Bank of New York Mellon Corp Increases Stake in Nutrien Ltd. $NTR

Bank of New York Mellon Corp increased its stake in Nutrien Ltd. (NYSE:NTR) by 190.3% during the 1st quarter, Holdings Channel.com reports. The fund owned 1,326,262 shares of the company’s stock after buying an additional 869,326 shares during the period. Bank of New York Mellon Corp’s holdings in Nutrien were worth $100,080,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Montag A & Associates Inc. grew its stake in shares of Nutrien by 310.7% during the 4th quarter. Montag A & Associates Inc. now owns 423 shares of the company’s stock valued at $26,000 after buying an additional 320 shares during the period. Evolution Wealth Management Inc. acquired a new position in Nutrien in the first quarter valued at $32,000. Sfam LLC purchased a new stake in Nutrien during the fourth quarter valued at about $37,000. Eastern Bank increased its stake in Nutrien by 133.0% during the fourth quarter. Eastern Bank now owns 699 shares of the company’s stock worth $43,000 after acquiring an additional 399 shares during the last quarter. Finally, Harbour Investments Inc. raised its holdings in shares of Nutrien by 97.2% in the 4th quarter. Harbour Investments Inc. now owns 704 shares of the company’s stock worth $43,000 after purchasing an additional 347 shares during the period. 63.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NTR has been the subject of a number of research reports. National Bank Financial set a $76.00 target price on Nutrien and gave the stock an “outperform” rating in a report on Monday, July 13th. Raymond James Financial raised shares of Nutrien from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $74.00 to $90.00 in a research report on Tuesday, May 5th. Scotia upgraded shares of Nutrien from a “sector perform” rating to a “sector outperform” rating and set a $80.00 price objective for the company in a research note on Tuesday, June 30th. Mizuho reduced their target price on shares of Nutrien from $77.00 to $75.00 and set a “neutral” rating on the stock in a report on Tuesday, July 14th. Finally, Morgan Stanley decreased their price target on shares of Nutrien from $93.00 to $81.00 and set an “overweight” rating for the company in a research report on Tuesday, July 7th. Fourteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $82.00.

Nutrien Trading Down 1.0%

Shares of NTR opened at $66.64 on Tuesday. The company has a market capitalization of $31.88 billion, a P/E ratio of 13.57, a P/E/G ratio of 0.66 and a beta of 0.62. Nutrien Ltd. has a one year low of $53.03 and a one year high of $85.36. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.59 and a current ratio of 1.24. The stock has a 50-day moving average price of $66.80 and a 200 day moving average price of $69.93.

Nutrien (NYSE:NTR) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.03. Nutrien had a return on equity of 8.84% and a net margin of 8.58%.The company had revenue of $6.05 billion for the quarter, compared to the consensus estimate of $5.30 billion. During the same period in the previous year, the business earned $0.11 EPS. Nutrien’s revenue for the quarter was up 18.5% compared to the same quarter last year. Sell-side analysts forecast that Nutrien Ltd. will post 5.11 EPS for the current fiscal year.

Nutrien Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.3%. Nutrien’s dividend payout ratio (DPR) is presently 44.81%.

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.