowered their target price on shares of Nutrien from $76.00 to $74.00 and set an “outperform” rating on the stock in a report on Monday, August 10th. Finally, Scotiabank upgraded Nutrien from a “sector perform” rating to a “sector outperform” rating and set a $80.00 target price on the stock in a research report on Tuesday, June 30th. Seventeen equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Nutrien currently has a consensus rating of “Moderate Buy” and an average price target of $81.58.

Nutrien Trading Up 0.2%

Shares of NTR opened at $80.80 on Thursday. The business’s 50-day moving average price is $70.15 and its 200-day moving average price is $71.04. Nutrien Ltd. has a twelve month low of $53.03 and a twelve month high of $85.36. The stock has a market cap of $38.56 billion, a PE ratio of 16.36, a P/E/G ratio of 0.86 and a beta of 0.62. The company has a quick ratio of 0.86, a current ratio of 1.39 and a debt-to-equity ratio of 0.36.

Nutrien (NYSE:NTR) last released its quarterly earnings data on Wednesday, August 5th. The company reported $2.61 EPS 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 the consensus estimate 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 last year, the business posted $2.65 earnings per share. On average, equities analysts forecast that Nutrien Ltd. will post 4.71 EPS for the current fiscal year.

Nutrien Announces Dividend

The company 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 $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Tuesday, September 29th. Nutrien’s dividend payout ratio (DPR) is presently 44.53%.

About Nutrien

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.