Nutrien Ltd. (NYSE:NTR) Stake Lifted by Seven Eight Capital LP

Seven Eight Capital LP increased its position in shares of Nutrien Ltd. (NYSE:NTR) by 54.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,791 shares of the company’s stock after purchasing an additional 2,733 shares during the period. Seven Eight Capital LP’s holdings in Nutrien were worth $397,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Family Firm Inc. bought a new stake in shares of Nutrien in the 2nd quarter worth $32,000. GoalVest Advisory LLC bought a new stake in Nutrien in the first quarter worth about $35,000. Trust Co. of Vermont boosted its position in shares of Nutrien by 50.0% during the 2nd quarter. Trust Co. of Vermont now owns 900 shares of the company’s stock valued at $46,000 after purchasing an additional 300 shares in the last quarter. Covestor Ltd boosted its position in shares of Nutrien by 33.3% during the 1st quarter. Covestor Ltd now owns 932 shares of the company’s stock valued at $50,000 after purchasing an additional 233 shares in the last quarter. Finally, Andra AP fonden bought a new stake in shares of Nutrien in the 2nd quarter worth approximately $51,000. 63.10% of the stock is currently owned by institutional investors and hedge funds.

Nutrien Price Performance

Shares of NYSE:NTR opened at $47.06 on Monday. The firm has a market cap of $23.28 billion, a price-to-earnings ratio of 27.52, a P/E/G ratio of 1.53 and a beta of 0.82. Nutrien Ltd. has a 1 year low of $44.65 and a 1 year high of $63.60. The company has a current ratio of 1.26, a quick ratio of 0.82 and a debt-to-equity ratio of 0.37. The business has a fifty day simple moving average of $48.00 and a 200 day simple moving average of $51.86.

Nutrien (NYSE:NTR) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $2.34 earnings per share for the quarter, topping analysts’ consensus estimates of $2.19 by $0.15. The company had revenue of $10.16 billion during the quarter, compared to the consensus estimate of $10.82 billion. Nutrien had a return on equity of 6.91% and a net margin of 2.97%. The business’s quarterly revenue was down 12.9% on a year-over-year basis. During the same period last year, the business earned $2.53 EPS. As a group, sell-side analysts predict that Nutrien Ltd. will post 3.81 earnings per share for the current fiscal year.

Nutrien Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Friday, September 27th will be paid a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.16 annualized dividend and a dividend yield of 4.59%. Nutrien’s dividend payout ratio (DPR) is presently 126.32%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Barclays reduced their target price on shares of Nutrien from $68.00 to $55.00 and set an “overweight” rating for the company in a report on Friday, August 16th. Royal Bank of Canada restated an “outperform” rating and issued a $60.00 target price on shares of Nutrien in a report on Friday. TD Securities reduced their target price on Nutrien from $69.00 to $67.00 and set a “buy” rating for the company in a report on Thursday, August 1st. HSBC lowered Nutrien from a “hold” rating to a “reduce” rating in a research report on Friday, August 2nd. Finally, Piper Sandler cut their price objective on Nutrien from $56.00 to $55.00 and set an “underweight” rating on the stock in a report on Tuesday, June 11th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $62.39.

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.