Noesis Capital Mangement Corp grew its stake in Nutrien Ltd (NYSE:NTR) by 11.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 55,655 shares of the company’s stock after acquiring an additional 5,565 shares during the quarter. Nutrien accounts for 1.0% of Noesis Capital Mangement Corp’s holdings, making the stock its 28th biggest position. Noesis Capital Mangement Corp’s holdings in Nutrien were worth $2,975,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently made changes to their positions in the company. Icon Wealth Partners LLC acquired a new position in shares of Nutrien in the 1st quarter valued at approximately $35,000. Bessemer Group Inc. grew its position in shares of Nutrien by 354.4% in the 2nd quarter. Bessemer Group Inc. now owns 727 shares of the company’s stock valued at $39,000 after purchasing an additional 567 shares during the period. Liberty Wealth Management LLC grew its position in shares of Nutrien by 340.5% in the 2nd quarter. Liberty Wealth Management LLC now owns 740 shares of the company’s stock valued at $40,000 after purchasing an additional 572 shares during the period. FTB Advisors Inc. grew its position in shares of Nutrien by 29.9% in the 1st quarter. FTB Advisors Inc. now owns 882 shares of the company’s stock valued at $46,000 after purchasing an additional 203 shares during the period. Finally, Coastal Investment Advisors Inc. grew its position in shares of Nutrien by 63.8% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 929 shares of the company’s stock valued at $49,000 after purchasing an additional 362 shares during the period. 66.63% of the stock is owned by institutional investors.
Several equities analysts recently issued reports on NTR shares. Citigroup set a $61.00 price objective on Nutrien and gave the company a “buy” rating in a research report on Wednesday, July 31st. TD Securities upped their price target on Nutrien from $68.00 to $69.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Raymond James reaffirmed a “strong-buy” rating and set a $70.00 price target on shares of Nutrien in a research report on Tuesday, July 30th. BMO Capital Markets set a $60.00 price target on Nutrien and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Bank of America raised Nutrien from an “underperform” rating to a “neutral” rating in a research report on Friday, August 16th. Six research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $62.00.
Nutrien (NYSE:NTR) last announced its quarterly earnings data on Monday, July 29th. The company reported $1.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.59 by ($0.01). The firm had revenue of $8.66 billion during the quarter, compared to the consensus estimate of $8.17 billion. During the same quarter in the prior year, the company posted $1.48 EPS. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. Analysts anticipate that Nutrien Ltd will post 2.85 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.45 per share. The ex-dividend date is Friday, September 27th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.63%. This is a boost from Nutrien’s previous quarterly dividend of $0.43. Nutrien’s dividend payout ratio is currently 63.94%.
Nutrien Ltd. produces and markets crop nutrients to agricultural, industrial, and feed customers worldwide. It operates in four segments: Retail, Potash, Nitrogen, and Phosphate and Sulfate. The company offers potash, nitrogen, phosphate, and sulfate products. It also distributes crop nutrients, crop protection products, seeds, and merchandise products through operating 1,700 retail locations.
Further Reading: What is the Ex-Dividend Date in Investing?
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