Candriam Luxembourg S.C.A. increased its stake in Nutrien Ltd (NYSE:NTR) by 300.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 169,252 shares of the company’s stock after purchasing an additional 126,975 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Nutrien were worth $9,765,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in NTR. Fiera Capital Corp lifted its holdings in shares of Nutrien by 491.9% in the 2nd quarter. Fiera Capital Corp now owns 3,596,159 shares of the company’s stock worth $195,661,000 after purchasing an additional 2,988,583 shares during the last quarter. Egerton Capital UK LLP bought a new stake in Nutrien during the 2nd quarter valued at $144,679,000. Toronto Dominion Bank raised its stake in Nutrien by 177.3% during the 2nd quarter. Toronto Dominion Bank now owns 3,677,431 shares of the company’s stock valued at $200,088,000 after acquiring an additional 2,351,420 shares in the last quarter. AGF Investments Inc. raised its stake in Nutrien by 54.9% during the 2nd quarter. AGF Investments Inc. now owns 1,846,241 shares of the company’s stock valued at $100,420,000 after acquiring an additional 654,275 shares in the last quarter. Finally, Standard Life Aberdeen plc bought a new stake in Nutrien during the 2nd quarter valued at $29,727,000. 66.36% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have weighed in on NTR. Stephens set a $64.00 target price on Nutrien and gave the company a “buy” rating in a research note on Monday, August 6th. Raymond James lifted their target price on Nutrien from $65.00 to $67.00 and gave the company a “strong-buy” rating in a research note on Friday, August 3rd. Zacks Investment Research downgraded Nutrien from a “buy” rating to a “hold” rating in a research note on Wednesday, August 1st. TD Securities raised Nutrien from a “hold” rating to a “buy” rating and lifted their target price for the company from $63.00 to $68.00 in a research note on Wednesday, November 7th. They noted that the move was a valuation call. Finally, Royal Bank of Canada set a $63.00 target price on Nutrien and gave the company a “buy” rating in a research note on Thursday, August 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Nutrien presently has a consensus rating of “Buy” and an average target price of $62.67.

Shares of NTR stock opened at $53.53 on Friday. Nutrien Ltd has a 1 year low of $40.41 and a 1 year high of $58.99. The firm has a market cap of $33.71 billion, a PE ratio of 44.06, a PEG ratio of 1.97 and a beta of 0.76.

Nutrien (NYSE:NTR) last issued its quarterly earnings results on Monday, November 5th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.03. Nutrien had a return on equity of 12.95% and a net margin of 1.74%. The company had revenue of $4.03 billion for the quarter, compared to analysts’ expectations of $3.83 billion. The firm’s revenue for the quarter was up 226.9% on a year-over-year basis. Sell-side analysts predict that Nutrien Ltd will post 2.67 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 17th. Stockholders of record on Monday, December 31st will be given a dividend of $0.43 per share. The ex-dividend date is Friday, December 28th. This is a boost from Nutrien’s previous quarterly dividend of $0.40. This represents a $1.72 annualized dividend and a dividend yield of 3.21%.

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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.

Further Reading: Hedge Funds – Risk or Reward?

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Institutional Ownership by Quarter for Nutrien (NYSE:NTR)

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