K.J. Harrison & Partners Inc Raises Holdings in Nutrien Ltd. $NTR

K.J. Harrison & Partners Inc grew its holdings in Nutrien Ltd. (NYSE:NTR) by 86.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 118,796 shares of the company’s stock after purchasing an additional 55,140 shares during the period. Nutrien comprises about 1.0% of K.J. Harrison & Partners Inc’s investment portfolio, making the stock its 25th biggest holding. K.J. Harrison & Partners Inc’s holdings in Nutrien were worth $7,095,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Nutrien by 0.4% during the third quarter. Vanguard Group Inc. now owns 21,983,443 shares of the company’s stock valued at $1,291,022,000 after purchasing an additional 80,135 shares in the last quarter. First Eagle Investment Management LLC increased its holdings in Nutrien by 14.0% in the 2nd quarter. First Eagle Investment Management LLC now owns 13,268,229 shares of the company’s stock worth $772,742,000 after buying an additional 1,627,328 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in Nutrien by 48.5% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 11,944,730 shares of the company’s stock worth $696,058,000 after buying an additional 3,900,755 shares during the last quarter. TD Asset Management Inc lifted its stake in Nutrien by 16.5% during the 3rd quarter. TD Asset Management Inc now owns 7,368,861 shares of the company’s stock valued at $432,838,000 after acquiring an additional 1,043,766 shares during the period. Finally, Norges Bank bought a new position in Nutrien during the 2nd quarter valued at about $395,842,000. 63.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on NTR shares. Scotiabank lifted their price target on shares of Nutrien from $63.00 to $70.00 and gave the stock a “sector perform” rating in a research note on Monday, February 2nd. BNP Paribas Exane cut shares of Nutrien from an “outperform” rating to a “neutral” rating in a report on Monday. Wells Fargo & Company lifted their target price on shares of Nutrien from $64.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Friday, February 20th. Morgan Stanley raised Nutrien from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $70.00 to $77.00 in a report on Wednesday, January 14th. Finally, Jefferies Financial Group raised their price target on Nutrien from $60.00 to $74.00 and gave the stock a “hold” rating in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $71.47.

Nutrien Stock Down 0.4%

NTR opened at $72.48 on Thursday. The firm’s 50 day simple moving average is $66.83 and its two-hundred day simple moving average is $61.00. The company has a market capitalization of $34.90 billion, a PE ratio of 15.55 and a beta of 0.73. Nutrien Ltd. has a 1-year low of $45.78 and a 1-year high of $73.55. The company has a current ratio of 1.34, a quick ratio of 0.70 and a debt-to-equity ratio of 0.37.

Nutrien (NYSE:NTR) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.04). Nutrien had a net margin of 8.43% and a return on equity of 8.41%. The business had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $5.26 billion. During the same period in the previous year, the firm earned $0.31 EPS. The company’s revenue was up 5.1% on a year-over-year basis. As a group, equities analysts forecast that Nutrien Ltd. will post 3.72 EPS for the current year.

Nutrien Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 16th. Stockholders of record on Tuesday, March 31st will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 3.0%. This is an increase from Nutrien’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Tuesday, March 31st. Nutrien’s dividend payout ratio is 46.78%.

Nutrien Company Profile

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.