Purpose Unlimited Inc. Buys New Shares in Nutrien Ltd. $NTR

Purpose Unlimited Inc. bought a new position in shares of Nutrien Ltd. (NYSE:NTR) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 169,225 shares of the company’s stock, valued at approximately $10,445,000.

Other large investors have also recently bought and sold shares of the company. Swiss Life Asset Management Ltd grew its stake in shares of Nutrien by 23.6% in the third quarter. Swiss Life Asset Management Ltd now owns 79,770 shares of the company’s stock valued at $4,691,000 after buying an additional 15,230 shares in the last quarter. Van ECK Associates Corp increased its holdings in Nutrien by 1.4% during the third quarter. Van ECK Associates Corp now owns 1,854,650 shares of the company’s stock worth $108,901,000 after buying an additional 25,588 shares during the last quarter. MH & Associates Securities Management Corp ADV bought a new stake in Nutrien during the fourth quarter worth $1,967,000. Hudson Bay Capital Management LP raised its position in Nutrien by 190.3% during the third quarter. Hudson Bay Capital Management LP now owns 116,312 shares of the company’s stock worth $6,829,000 after acquiring an additional 76,244 shares in the last quarter. Finally, Black Creek Investment Management Inc. lifted its stake in Nutrien by 57.3% in the third quarter. Black Creek Investment Management Inc. now owns 2,367,244 shares of the company’s stock valued at $139,050,000 after acquiring an additional 862,487 shares during the last quarter. 63.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Weiss Ratings raised shares of Nutrien from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, June 1st. Scotiabank raised their target price on shares of Nutrien from $75.00 to $80.00 and gave the company a “sector perform” rating in a research note on Monday, May 11th. Oppenheimer lifted their price target on Nutrien from $80.00 to $82.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. Canadian Imperial Bank of Commerce reduced their price target on Nutrien from $90.00 to $88.00 and set an “outperformer” rating for the company in a report on Thursday, April 30th. Finally, Morgan Stanley boosted their price target on Nutrien from $77.00 to $93.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 8th. Eleven analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $81.71.

Nutrien Stock Up 0.1%

Shares of NTR opened at $62.89 on Friday. Nutrien Ltd. has a 12 month low of $53.03 and a 12 month high of $85.36. The firm’s 50 day moving average is $70.21 and its 200-day moving average is $69.42. The stock has a market capitalization of $30.14 billion, a PE ratio of 12.81, a P/E/G ratio of 0.58 and a beta of 0.60. The company has a current ratio of 1.24, a quick ratio of 0.59 and a debt-to-equity ratio of 0.35.

Nutrien (NYSE:NTR) last issued its quarterly 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. The business had revenue of $6.05 billion during the quarter, compared to analysts’ expectations of $5.30 billion. Nutrien had a return on equity of 8.84% and a net margin of 8.58%.The firm’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.11 earnings per share. Equities research analysts forecast that Nutrien Ltd. will post 5.45 EPS for the current year.

Nutrien Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Tuesday, June 30th. Nutrien’s dividend payout ratio is presently 44.81%.

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.