Soroban Capital Partners LP Has $36.29 Million Holdings in Nutrien Ltd. (NYSE:NTR)

Soroban Capital Partners LP cut its position in shares of Nutrien Ltd. (NYSE:NTR) by 59.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 491,430 shares of the company’s stock after selling 729,575 shares during the quarter. Nutrien comprises about 0.5% of Soroban Capital Partners LP’s holdings, making the stock its 16th largest position. Soroban Capital Partners LP’s holdings in Nutrien were worth $36,292,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of NTR. BlackRock Inc. increased its position in shares of Nutrien by 79.6% during the first quarter. BlackRock Inc. now owns 3,490,036 shares of the company’s stock worth $362,929,000 after buying an additional 1,547,030 shares during the period. Vontobel Holding Ltd. acquired a new stake in shares of Nutrien during the first quarter worth $1,370,000. Sequoia Financial Advisors LLC acquired a new stake in shares of Nutrien during the first quarter worth $323,000. Candriam Luxembourg S.C.A. increased its position in shares of Nutrien by 5.7% during the first quarter. Candriam Luxembourg S.C.A. now owns 11,675 shares of the company’s stock worth $1,208,000 after buying an additional 629 shares during the period. Finally, Zions Bancorporation N.A. increased its position in shares of Nutrien by 55.2% during the first quarter. Zions Bancorporation N.A. now owns 301 shares of the company’s stock worth $31,000 after buying an additional 107 shares during the period. 62.77% of the stock is currently owned by institutional investors and hedge funds.

Nutrien Stock Performance

NTR stock traded up $0.08 during mid-day trading on Monday, hitting $62.96. The company had a trading volume of 539,284 shares, compared to its average volume of 2,330,016. The firm has a market cap of $31.13 billion, a PE ratio of 8.82, a price-to-earnings-growth ratio of 1.17 and a beta of 0.93. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.78 and a current ratio of 1.26. Nutrien Ltd. has a 12 month low of $52.23 and a 12 month high of $95.72. The stock’s fifty day moving average price is $63.38 and its two-hundred day moving average price is $65.85.

Nutrien (NYSE:NTR) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported $2.53 EPS for the quarter, missing the consensus estimate of $2.83 by ($0.30). The company had revenue of $11.65 billion during the quarter, compared to the consensus estimate of $11.04 billion. Nutrien had a return on equity of 16.41% and a net margin of 11.05%. The business’s revenue was down 19.7% on a year-over-year basis. During the same period in the prior year, the firm posted $5.85 EPS. On average, analysts forecast that Nutrien Ltd. will post 6.68 earnings per share for the current fiscal year.

Nutrien Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 3.37%. The ex-dividend date of this dividend is Thursday, September 28th. Nutrien’s dividend payout ratio (DPR) is currently 29.78%.

Analyst Upgrades and Downgrades

A number of research firms have commented on NTR. Stifel Nicolaus reduced their price target on shares of Nutrien from $75.00 to $73.00 in a report on Friday, June 30th. Berenberg Bank raised their price target on shares of Nutrien from $49.00 to $67.00 and gave the stock a “hold” rating in a report on Thursday. JPMorgan Chase & Co. reduced their price target on shares of Nutrien from $78.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, August 4th. TD Securities reduced their price objective on shares of Nutrien from $83.00 to $81.00 and set a “buy” rating for the company in a report on Sunday, August 6th. Finally, HSBC reduced their price objective on shares of Nutrien from $81.00 to $72.00 and set a “hold” rating for the company in a report on Wednesday, July 26th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $79.79.

About Nutrien

Nutrien Ltd. provides crop inputs and services. The company operates through Retail, Potash, Nitrogen, and Phosphate segments. The Retail segment distributes crop nutrients, crop protection products, seeds, and merchandise products. The Potash segment provides granular and standard potash products. The Nitrogen segment offers ammonia, urea, urea ammonium nitrate, industrial grade ammonium nitrate, and ammonium sulfate.