First Eagle Investment Management LLC Grows Holdings in Nutrien Ltd. $NTR

First Eagle Investment Management LLC raised its holdings in shares of Nutrien Ltd. (NYSE:NTR) by 14.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,268,229 shares of the company’s stock after purchasing an additional 1,627,328 shares during the quarter. Nutrien accounts for approximately 1.5% of First Eagle Investment Management LLC’s investment portfolio, making the stock its 25th largest holding. First Eagle Investment Management LLC owned approximately 2.73% of Nutrien worth $772,742,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Intech Investment Management LLC lifted its holdings in Nutrien by 284.0% during the 1st quarter. Intech Investment Management LLC now owns 69,128 shares of the company’s stock valued at $3,430,000 after buying an additional 51,126 shares in the last quarter. Covea Finance increased its position in shares of Nutrien by 16.5% during the second quarter. Covea Finance now owns 73,500 shares of the company’s stock worth $4,265,000 after acquiring an additional 10,400 shares during the period. Belpointe Asset Management LLC bought a new stake in shares of Nutrien during the first quarter valued at approximately $311,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Nutrien by 1.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 736,996 shares of the company’s stock valued at $36,607,000 after purchasing an additional 7,194 shares during the period. Finally, Parallel Advisors LLC grew its stake in Nutrien by 20.6% in the second quarter. Parallel Advisors LLC now owns 1,824 shares of the company’s stock worth $106,000 after purchasing an additional 311 shares in the last quarter. 63.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on NTR shares. Wall Street Zen lowered Nutrien from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 5th. UBS Group decreased their price objective on Nutrien from $63.00 to $58.00 and set a “neutral” rating for the company in a report on Thursday. Jefferies Financial Group dropped their target price on shares of Nutrien from $61.00 to $60.00 and set a “hold” rating on the stock in a report on Tuesday, September 9th. Bank of America reissued a “neutral” rating and set a $67.00 target price on shares of Nutrien in a research report on Tuesday, October 14th. Finally, Mizuho lowered their price target on shares of Nutrien from $64.00 to $61.00 and set a “neutral” rating for the company in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $62.83.

Nutrien Stock Performance

Shares of Nutrien stock opened at $55.63 on Friday. The company has a market capitalization of $26.95 billion, a PE ratio of 19.94, a P/E/G ratio of 0.92 and a beta of 0.83. The company has a 50-day simple moving average of $57.40 and a two-hundred day simple moving average of $58.17. Nutrien Ltd. has a one year low of $43.69 and a one year high of $65.08. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.85 and a current ratio of 1.33.

Nutrien (NYSE:NTR) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.06. The firm had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.59 billion. Nutrien had a net margin of 5.25% and a return on equity of 6.51%. The company’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.39 EPS. Research analysts expect that Nutrien Ltd. will post 3.72 EPS for the current fiscal year.

Nutrien Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 16th. Stockholders of record on Wednesday, December 31st will be issued a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Wednesday, December 31st. Nutrien’s dividend payout ratio is currently 58.76%.

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.