Canoe Financial LP Takes Position in Nutrien Ltd. $NTR

Canoe Financial LP acquired a new position in Nutrien Ltd. (NYSE:NTR) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,319,947 shares of the company’s stock, valued at approximately $99,603,000. Canoe Financial LP owned about 0.27% of Nutrien at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Wellington Management Group LLP increased its stake in Nutrien by 440.2% in the 4th quarter. Wellington Management Group LLP now owns 16,338,606 shares of the company’s stock worth $1,008,713,000 after buying an additional 13,313,817 shares in the last quarter. Norges Bank bought a new position in shares of Nutrien during the 4th quarter valued at approximately $412,635,000. Arrowstreet Capital Limited Partnership raised its holdings in Nutrien by 19.1% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 14,221,381 shares of the company’s stock valued at $834,962,000 after buying an additional 2,276,651 shares during the period. TD Asset Management Inc lifted its position in Nutrien by 21.2% in the fourth quarter. TD Asset Management Inc now owns 8,928,534 shares of the company’s stock worth $551,821,000 after buying an additional 1,559,673 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp boosted its stake in Nutrien by 5,891.2% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 1,240,184 shares of the company’s stock worth $76,650,000 after buying an additional 1,219,484 shares during the period. 63.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on NTR shares. Bank of America raised shares of Nutrien from a “neutral” rating to a “buy” rating and set a $82.00 target price on the stock in a research note on Thursday, April 30th. Oppenheimer increased their price objective on shares of Nutrien from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 12th. BMO Capital Markets raised their price objective on shares of Nutrien from $85.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 18th. JPMorgan Chase & Co. upped their target price on Nutrien from $78.00 to $80.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Finally, Berenberg Bank set a $65.00 price target on Nutrien and gave the stock a “hold” rating in a research note on Wednesday, June 10th. Eleven analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $81.71.

Nutrien Stock Performance

Shares of NYSE:NTR opened at $61.09 on Monday. The firm’s 50 day simple moving average is $68.98 and its 200-day simple moving average is $69.53. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.59 and a current ratio of 1.24. Nutrien Ltd. has a one year low of $53.03 and a one year high of $85.36. The firm has a market cap of $29.28 billion, a PE ratio of 12.44, a price-to-earnings-growth ratio of 0.56 and a beta of 0.60.

Nutrien (NYSE:NTR) last announced 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. The company had revenue of $6.05 billion for the quarter, compared to analysts’ expectations of $5.30 billion. Nutrien had a return on equity of 8.84% and a net margin of 8.58%.Nutrien’s revenue was up 18.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.11 earnings per share. As a group, equities analysts predict that Nutrien Ltd. will post 5.45 EPS for the current year.

Nutrien Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Tuesday, June 30th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Tuesday, June 30th. Nutrien’s payout ratio 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.