1832 Asset Management L.P. Purchases 167,312 Shares of Nutrien Ltd. (NYSE:NTR)

1832 Asset Management L.P. increased its position in Nutrien Ltd. (NYSE:NTR) by 1.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,006,528 shares of the company’s stock after acquiring an additional 167,312 shares during the quarter. Nutrien comprises about 0.4% of 1832 Asset Management L.P.’s investment portfolio, making the stock its 29th biggest position. 1832 Asset Management L.P. owned about 1.82% of Nutrien worth $458,522,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Family Firm Inc. bought a new position in Nutrien in the 2nd quarter worth $32,000. GoalVest Advisory LLC bought a new position in Nutrien in the 1st quarter worth $35,000. Trust Co. of Vermont raised its holdings in Nutrien by 50.0% in the 2nd quarter. Trust Co. of Vermont now owns 900 shares of the company’s stock worth $46,000 after acquiring an additional 300 shares during the period. Covestor Ltd raised its holdings in Nutrien by 33.3% in the 1st quarter. Covestor Ltd now owns 932 shares of the company’s stock worth $50,000 after acquiring an additional 233 shares during the period. Finally, Andra AP fonden bought a new position in Nutrien in the 2nd quarter worth $51,000. Institutional investors own 63.10% of the company’s stock.

Nutrien Price Performance

Shares of Nutrien stock opened at $47.06 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.82 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $23.29 billion, a price-to-earnings ratio of 27.52, a P/E/G ratio of 1.53 and a beta of 0.82. Nutrien Ltd. has a 1-year low of $44.65 and a 1-year high of $63.60. The firm’s 50-day moving average price is $48.00 and its two-hundred day moving average price is $51.86.

Nutrien (NYSE:NTR) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $2.34 earnings per share for the quarter, topping the consensus estimate of $2.19 by $0.15. The firm had revenue of $10.16 billion for the quarter, compared to analysts’ expectations of $10.82 billion. Nutrien had a net margin of 2.97% and a return on equity of 6.91%. The company’s quarterly revenue was down 12.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.53 earnings per share. On average, equities analysts predict that Nutrien Ltd. will post 3.81 earnings per share for the current fiscal year.

Nutrien Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Friday, September 27th will be paid a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.16 annualized dividend and a yield of 4.59%. Nutrien’s dividend payout ratio is 126.32%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on NTR shares. Wells Fargo & Company dropped their price objective on shares of Nutrien from $68.00 to $66.00 and set an “overweight” rating on the stock in a report on Tuesday, July 16th. Mizuho dropped their price objective on shares of Nutrien from $55.00 to $52.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. TD Securities dropped their price objective on shares of Nutrien from $69.00 to $67.00 and set a “buy” rating on the stock in a report on Thursday, August 1st. BMO Capital Markets dropped their price objective on shares of Nutrien from $80.00 to $75.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Finally, Hsbc Global Res downgraded shares of Nutrien from a “hold” rating to a “moderate sell” rating in a report on Friday, August 2nd. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $62.39.

About Nutrien

Nutrien Ltd. provides crop inputs and services. The company operates through four segments: Retail, Potash, Nitrogen, and Phosphate. The Retail segment distributes crop nutrients, crop protection products, seeds, and merchandise products. The Potash segment provides granular and standard potash products.