Sumitomo Mitsui Trust Group Inc. Buys 5,666 Shares of Nutrien Ltd. (NYSE:NTR)

Sumitomo Mitsui Trust Group Inc. grew its stake in Nutrien Ltd. (NYSE:NTR) by 5.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,734 shares of the company’s stock after acquiring an additional 5,666 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Nutrien were worth $5,252,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in NTR. Fairway Wealth LLC bought a new position in Nutrien in the 4th quarter worth about $27,000. Assetmark Inc. increased its holdings in Nutrien by 1,437.5% during the fourth quarter. Assetmark Inc. now owns 738 shares of the company’s stock valued at $33,000 after buying an additional 690 shares during the period. GAMMA Investing LLC increased its holdings in Nutrien by 4,866.7% during the first quarter. GAMMA Investing LLC now owns 1,043 shares of the company’s stock valued at $52,000 after buying an additional 1,022 shares during the period. Lindbrook Capital LLC increased its holdings in Nutrien by 50.6% during the fourth quarter. Lindbrook Capital LLC now owns 1,247 shares of the company’s stock valued at $56,000 after buying an additional 419 shares during the period. Finally, Summit Securities Group LLC increased its holdings in Nutrien by 225.0% during the fourth quarter. Summit Securities Group LLC now owns 1,300 shares of the company’s stock valued at $58,000 after buying an additional 900 shares during the period. 63.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on NTR shares. TD Securities lifted their price objective on shares of Nutrien from $64.00 to $67.00 and gave the company a “buy” rating in a report on Monday, May 12th. Morgan Stanley lifted their price objective on shares of Nutrien from $60.00 to $65.00 and gave the company an “equal weight” rating in a report on Thursday, June 26th. Barclays lifted their price objective on shares of Nutrien from $59.00 to $61.00 and gave the company an “equal weight” rating in a report on Wednesday, May 14th. Oppenheimer lifted their price objective on shares of Nutrien from $58.00 to $63.00 and gave the company an “outperform” rating in a report on Tuesday, May 13th. Finally, Royal Bank Of Canada lifted their price objective on shares of Nutrien from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Monday, May 12th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Nutrien currently has a consensus rating of “Hold” and a consensus target price of $62.12.

Nutrien Trading Up 0.7%

NYSE NTR opened at $60.43 on Friday. The company has a fifty day simple moving average of $58.82 and a two-hundred day simple moving average of $53.16. The stock has a market cap of $29.43 billion, a P/E ratio of 56.47, a P/E/G ratio of 1.14 and a beta of 0.80. Nutrien Ltd. has a 12-month low of $43.70 and a 12-month high of $65.08. The company has a current ratio of 1.22, a quick ratio of 0.59 and a debt-to-equity ratio of 0.41.

Nutrien (NYSE:NTR) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.24). The company had revenue of $4.67 billion during the quarter, compared to analysts’ expectations of $5.16 billion. Nutrien had a return on equity of 6.08% and a net margin of 2.05%. The company’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.46 EPS. On average, analysts forecast that Nutrien Ltd. will post 3.72 earnings per share for the current year.

Nutrien Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 18th. Investors of record on Monday, June 30th will be given a $0.545 dividend. The ex-dividend date is Monday, June 30th. This represents a $2.18 dividend on an annualized basis and a yield of 3.61%. Nutrien’s dividend payout ratio is currently 203.74%.

Nutrien Profile

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.