Canada Pension Plan Investment Board Makes New Investment in Nutrien Ltd. $NTR

Canada Pension Plan Investment Board acquired a new position in Nutrien Ltd. (NYSE:NTR) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 5,709,156 shares of the company’s stock, valued at approximately $359,318,000. Canada Pension Plan Investment Board owned about 1.19% of Nutrien as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in NTR. Montag A & Associates Inc. boosted its position in Nutrien by 310.7% during the fourth quarter. Montag A & Associates Inc. now owns 423 shares of the company’s stock valued at $26,000 after buying an additional 320 shares during the period. Evolution Wealth Management Inc. purchased a new position in shares of Nutrien in the first quarter worth about $32,000. Global Retirement Partners LLC purchased a new position in shares of Nutrien in the second quarter worth about $30,000. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Nutrien by 1,014.0% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 479 shares of the company’s stock valued at $30,000 after acquiring an additional 436 shares during the last quarter. Finally, Allied Private Wealth LLC bought a new stake in shares of Nutrien in the 2nd quarter valued at about $33,000. Hedge funds and other institutional investors own 63.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on NTR shares. Scotia upgraded Nutrien from a “sector perform” rating to a “sector outperform” rating and set a $80.00 target price for the company in a report on Tuesday, June 30th. National Bank Financial lowered their price objective on Nutrien from $76.00 to $74.00 and set an “outperform” rating for the company in a research report on Monday, August 10th. Oppenheimer dropped their price objective on Nutrien from $82.00 to $80.00 and set an “outperform” rating for the company in a research note on Thursday, July 23rd. Morgan Stanley cut their target price on shares of Nutrien from $93.00 to $81.00 and set an “overweight” rating on the stock in a report on Tuesday, July 7th. Finally, Bank of America raised shares of Nutrien from a “neutral” rating to a “buy” rating and set a $82.00 target price on the stock in a research note on Thursday, April 30th. Seventeen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $81.58.

Nutrien Stock Down 2.0%

NYSE NTR opened at $72.81 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.39 and a quick ratio of 0.86. The stock has a market capitalization of $34.83 billion, a PE ratio of 14.74, a PEG ratio of 0.75 and a beta of 0.61. Nutrien Ltd. has a 1 year low of $53.03 and a 1 year high of $85.36. The business’s 50-day moving average is $66.73 and its 200 day moving average is $70.47.

Nutrien (NYSE:NTR) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $2.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.70 by ($0.09). Nutrien had a net margin of 8.44% and a return on equity of 8.88%. The business had revenue of $10.81 billion for the quarter, compared to analysts’ expectations of $10.44 billion. During the same quarter in the prior year, the firm earned $2.65 EPS. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. Sell-side analysts forecast that Nutrien Ltd. will post 4.95 earnings per share for the current year.

Nutrien Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Tuesday, September 29th will be issued a dividend of $0.55 per share. 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 currently 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.