Nutrien Ltd. $NTR Stake Raised by Covea Finance

Covea Finance increased its holdings in Nutrien Ltd. (NYSE:NTR) by 16.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,500 shares of the company’s stock after acquiring an additional 10,400 shares during the period. Covea Finance’s holdings in Nutrien were worth $4,265,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC raised its stake in shares of Nutrien by 184.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,243 shares of the company’s stock valued at $608,000 after acquiring an additional 7,934 shares in the last quarter. Intech Investment Management LLC boosted its stake in Nutrien by 284.0% in the 1st quarter. Intech Investment Management LLC now owns 69,128 shares of the company’s stock valued at $3,430,000 after buying an additional 51,126 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in Nutrien by 27.6% in the 1st quarter. Farther Finance Advisors LLC now owns 4,627 shares of the company’s stock valued at $229,000 after buying an additional 1,002 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Nutrien by 1.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 736,996 shares of the company’s stock valued at $36,607,000 after buying an additional 7,194 shares in the last quarter. Finally, Belpointe Asset Management LLC acquired a new stake in Nutrien in the 1st quarter valued at $311,000. 63.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on NTR. Royal Bank Of Canada reissued an “outperform” rating on shares of Nutrien in a research note on Monday, July 14th. UBS Group reduced their price objective on Nutrien from $64.00 to $63.00 and set a “neutral” rating on the stock in a research note on Thursday, August 7th. Oppenheimer boosted their target price on Nutrien from $63.00 to $65.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 15th. Jefferies Financial Group dropped their target price on Nutrien from $61.00 to $60.00 and set a “hold” rating for the company in a research report on Tuesday, September 9th. Finally, National Bankshares started coverage on Nutrien in a research report on Friday, September 5th. They set a “sector perform” rating and a $64.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Nutrien presently has a consensus rating of “Hold” and a consensus price target of $62.39.

Nutrien Stock Up 0.7%

NTR stock opened at $57.03 on Tuesday. The business has a 50-day moving average of $57.87 and a 200-day moving average of $56.59. Nutrien Ltd. has a fifty-two week low of $43.69 and a fifty-two week high of $65.08. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.33 and a quick ratio of 0.85. The stock has a market capitalization of $27.67 billion, a P/E ratio of 20.44, a P/E/G ratio of 0.93 and a beta of 0.77.

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

Nutrien Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Monday, September 29th will be issued a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Monday, September 29th. Nutrien’s dividend payout ratio (DPR) is presently 78.14%.

Nutrien 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.