Cidel Asset Management Inc. Has $5.02 Million Stake in Nutrien Ltd. $NTR

Cidel Asset Management Inc. raised its stake in shares of Nutrien Ltd. (NYSE:NTR) by 1,642.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,717 shares of the company’s stock after buying an additional 75,141 shares during the period. Cidel Asset Management Inc.’s holdings in Nutrien were worth $5,020,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Evolution Wealth Management Inc. bought a new stake in shares of Nutrien during the 1st quarter worth about $32,000. Global Retirement Partners LLC bought a new position in shares of Nutrien in the 2nd quarter valued at approximately $30,000. Thurston Springer Miller Herd & Titak Inc. raised 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 in the last quarter. Allied Private Wealth LLC acquired a new stake in Nutrien in the 2nd quarter worth approximately $33,000. Finally, Sfam LLC acquired a new stake in Nutrien in the 4th quarter worth approximately $37,000. Institutional investors and hedge funds own 63.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Barclays decreased their target price on Nutrien from $81.00 to $78.00 and set an “overweight” rating for the company in a research report on Monday, August 10th. BNP Paribas Exane upgraded shares of Nutrien from a “neutral” rating to an “outperform” rating and set a $80.00 price objective for the company in a research note on Tuesday, July 28th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Nutrien in a report on Monday, August 10th. Weiss Ratings upgraded shares of Nutrien from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Finally, Berenberg Bank set a $65.00 target price on shares of Nutrien and gave the company a “hold” rating in a research note on Wednesday, June 10th. Seventeen investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $81.58.

Nutrien Price Performance

Shares of NYSE:NTR opened at $80.76 on Wednesday. The business has a 50 day moving average price of $69.81 and a 200 day moving average price of $70.97. Nutrien Ltd. has a twelve month low of $53.03 and a twelve month high of $85.36. The company has a market cap of $38.54 billion, a price-to-earnings ratio of 16.35, a PEG ratio of 0.84 and a beta of 0.62. The company has a quick ratio of 0.86, a current ratio of 1.39 and a debt-to-equity ratio of 0.36.

Nutrien (NYSE:NTR) last released its 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). The business had revenue of $10.81 billion during the quarter, compared to analyst estimates of $10.44 billion. Nutrien had a net margin of 8.44% and a return on equity of 8.88%. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period last year, the business earned $2.65 EPS. Research analysts predict that Nutrien Ltd. will post 4.71 earnings per share for the current year.

Nutrien Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Tuesday, September 29th will be paid a $0.55 dividend. The ex-dividend date is Tuesday, September 29th. This represents a $2.20 annualized dividend and a dividend yield of 2.7%. Nutrien’s dividend payout ratio (DPR) is presently 44.53%.

Nutrien Profile

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.