In the second quarter of this year, Y.D. More Investments Ltd, a prominent investment firm, made substantial changes to its stake in Nutrien Ltd. The company reduced its holdings in Nutrien by a significant 85.6%, according to the filing submitted to the Securities and Exchange Commission (SEC). The precise number of shares that were sold amounted to 9,251, leaving Y.D. More Investments Ltd with 1,561 shares at the end of the period. These shares from Nutrien were estimated to be worth $92,000.
Nutrien Ltd., listed on the New York Stock Exchange (NYSE:NTR), is a Canadian fertilizer producer and agricultural supplier. It is renowned for its global presence and services catering to various aspects of crop nutrition for farmers around the world.
Apart from these changes in stakeholding, Nutrien also announced its quarterly dividend during this period. Shareholders who hold their position until Friday, September 29th will be entitled to a dividend payment of $0.53 per share on Friday, October 13th. The annualized dividend calculated based on this amount stands at $2.12 per share. With a yield of 3.38%, investors can expect returns from holding this stock.
It is important for potential investors to note that Thursday, September 28th marks an important date – it is the ex-dividend date for this particular dividend declaration by Nutrien Ltd. From that point onwards, anyone acquiring shares in Nutrien will not be eligible for this round of dividends.
At present, Nutrien’s payout ratio stands at 29.78%. This means that the company currently allocates approximately 30% of its earnings towards paying dividends to shareholders.
While these recent developments highlight interesting shifts in ownership and dividend particulars relating to Nutrien Ltd., it should be noted that investment decisions must always consider a range of factors including individual risk appetite and objectives.
With its extensive presence in the agricultural industry and strong track record, Nutrien Ltd. offers potential investment opportunities for those looking to capitalize on global crop nutrition needs.
Updated on: 28/09/2023
Debt to equity ratio: Strong Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Strong Buy
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Nutrien Ltd. Sees Changes in Shareholdings and Mixed Analyst Ratings
September 19, 2023 – Nutrien Ltd., a leading global supplier of crop nutrients and services, has recently seen changes in its shareholdings by several institutional investors and hedge funds. GPS Wealth Strategies Group LLC purchased a new stake in the company during the first quarter, valued at $29,000. Similarly, Covestor Ltd also acquired a new stake worth about $30,000. CoreCap Advisors LLC followed suit and acquired a new stake worth approximately $31,000 during the fourth quarter. Zions Bancorporation N.A. significantly boosted its stake in Nutrien by 55.2% during the first quarter and now owns 301 shares valued at $31,000. Assetmark Inc., on the other hand, saw exponential growth in its holdings of Nutrien shares after purchasing an additional 445 shares in the last quarter, resulting in a staggering increase of 2,781.3%.
These investments from hedge funds and institutional investors collectively account for 62.77% ownership of Nutrien’s stock.
Despite these recent changes to shareholdings, equities analysts have expressed their perspectives on Nutrien’s stock. Mizuho revised their price target from $75.00 to $74.00 and provided a “neutral” rating for the company based on their research report issued on July 31st. HSBC also lowered their target price from $81.00 to $72.00 and maintained a “hold” rating for Nutrien in a research note released on July 26th.
However, Royal Bank of Canada remains optimistic about Nutrien’s potential as they reaffirmed their “outperform” rating with a price target of $85.00 in August this year, shortly followed by Piper Sandler who boosted their price objective to $73.00, describing the stock as “neutral.” Berenberg Bank further increased their target price from $49.00 to $67.00 and maintained a “hold” rating in early September.
Overall, consensus among analysts, according to Bloomberg, currently indicates a “Hold” rating for Nutrien with an average target price of $79.79.
As of Tuesday, shares of NTR stock opened at $62.65. The stock’s 50-day moving average stands at $63.72 while its two-hundred day moving average is $65.35. With a debt-to-equity ratio of 0.37 and a quick ratio of 0.78, Nutrien’s financials appear relatively stable. The company’s market capitalization is valued at $30.98 billion with a price-to-earnings ratio of 8.80 and a beta of 0.93.
Nutrien reported its quarterly earnings results on August 2nd, revealing earnings per share (EPS) of $2.53 for the quarter. This figure fell short of analysts’ consensus estimates by ($0.30), which projected EPS to be $2.83 for the period. Nutrien boasted a return on equity of 16.41% alongside a net margin of 11.05%. Additionally, the company’s revenue for the quarter totaled $11.65 billion compared to analysts’ expectations of $11.04 billion – a decrease of 19.7% from the same quarter last year when they had earned an EPS of $5.
Despite these figures, analysts forecast that Nutrien Ltd.’s earnings per share will amount to 6.34 for the current year.
In conclusion, Nutrien Ltd.’s recent changes in shareholdings by institutional investors and hedge funds signify their confidence in the company’s prospects within the crop nutrients sector and agribusiness industry as a whole, despite fluctuations in stock prices and ratings from various equities analysts.
Disclaimer: This article is intended for informational purposes only and should not be construed as financial advice.