Nutrien Ltd. $NTR Holdings Raised by Lorne Steinberg Wealth Management Inc.

Lorne Steinberg Wealth Management Inc. grew its stake in shares of Nutrien Ltd. (NYSE:NTR) by 1.4% in the 2nd quarter, HoldingsChannel reports. The firm owned 95,021 shares of the company’s stock after acquiring an additional 1,295 shares during the quarter. Lorne Steinberg Wealth Management Inc.’s holdings in Nutrien were worth $5,541,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Nutrien by 7.1% during the first quarter. Vanguard Group Inc. now owns 21,191,003 shares of the company’s stock valued at $1,051,709,000 after purchasing an additional 1,412,503 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in Nutrien by 17.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 8,786,309 shares of the company’s stock worth $436,137,000 after acquiring an additional 1,284,181 shares in the last quarter. Mackenzie Financial Corp lifted its stake in Nutrien by 0.7% in the 1st quarter. Mackenzie Financial Corp now owns 7,855,609 shares of the company’s stock worth $389,860,000 after acquiring an additional 54,918 shares in the last quarter. Deutsche Bank AG lifted its stake in Nutrien by 6.5% in the 1st quarter. Deutsche Bank AG now owns 7,568,805 shares of the company’s stock worth $375,943,000 after acquiring an additional 463,748 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Nutrien by 48.7% in the 1st 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 in the last quarter. 63.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on NTR. Morgan Stanley increased their price objective on Nutrien from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 26th. Zacks Research lowered Nutrien from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 16th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Nutrien in a research report on Monday, July 14th. Oppenheimer upped 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. Finally, Wells Fargo & Company reissued a “cautious” rating on shares of Nutrien in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $62.78.

Nutrien Stock Performance

NTR opened at $57.51 on Monday. The firm has a market capitalization of $27.90 billion, a P/E ratio of 20.61, a price-to-earnings-growth ratio of 0.94 and a beta of 0.82. The stock’s 50 day moving average price is $57.77 and its two-hundred day moving average price is $57.62. 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 Ltd. has a 12-month low of $43.69 and a 12-month high of $65.08.

Nutrien (NYSE:NTR) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $2.65 EPS for the quarter, topping 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 the consensus estimate of $10.40 billion. During the same quarter last year, the company earned $2.34 EPS. The company’s quarterly revenue was up 2.8% on a year-over-year basis. On average, equities analysts forecast that Nutrien Ltd. will post 3.72 earnings per share for the current year.

Nutrien Dividend Announcement

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

About Nutrien

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.