Sumitomo Life Insurance Co. Buys Shares of 28,700 Nutrien Ltd. $NTR

Sumitomo Life Insurance Co. bought a new stake in Nutrien Ltd. (NYSE:NTR) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 28,700 shares of the company’s stock, valued at approximately $1,806,000.

Other large investors have also modified their holdings of the company. Guggenheim Capital LLC increased its position in shares of Nutrien by 2.2% during the 4th quarter. Guggenheim Capital LLC now owns 6,628 shares of the company’s stock worth $409,000 after purchasing an additional 145 shares during the last quarter. Minot DeBlois Advisors LLC raised its holdings in Nutrien by 1.8% in the 4th quarter. Minot DeBlois Advisors LLC now owns 9,032 shares of the company’s stock valued at $557,000 after buying an additional 164 shares during the period. Banque Cantonale Vaudoise lifted its position in Nutrien by 15.9% in the first quarter. Banque Cantonale Vaudoise now owns 1,198 shares of the company’s stock valued at $90,000 after buying an additional 164 shares during the last quarter. Gould Asset Management LLC CA lifted its position in Nutrien by 4.4% in the first quarter. Gould Asset Management LLC CA now owns 3,933 shares of the company’s stock valued at $297,000 after buying an additional 165 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in Nutrien by 21.8% during the fourth quarter. EverSource Wealth Advisors LLC now owns 983 shares of the company’s stock worth $61,000 after buying an additional 176 shares during the period. Institutional investors and hedge funds own 63.10% of the company’s stock.

Nutrien Price Performance

Nutrien stock opened at $75.36 on Friday. The firm has a market cap of $36.05 billion, a PE ratio of 15.26, a price-to-earnings-growth ratio of 0.73 and a beta of 0.61. Nutrien Ltd. has a 52-week low of $53.03 and a 52-week high of $85.36. The company has a quick ratio of 0.86, a current ratio of 1.39 and a debt-to-equity ratio of 0.36. The company’s 50 day moving average is $66.42 and its two-hundred day moving average is $70.42.

Nutrien (NYSE:NTR) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $2.61 EPS for the quarter, missing the consensus estimate of $2.70 by ($0.09). Nutrien had a return on equity of 8.88% and a net margin of 8.44%.The business had revenue of $10.81 billion during the quarter, compared to analyst estimates of $10.44 billion. During the same quarter last year, the firm earned $2.65 EPS. The business’s revenue was up 3.6% on a year-over-year basis. On average, research analysts expect that Nutrien Ltd. will post 5.01 EPS for the current fiscal year.

Nutrien Announces Dividend

The business 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 $0.55 dividend. The ex-dividend date is Tuesday, September 29th. This represents a $2.20 dividend on an annualized basis and a yield of 2.9%. Nutrien’s dividend payout ratio (DPR) is 44.53%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. UBS Group dropped their price target on shares of Nutrien from $67.00 to $65.00 and set a “sell” rating for the company in a research report on Monday, May 11th. Bank of America upgraded shares of Nutrien from a “neutral” rating to a “buy” rating and set a $82.00 price objective on the stock in a report on Thursday, April 30th. Raymond James Financial raised shares of Nutrien from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $74.00 to $90.00 in a research report on Tuesday, May 5th. BNP Paribas Exane upgraded shares of Nutrien from a “neutral” rating to an “outperform” rating and set a $80.00 target price for the company in a report on Tuesday, July 28th. Finally, Berenberg Bank set a $65.00 target price on shares of Nutrien and gave the company a “hold” rating in a report on Wednesday, June 10th. Seventeen investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $81.58.

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.