Pacific Heights Asset Management LLC increased its holdings in shares of Nutrien Ltd. (NYSE:NTR – Free Report) by 33.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 400,000 shares of the company’s stock after purchasing an additional 100,000 shares during the quarter. Pacific Heights Asset Management LLC’s holdings in Nutrien were worth $24,688,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Smith Moore & CO. increased its position in shares of Nutrien by 2.2% during the 3rd quarter. Smith Moore & CO. now owns 7,642 shares of the company’s stock worth $449,000 after purchasing an additional 168 shares during the last quarter. AMG National Trust Bank increased its position in shares of Nutrien by 4.0% during the 3rd quarter. AMG National Trust Bank now owns 4,986 shares of the company’s stock worth $293,000 after purchasing an additional 193 shares during the last quarter. Bessemer Group Inc. increased its position in shares of Nutrien by 27.7% during the 3rd quarter. Bessemer Group Inc. now owns 937 shares of the company’s stock worth $55,000 after purchasing an additional 203 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of Nutrien by 11.5% during the 4th quarter. Farther Finance Advisors LLC now owns 2,103 shares of the company’s stock worth $130,000 after purchasing an additional 217 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its position in Nutrien by 42.4% in the 2nd quarter. Geneos Wealth Management Inc. now owns 735 shares of the company’s stock valued at $43,000 after acquiring an additional 219 shares in the last quarter. 63.10% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on the company. Barclays lifted their target price on Nutrien from $70.00 to $80.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 3rd. Scotiabank lifted their target price on Nutrien from $75.00 to $80.00 and gave the company a “sector perform” rating in a research report on Monday, May 11th. Wall Street Zen downgraded Nutrien from a “buy” rating to a “hold” rating in a research report on Saturday. Bank of America raised Nutrien from a “neutral” rating to a “buy” rating and set a $82.00 target price for the company in a research report on Thursday, April 30th. Finally, JPMorgan Chase & Co. lifted their target price on Nutrien from $78.00 to $80.00 and gave the company an “overweight” rating in a research report on Monday, May 11th. Eleven equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $82.75.
Nutrien Stock Performance
NYSE NTR opened at $71.60 on Monday. The company has a market cap of $34.42 billion, a P/E ratio of 14.58 and a beta of 0.64. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.24 and a quick ratio of 0.59. The stock has a 50-day moving average of $74.55 and a two-hundred day moving average of $67.53. Nutrien Ltd. has a 1-year low of $53.03 and a 1-year high of $85.36.
Nutrien (NYSE:NTR – Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.03. Nutrien had a return on equity of 8.84% and a net margin of 8.58%.The business had revenue of $6.05 billion during the quarter, compared to analysts’ expectations of $5.30 billion. During the same quarter last year, the business posted $0.11 EPS. The business’s quarterly revenue was up 18.5% compared to the same quarter last year. As a group, analysts anticipate that Nutrien Ltd. will post 5.42 EPS for the current year.
Nutrien Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.1%. Nutrien’s payout ratio is currently 44.81%.
About Nutrien
Nutrien Ltd. is a global fertilizer and agricultural-services company headquartered in Saskatoon, Saskatchewan, Canada. The company is publicly traded and operates across the farm input value chain, combining upstream fertilizer production with a broad retail and services platform aimed at supporting crop production worldwide. Nutrien’s business model integrates the manufacture and distribution of crop nutrients with on-the-ground agronomic support for growers and agricultural businesses.
Nutrien produces and supplies the three primary fertilizer nutrients—potash, nitrogen and phosphate—through its wholesale operations, and markets a wide range of crop inputs including seeds and crop protection products.
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