Purpose Unlimited Inc. Makes New $10.45 Million Investment in Nutrien Ltd. $NTR

Purpose Unlimited Inc. bought a new stake in Nutrien Ltd. (NYSE:NTR) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 169,225 shares of the company’s stock, valued at approximately $10,445,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Montag A & Associates Inc. lifted its holdings in shares of Nutrien by 310.7% during the 4th quarter. Montag A & Associates Inc. now owns 423 shares of the company’s stock worth $26,000 after acquiring an additional 320 shares during the period. Sfam LLC bought a new position in Nutrien in the fourth quarter valued at approximately $37,000. Eastern Bank increased its stake in Nutrien by 133.0% in the fourth quarter. Eastern Bank now owns 699 shares of the company’s stock valued at $43,000 after acquiring an additional 399 shares during the last quarter. Harbour Investments Inc. raised its position in Nutrien by 97.2% during the fourth quarter. Harbour Investments Inc. now owns 704 shares of the company’s stock valued at $43,000 after purchasing an additional 347 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its position in Nutrien by 42.4% during the second quarter. Geneos Wealth Management Inc. now owns 735 shares of the company’s stock valued at $43,000 after purchasing an additional 219 shares in the last quarter. 63.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on NTR shares. JPMorgan Chase & Co. raised their target price on Nutrien from $78.00 to $80.00 and gave the company an “overweight” rating in a report on Monday, May 11th. TD Securities reissued a “buy” rating on shares of Nutrien in a report on Wednesday, May 6th. Weiss Ratings upgraded Nutrien from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, June 1st. Wall Street Zen downgraded Nutrien from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, BNP Paribas Exane lowered Nutrien from an “outperform” rating to a “neutral” rating in a research note on Monday, February 23rd. Eleven analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Nutrien has a consensus rating of “Moderate Buy” and a consensus price target of $81.71.

Nutrien Price Performance

Shares of NTR opened at $62.89 on Friday. The business has a 50-day moving average of $70.21 and a 200-day moving average of $69.42. 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 company has a market capitalization of $30.14 billion, a price-to-earnings ratio of 12.81, a price-to-earnings-growth ratio of 0.58 and a beta of 0.60. Nutrien Ltd. has a 1 year low of $53.03 and a 1 year high of $85.36.

Nutrien (NYSE:NTR) last announced its earnings results on Wednesday, May 6th. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.48 by $0.03. The business had revenue of $6.05 billion for the quarter, compared to analysts’ expectations of $5.30 billion. Nutrien had a return on equity of 8.84% and a net margin of 8.58%.The firm’s revenue was up 18.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.11 earnings per share. As a group, equities research analysts anticipate that Nutrien Ltd. will post 5.45 earnings per share for the current year.

Nutrien Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Tuesday, June 30th will be given a $0.55 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.5%. Nutrien’s payout ratio is 44.81%.

Nutrien Company Profile

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.