Connor Clark & Lunn Investment Management Ltd. Invests $27.71 Million in Nutrien Ltd. $NTR

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Nutrien Ltd. (NYSE:NTR) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 440,835 shares of the company’s stock, valued at approximately $27,715,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Guggenheim Capital LLC raised its holdings in Nutrien by 2.2% in the 4th quarter. Guggenheim Capital LLC now owns 6,628 shares of the company’s stock worth $409,000 after acquiring an additional 145 shares during the period. Minot DeBlois Advisors LLC boosted its holdings in Nutrien by 1.8% during the fourth quarter. Minot DeBlois Advisors LLC now owns 9,032 shares of the company’s stock valued at $557,000 after acquiring an additional 164 shares during the period. Banque Cantonale Vaudoise boosted its holdings in Nutrien by 15.9% during the first quarter. Banque Cantonale Vaudoise now owns 1,198 shares of the company’s stock valued at $90,000 after acquiring an additional 164 shares during the period. Gould Asset Management LLC CA grew its position in shares of Nutrien by 4.4% in the first quarter. Gould Asset Management LLC CA now owns 3,933 shares of the company’s stock valued at $297,000 after purchasing an additional 165 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of Nutrien by 21.8% in the fourth quarter. EverSource Wealth Advisors LLC now owns 983 shares of the company’s stock valued at $61,000 after purchasing an additional 176 shares during the last quarter. 63.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on NTR shares. JPMorgan Chase & Co. boosted their price objective on Nutrien from $78.00 to $80.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Morgan Stanley lowered their target price on Nutrien from $93.00 to $81.00 and set an “overweight” rating on the stock in a report on Tuesday, July 7th. Bank of America raised Nutrien from a “neutral” rating to a “buy” rating and set a $82.00 price target on the stock in a research report on Thursday, April 30th. Raymond James Financial upgraded Nutrien from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $74.00 to $90.00 in a report on Tuesday, May 5th. Finally, Mizuho reduced their price objective on Nutrien from $77.00 to $75.00 and set a “neutral” rating for the company in a research report on Tuesday, July 14th. Seventeen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Nutrien currently has an average rating of “Moderate Buy” and an average target price of $81.58.

Nutrien Stock Down 1.3%

NTR stock opened at $74.28 on Tuesday. Nutrien Ltd. has a twelve month low of $53.03 and a twelve 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 company has a market cap of $35.53 billion, a PE ratio of 15.04, a price-to-earnings-growth ratio of 0.76 and a beta of 0.61. The business’s 50-day simple moving average is $66.58 and its 200 day simple moving average is $70.46.

Nutrien (NYSE:NTR) last posted 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). Nutrien had a net margin of 8.44% and a return on equity of 8.88%. The firm had revenue of $10.81 billion during the quarter, compared to analyst estimates of $10.44 billion. During the same period last year, the company earned $2.65 EPS. The company’s revenue was up 3.6% on a year-over-year basis. On average, research analysts anticipate that Nutrien Ltd. will post 4.95 earnings per share for the current year.

Nutrien Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Tuesday, September 29th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Tuesday, September 29th. Nutrien’s dividend payout ratio is presently 44.53%.

About Nutrien

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.