Price T Rowe Associates Inc. MD, a prominent institutional investor, has increased its position in Nutrien Ltd. (NYSE:NTR) during the first quarter of this year, as revealed in its recent 13F filing with the Securities and Exchange Commission (SEC). The company now owns 22,758,328 shares of Nutrien stock following the purchase of an additional 773,028 shares. This represents a 3.5% growth in their overall position. At the end of the quarter, Price T Rowe Associates Inc. MD possessed approximately 4.58% ownership of Nutrien, valued at $1,680,704,000.
Nutrien recently released its quarterly earnings report for the period ending on August 2nd. The company disclosed earnings per share of $2.53 for the quarter, falling short of analysts’ consensus estimates by $0.30. The reported revenue for this period was $11.65 billion, surpassing the consensus estimate of $11.04 billion.
However, compared to the previous year’s results, Nutrien experienced a decline in revenue by 19.7%. Despite this reduction in revenue, the company is still maintaining a net margin of 11.05% and a return on equity of 16.41%. In the same quarter last year, Nutrien earned $5.85 EPS.
Research analysts have offered their predictions for Nutrien’s future financial performance based on current data trends and market analysis. They estimate that Nutrien Ltd will post an earnings per share figure of 6.68 for the current fiscal year.
As an investing research team dedicated to providing thorough insights into various companies’ finances and performance metrics like Nutrien’s latest developments and performance reports through our most recent research report on our website.
Hedge Funds and Institutional Investors Make Moves on Nutrien Stock: An Overview of Recent Transactions and Analyst Ratings
September 10, 2023 – In recent months, various hedge funds have been making changes to their positions in Nutrien, a leading provider of agricultural inputs and services. Among the notable transactions, Covestor Ltd purchased a new position in Nutrien during the first quarter for a value of $30,000. Zions Bancorporation N.A. also increased its position in Nutrien by 55.2% during the same period, now owning 301 shares valued at $31,000 after purchasing an additional 107 shares.
Furthermore, GPS Wealth Strategies Group LLC acquired a new position in Nutrien in the first quarter with a worth of $29,000. CoreCap Advisors LLC followed suit with another new position in the fourth quarter valued at $31,000. Additionally, Assetmark Inc. witnessed significant growth in its ownership by acquiring 2,781.3% more shares during the first quarter. Assetmark Inc. currently holds 461 shares of Nutrien’s stock with a value of $34,000 after adding an additional 445 shares.
It is noteworthy that hedged funds and institutional investors currently own approximately 62.77% of Nutrien’s stock on the market.
On September 10th, Nutrien’s stock traded up at $0.42 during midday trading at $62.88 per share with a total trading volume of 661,784 shares exchanged hands compared to an average volume of 1,556,500 shares traded daily. The market capitalization stands at $31.09 billion with a price-to-earnings ratio of 8.83 and a price-to-earnings-growth ratio of 1.17,making it an intriguing investment opportunity for many market players seeking sustainable returns.
The company boasts stable performance indicators derived from its fifty-day moving average currently at $63.38 and its two-hundred-day moving average positioned slightly higher at $65.93. However, the stock’s value has been subject to volatility over the past year. Nutrien has witnessed a 12-month high of $95.72 per share while its 12-month low reached as low as $52.23.
Furthermore, Nutrien recently announced a quarterly dividend payment scheduled for Friday, October 13th. Shareholders of record on Friday, September 29th will be entitled to receive a dividend of $0.53 per share. The ex-dividend date is set for Thursday, September 28th. This announcement represents an annualized dividend of $2.12 per share and a yield of approximately 3.37%. Currently, Nutrien’s payout ratio stands at 29.78%.
The company’s performance has attracted considerable attention from research analysts who have closely followed its trajectory in recent months. Bank of America, for instance, has revised its target price downwards from $94.00 to $85.00 in a research report issued on June 8th.
In contrast, Wells Fargo & Company upgraded shares of Nutrien from an “equal weight” rating to an “overweight” rating and increased their price target range from $62.00 to $82.00 per share in a research note dated July 24th.
TD Securities decided to lower their price estimate from $83.00 to $81 and maintained a “buy” rating for the company in their research published on August 6th.
Similarly, BMO Capital Markets decreased their price objective from $110 to $90 per share in their report released on May 16th.
Lastly, Royal Bank of Canada reaffirmed an “outperform” rating and assigned a price objective of $85 for Nutrien in their analysis released on August 8th.
Overall, Nutrien currently enjoys an average rating of “Hold” among investment analysts according to Bloomberg data compiled from various sources.With a consensus price target of $79.79, the market sentiment remains cautiously optimistic about Nutrien’s potential in the coming months.
As always, investors are encouraged to conduct thorough due diligence and consider their risk tolerance and investment objectives before making any investment decisions related to Nutrien or any other security.