Capital Research Global Investors Acquires 9,488 Shares of Nutrien Ltd. $NTR

Capital Research Global Investors lifted its holdings in shares of Nutrien Ltd. (NYSE:NTR) by 0.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,143,265 shares of the company’s stock after acquiring an additional 9,488 shares during the quarter. Capital Research Global Investors’ holdings in Nutrien were worth $67,121,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of NTR. Capital International Inc. CA boosted its position in Nutrien by 64.3% in the third quarter. Capital International Inc. CA now owns 623,937 shares of the company’s stock worth $36,642,000 after purchasing an additional 244,174 shares during the last quarter. Capital International Investors increased its position in shares of Nutrien by 1.7% during the 3rd quarter. Capital International Investors now owns 5,539,645 shares of the company’s stock valued at $325,325,000 after purchasing an additional 95,274 shares during the last quarter. Legal & General Group Plc increased its position in shares of Nutrien by 4.4% during the 3rd quarter. Legal & General Group Plc now owns 2,530,644 shares of the company’s stock valued at $148,649,000 after purchasing an additional 106,401 shares during the last quarter. Moerus Capital Management LLC raised its stake in shares of Nutrien by 5.2% during the 3rd quarter. Moerus Capital Management LLC now owns 595,621 shares of the company’s stock worth $34,969,000 after purchasing an additional 29,665 shares during the period. Finally, Russell Investments Group Ltd. raised its stake in shares of Nutrien by 16.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 327,556 shares of the company’s stock worth $19,208,000 after purchasing an additional 46,928 shares during the period. 63.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NTR. JPMorgan Chase & Co. increased their price target on shares of Nutrien from $68.00 to $78.00 and gave the company an “overweight” rating in a research report on Friday, February 20th. Bank of America lifted their price objective on shares of Nutrien from $64.00 to $71.00 and gave the stock a “neutral” rating in a research report on Friday, February 20th. Oppenheimer increased their target price on shares of Nutrien from $76.00 to $78.00 and gave the company an “outperform” rating in a research report on Thursday, February 26th. Weiss Ratings upgraded shares of Nutrien from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, March 2nd. Finally, Mizuho lifted their price target on shares of Nutrien from $65.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, January 16th. Eight analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Nutrien has an average rating of “Hold” and an average target price of $72.82.

Nutrien Stock Performance

Nutrien stock opened at $79.27 on Thursday. The firm’s 50 day simple moving average is $69.36 and its 200 day simple moving average is $62.29. The company has a current ratio of 1.34, a quick ratio of 0.70 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $38.14 billion, a PE ratio of 17.01 and a beta of 0.70. Nutrien Ltd. has a 1-year low of $45.78 and a 1-year high of $79.31.

Nutrien (NYSE:NTR) last announced its quarterly earnings results on Wednesday, February 18th. The company reported $0.83 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.04). The firm had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $5.26 billion. Nutrien had a net margin of 8.43% and a return on equity of 8.41%. The firm’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.31 earnings per share. As a group, analysts expect that Nutrien Ltd. will post 3.72 earnings per share for the current fiscal year.

Nutrien Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 16th. Investors of record on Tuesday, March 31st will be paid a dividend of $0.55 per share. This is a positive change from Nutrien’s previous quarterly dividend of $0.55. This represents a $2.20 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Tuesday, March 31st. Nutrien’s dividend payout ratio is 47.21%.

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.