Credit Suisse Group Reiterates “$55.00” Price Target for Nutrien (NTR)
A number of other analysts have also recently weighed in on the company. Royal Bank of Canada set a $65.00 price objective on Nutrien and gave the stock a buy rating in a research report on Tuesday, October 2nd. Macquarie raised their price objective on Nutrien from $59.00 to $66.00 and gave the stock an outperform rating in a research report on Friday, October 12th. Barclays started coverage on Nutrien in a research report on Tuesday, September 4th. They issued an overweight rating and a $65.00 price objective for the company. Zacks Investment Research raised Nutrien from a hold rating to a buy rating and set a $61.00 price objective for the company in a research report on Saturday, September 8th. Finally, Stephens set a $64.00 price objective on Nutrien and gave the stock a buy rating in a research report on Monday, August 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Nutrien presently has a consensus rating of Buy and a consensus target price of $63.12.
Shares of Nutrien stock traded down $0.39 during trading on Wednesday, reaching $56.15. The company’s stock had a trading volume of 1,040,704 shares, compared to its average volume of 1,971,647. The stock has a market capitalization of $35.17 billion, a price-to-earnings ratio of 45.96, a PEG ratio of 1.53 and a beta of 0.76. Nutrien has a 1-year low of $40.41 and a 1-year high of $58.99.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 17th. Shareholders of record on Monday, December 31st will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, December 28th. This represents a $1.72 dividend on an annualized basis and a yield of 3.06%. This is a boost from Nutrien’s previous quarterly dividend of $0.40.
A number of institutional investors and hedge funds have recently modified their holdings of NTR. CENTRAL TRUST Co lifted its position in Nutrien by 53.8% during the 2nd quarter. CENTRAL TRUST Co now owns 23,266 shares of the company’s stock worth $1,265,000 after acquiring an additional 8,141 shares during the period. Pennsylvania Trust Co acquired a new stake in Nutrien during the 2nd quarter worth about $253,000. Addenda Capital Inc. lifted its position in Nutrien by 137.0% during the 2nd quarter. Addenda Capital Inc. now owns 544,958 shares of the company’s stock worth $28,208,000 after acquiring an additional 315,019 shares during the period. Nwam LLC lifted its position in Nutrien by 44.2% during the 2nd quarter. Nwam LLC now owns 9,082 shares of the company’s stock worth $494,000 after acquiring an additional 2,785 shares during the period. Finally, Essex Investment Management Co. LLC lifted its position in Nutrien by 69.3% during the 2nd quarter. Essex Investment Management Co. LLC now owns 22,493 shares of the company’s stock worth $1,223,000 after acquiring an additional 9,205 shares during the period. 66.65% of the stock is owned by institutional investors.
Nutrien Company Profile
Nutrien Ltd. produces and markets crop nutrients worldwide. The company offers potash, nitrogen, phosphate, and solid and liquid phosphate fertilizers; and phosphate feed, ammonium sulfate, and industrial acid products. It also retails seeds, crop protection and crop nutrient products, merchandise products, and agronomic services through operating 1,500 retail locations.
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