5 Fertilizer Stocks to Buy Today

4. Nutrien Ltd. (NYSE:NTR)

Number of Hedge Fund Holders: 36

Nutrien Ltd. (NYSE:NTR) is a Canadian company that supplies potash, nitrogen, phosphate, and sulfate products for crop protection. Nutrien Ltd. (NYSE:NTR) has been one of the top agribusiness gainers amid the Russia-Ukraine war, climbing roughly 38% in the last month. 

On March 22, Citi analyst P.J. Juvekar raised the price target on Nutrien Ltd. (NYSE:NTR) to $126 from $89 and kept a ‘Buy’ rating on the shares. According to the analyst, the war in Ukraine has caused fertilizer prices to soar, given supply concerns in already tight markets. He increased base-case estimates on fertilizer names to account for the continuously high price dynamics.

Nutrien Ltd. (NYSE:NTR) declared a quarterly dividend of $0.48 per share on February 16, a 4.3% increase from its prior dividend of $0.46. The dividend is payable on April 14, for shareholders of record on March 31. 

The Q4 database of Insider Monkey reveals that 36 hedge funds were bullish on Nutrien Ltd. (NYSE:NTR), up from 30 funds in the earlier quarter. First Eagle Investment Management is the biggest shareholder of Nutrien Ltd. (NYSE:NTR), owning 11.3 million shares worth $853.2 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.”