Lorne Steinberg Wealth Management Inc. Boosts Holdings in Nutrien Ltd. $NTR

Lorne Steinberg Wealth Management Inc. boosted its holdings in shares of Nutrien Ltd. (NYSE:NTR) by 12.6% in the third quarter, HoldingsChannel.com reports. The fund owned 106,996 shares of the company’s stock after buying an additional 11,975 shares during the quarter. Lorne Steinberg Wealth Management Inc.’s holdings in Nutrien were worth $6,282,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of NTR. Campbell & CO Investment Adviser LLC grew its holdings in Nutrien by 122.1% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 68,124 shares of the company’s stock valued at $4,000,000 after buying an additional 37,447 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Nutrien by 20.2% in the second quarter. Advisors Asset Management Inc. now owns 69,551 shares of the company’s stock worth $4,051,000 after acquiring an additional 11,704 shares during the last quarter. Sagard Holdings Management Inc. purchased a new stake in shares of Nutrien in the second quarter valued at $1,511,000. IFP Advisors Inc lifted its position in shares of Nutrien by 12.3% in the second quarter. IFP Advisors Inc now owns 52,426 shares of the company’s stock valued at $3,053,000 after acquiring an additional 5,752 shares in the last quarter. Finally, Boston Partners acquired a new stake in shares of Nutrien during the second quarter valued at $150,416,000. Hedge funds and other institutional investors own 63.10% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Nutrien from a “buy” rating to a “hold” rating in a research note on Saturday, January 17th. Wells Fargo & Company started coverage on shares of Nutrien in a report on Tuesday, November 11th. They set an “equal weight” rating and a $64.00 price target for the company. Morgan Stanley raised shares of Nutrien from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $70.00 to $77.00 in a research report on Wednesday, January 14th. UBS Group upped their price objective on shares of Nutrien from $58.00 to $63.00 and gave the company a “neutral” rating in a research note on Monday, January 12th. Finally, Mizuho raised their target price on shares of Nutrien from $65.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $65.71.

Nutrien Stock Up 4.1%

NTR opened at $70.88 on Monday. Nutrien Ltd. has a 12 month low of $45.78 and a 12 month high of $70.92. The business has a 50-day moving average of $61.43 and a two-hundred day moving average of $59.17. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.41 and a quick ratio of 0.89. The stock has a market capitalization of $34.16 billion, a price-to-earnings ratio of 19.10 and a beta of 0.72.

Nutrien (NYSE:NTR) last released its earnings results on Wednesday, November 5th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.06. Nutrien had a net margin of 6.79% and a return on equity of 7.54%. The business had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.59 billion. During the same period last year, the company earned $0.39 earnings per share. The company’s quarterly revenue was up 12.3% on a year-over-year basis. On average, research analysts expect that Nutrien Ltd. will post 3.72 earnings per share for the current year.

Nutrien Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 16th. Shareholders of record on Wednesday, December 31st were issued a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Wednesday, December 31st. Nutrien’s dividend payout ratio (DPR) is 58.76%.

About Nutrien

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.