Shell Asset Management Co. Purchases 14,842 Shares of Nutrien Ltd. $NTR

Shell Asset Management Co. boosted its position in Nutrien Ltd. (NYSE:NTR) by 44.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 48,155 shares of the company’s stock after purchasing an additional 14,842 shares during the quarter. Shell Asset Management Co.’s holdings in Nutrien were worth $2,800,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Nutrien by 7.1% in the first quarter. Vanguard Group Inc. now owns 21,191,003 shares of the company’s stock worth $1,051,709,000 after purchasing an additional 1,412,503 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in Nutrien by 17.1% in the first quarter. Canada Pension Plan Investment Board now owns 8,786,309 shares of the company’s stock worth $436,137,000 after purchasing an additional 1,284,181 shares in the last quarter. Mackenzie Financial Corp raised its holdings in Nutrien by 0.7% in the first quarter. Mackenzie Financial Corp now owns 7,855,609 shares of the company’s stock worth $389,860,000 after purchasing an additional 54,918 shares in the last quarter. Deutsche Bank AG raised its holdings in Nutrien by 6.5% in the first quarter. Deutsche Bank AG now owns 7,568,805 shares of the company’s stock worth $375,943,000 after purchasing an additional 463,748 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Nutrien by 48.7% during the first quarter. JPMorgan Chase & Co. now owns 6,992,535 shares of the company’s stock worth $347,319,000 after acquiring an additional 2,291,518 shares during the last quarter. 63.10% of the stock is currently owned by institutional investors.

Nutrien Price Performance

Shares of NYSE NTR opened at $60.64 on Wednesday. The business’s 50 day moving average price is $57.64 and its 200 day moving average price is $57.10. The firm has a market cap of $29.42 billion, a P/E ratio of 21.73, a P/E/G ratio of 0.99 and a beta of 0.82. Nutrien Ltd. has a 52 week low of $43.69 and a 52 week high of $65.08. The company has a quick ratio of 0.85, a current ratio of 1.33 and a debt-to-equity ratio of 0.39.

Nutrien (NYSE:NTR) last issued its earnings results on Wednesday, August 6th. The company reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.24. The firm had revenue of $10.30 billion for the quarter, compared to analyst estimates of $10.40 billion. Nutrien had a return on equity of 6.51% and a net margin of 5.25%.Nutrien’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.34 earnings per share. On average, sell-side analysts expect that Nutrien Ltd. will post 3.72 earnings per share for the current year.

Nutrien Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Monday, September 29th will be given a $0.545 dividend. This represents a $2.18 annualized dividend and a yield of 3.6%. The ex-dividend date is Monday, September 29th. Nutrien’s dividend payout ratio is currently 78.14%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on NTR shares. Zacks Research lowered Nutrien from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 16th. Wells Fargo & Company boosted their price target on Nutrien from $59.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 17th. TD Securities boosted their price target on Nutrien from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Monday, August 11th. Morgan Stanley boosted their price target on Nutrien from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 26th. Finally, National Bank Financial started coverage on Nutrien in a research note on Friday, September 5th. They set a “sector perform” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Nutrien has an average rating of “Hold” and an average price target of $62.39.

Nutrien Company Profile

Nutrien Ltd. provides crop inputs and services. The company operates through four segments: Retail, Potash, Nitrogen, and Phosphate. The Retail segment distributes crop nutrients, crop protection products, seeds, and merchandise products. The Potash segment provides granular and standard potash products.