K.J. Harrison & Partners Inc Buys New Stake in Nutrien Ltd. $NTR

K.J. Harrison & Partners Inc acquired a new stake in Nutrien Ltd. (NYSE:NTR) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 75,327 shares of the company’s stock, valued at approximately $4,736,000.

Other large investors have also recently added to or reduced their stakes in the company. Montag A & Associates Inc. increased its position in shares of Nutrien by 310.7% during the fourth quarter. Montag A & Associates Inc. now owns 423 shares of the company’s stock worth $26,000 after acquiring an additional 320 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Nutrien by 1,014.0% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 479 shares of the company’s stock valued at $30,000 after acquiring an additional 436 shares during the last quarter. Global Retirement Partners LLC acquired a new stake in Nutrien during the second quarter worth approximately $30,000. Evolution Wealth Management Inc. acquired a new stake in Nutrien during the 1st quarter worth $32,000. Finally, Allied Private Wealth LLC acquired a new stake in shares of Nutrien during the second quarter worth about $33,000. 63.10% of the stock is owned by hedge funds and other institutional investors.

Nutrien Stock Up 0.1%

Shares of NYSE:NTR opened at $68.33 on Tuesday. Nutrien Ltd. has a 12-month low of $53.03 and a 12-month high of $85.36. The stock’s 50-day moving average price is $65.94 and its two-hundred day moving average price is $70.37. The firm has a market cap of $32.69 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 0.68 and a beta of 0.61. The company has a current ratio of 1.39, a quick ratio of 0.86 and a debt-to-equity ratio of 0.36.

Nutrien (NYSE:NTR) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $2.61 EPS 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 company had revenue of $10.81 billion for the quarter, compared to analyst estimates of $10.44 billion. During the same period last year, the company posted $2.65 EPS. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, research analysts forecast that Nutrien Ltd. will post 5.01 EPS for the current year.

Nutrien Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Tuesday, September 29th will be issued a dividend of $0.55 per share. The ex-dividend date is Tuesday, September 29th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.2%. Nutrien’s payout ratio is presently 44.53%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NTR. Morgan Stanley cut their target price on shares of Nutrien from $93.00 to $81.00 and set an “overweight” rating on the stock in a report on Tuesday, July 7th. Wall Street Zen cut Nutrien from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Nutrien in a report on Monday, August 10th. Mizuho decreased their target price on Nutrien from $77.00 to $75.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 14th. Finally, Berenberg Bank set a $65.00 price target on shares of Nutrien and gave the company a “hold” rating in a research report on Wednesday, June 10th. Seventeen investment 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. According to data from MarketBeat, Nutrien currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.58.

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.