5 Best Fertilizer Stocks to Buy According to Hedge Funds

2. Nutrien Ltd. (NYSE:NTR)

Number of Hedge Fund Holders: 52

Nutrien Ltd. (NYSE:NTR) is a Canadian company that provides potash, nitrogen, phosphate, and sulfate products. The company operates in the United States, Canada, South America, and Australia. On November 3, Nutrien Ltd. (NYSE:NTR) declared a $0.48 per share quarterly dividend, in line with previous. The dividend is payable on January 13, 2023 to shareholders of record on December 30. 

On November 17, Barclays analyst Benjamin Theurer reaffirmed an Overweight rating on Nutrien Ltd. (NYSE:NTR) but lowered the firm’s price target on the shares to $95 from $105 following the Q3 results.

According to the third quarter database of Insider Monkey, 52 hedge funds were long Nutrien Ltd. (NYSE:NTR), compared to 48 funds in the prior quarter. Jean-Marie Eveillard’s First Eagle Investment Management is the biggest stakeholder of the company, with 8.4 million shares worth $701.7 million. 

Here is what Miller/Howard Investments had to say about Nutrien Ltd. (NYSE:NTR) in its Q1 2021 investor letter:

“For the most part, performance of the stocks within the Income-Equity Strategies was skewed towards the high-performing market sectors with two exceptions – our consumer discretionary and technology stocks both did better than their broad market peers… We bought Nutrien (NTR), a producer of fertilizer, which we believe should benefit from increasing crop prices.”

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