Daiwa Securities Group Inc. Invests $93,000 in Nutrien Ltd. (NYSE:NTR)

Daiwa Securities Group Inc. bought a new position in Nutrien Ltd. (NYSE:NTR) during the second quarter, Holdings Channel reports. The firm bought 1,832 shares of the company’s stock, valued at approximately $93,000.

A number of other hedge funds have also recently modified their holdings of the stock. Lester Murray Antman dba SimplyRich boosted its position in Nutrien by 2.3% during the second quarter. Lester Murray Antman dba SimplyRich now owns 9,069 shares of the company’s stock worth $461,000 after purchasing an additional 202 shares in the last quarter. Lindbrook Capital LLC boosted its position in Nutrien by 21.4% during the first quarter. Lindbrook Capital LLC now owns 1,179 shares of the company’s stock worth $64,000 after purchasing an additional 208 shares in the last quarter. Moody National Bank Trust Division boosted its position in Nutrien by 1.7% during the first quarter. Moody National Bank Trust Division now owns 12,582 shares of the company’s stock worth $683,000 after purchasing an additional 208 shares in the last quarter. FFT Wealth Management LLC boosted its position in Nutrien by 0.8% during the second quarter. FFT Wealth Management LLC now owns 29,220 shares of the company’s stock worth $1,488,000 after purchasing an additional 220 shares in the last quarter. Finally, Covestor Ltd raised its holdings in shares of Nutrien by 33.3% during the first quarter. Covestor Ltd now owns 932 shares of the company’s stock valued at $50,000 after acquiring an additional 233 shares during the last quarter. Hedge funds and other institutional investors own 63.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Wells Fargo & Company reduced their target price on Nutrien from $68.00 to $66.00 and set an “overweight” rating for the company in a report on Tuesday, July 16th. The Goldman Sachs Group cut Nutrien from a “buy” rating to a “neutral” rating and reduced their target price for the company from $69.00 to $53.00 in a report on Tuesday, September 10th. UBS Group reduced their target price on Nutrien from $67.00 to $66.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Barclays reduced their target price on Nutrien from $68.00 to $55.00 and set an “overweight” rating for the company in a report on Friday, August 16th. Finally, Mizuho cut their price target on Nutrien from $55.00 to $52.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Nutrien presently has a consensus rating of “Hold” and a consensus target price of $62.39.

Nutrien Price Performance

NTR stock opened at $46.92 on Wednesday. The business has a fifty day moving average of $48.11 and a two-hundred day moving average of $51.95. The company has a quick ratio of 0.82, a current ratio of 1.26 and a debt-to-equity ratio of 0.37. The stock has a market cap of $23.21 billion, a price-to-earnings ratio of 27.44, a price-to-earnings-growth ratio of 1.51 and a beta of 0.82. Nutrien Ltd. has a 52-week low of $44.65 and a 52-week high of $64.54.

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

Nutrien Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Friday, September 27th will be given a dividend of $0.54 per share. The ex-dividend date is Friday, September 27th. This represents a $2.16 annualized dividend and a dividend yield of 4.60%. Nutrien’s dividend payout ratio is currently 126.32%.

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.