Korea Investment CORP Buys Shares of 264,260 Nutrien Ltd. $NTR

Korea Investment CORP purchased a new stake in Nutrien Ltd. (NYSE:NTR) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 264,260 shares of the company’s stock, valued at approximately $16,643,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Wellington Management Group LLP raised its position in shares of Nutrien by 440.2% during the fourth quarter. Wellington Management Group LLP now owns 16,338,606 shares of the company’s stock valued at $1,008,713,000 after buying an additional 13,313,817 shares during the last quarter. Deutsche Bank AG acquired a new stake in Nutrien during the second quarter worth about $588,720,000. Norges Bank bought a new position in Nutrien during the fourth quarter valued at about $412,635,000. BlackRock Inc. bought a new position in Nutrien during the second quarter valued at about $220,942,000. Finally, TD Asset Management Inc raised its holdings in Nutrien by 21.2% in the 4th quarter. TD Asset Management Inc now owns 8,928,534 shares of the company’s stock valued at $551,821,000 after acquiring an additional 1,559,673 shares in the last quarter. 63.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NTR has been the topic of a number of recent research reports. Scotiabank raised Nutrien from a “sector perform” rating to a “sector outperform” rating and set a $80.00 price objective on the stock in a report on Tuesday, June 30th. Barclays reduced their price target on shares of Nutrien from $81.00 to $78.00 and set an “overweight” rating on the stock in a research report on Monday, August 10th. Scotia upgraded Nutrien from a “sector perform” rating to a “sector outperform” rating and set a $80.00 target price on the stock in a report on Tuesday, June 30th. BNP Paribas Exane raised Nutrien from a “neutral” rating to an “outperform” rating and set a $80.00 price target for the company in a report on Tuesday, July 28th. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Nutrien in a research note on Monday, August 10th. Seventeen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $81.58.

Nutrien Price Performance

Nutrien stock opened at $75.36 on Monday. The business’s 50-day simple moving average is $66.42 and its 200 day simple moving average is $70.43. The company has a quick ratio of 0.86, a current ratio of 1.39 and a debt-to-equity ratio of 0.36. The stock has a market cap of $36.05 billion, a price-to-earnings ratio of 15.26, a P/E/G ratio of 0.76 and a beta of 0.61. Nutrien Ltd. has a 12-month low of $53.03 and a 12-month high of $85.36.

Nutrien (NYSE:NTR) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $2.61 earnings per share for the quarter, missing the consensus estimate of $2.70 by ($0.09). Nutrien had a return on equity of 8.88% and a net margin of 8.44%.The firm had revenue of $10.81 billion for the quarter, compared to the consensus estimate of $10.44 billion. During the same period in the prior year, the firm posted $2.65 earnings per share. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, research analysts anticipate that Nutrien Ltd. will post 4.95 earnings per share for the current year.

Nutrien Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Tuesday, September 29th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 2.9%. The ex-dividend date is Tuesday, September 29th. Nutrien’s dividend payout ratio is currently 44.53%.

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.