Pacific Heights Asset Management LLC Buys New Position in Nutrien Ltd. $NTR

Pacific Heights Asset Management LLC purchased a new position in Nutrien Ltd. (NYSE:NTR) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 400,000 shares of the company’s stock, valued at approximately $25,180,000. Pacific Heights Asset Management LLC owned about 0.08% of Nutrien at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Montag A & Associates Inc. lifted its position in Nutrien by 310.7% in the 4th quarter. Montag A & Associates Inc. now owns 423 shares of the company’s stock worth $26,000 after buying an additional 320 shares during the last quarter. Evolution Wealth Management Inc. bought a new position in Nutrien during the first quarter valued at approximately $32,000. Global Retirement Partners LLC bought a new position in Nutrien during the second quarter valued at approximately $30,000. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Nutrien by 1,014.0% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 479 shares of the company’s stock worth $30,000 after acquiring an additional 436 shares in the last quarter. Finally, Allied Private Wealth LLC purchased a new position in shares of Nutrien during the second quarter worth approximately $33,000. Hedge funds and other institutional investors own 63.10% of the company’s stock.

Nutrien Stock Performance

Shares of Nutrien stock opened at $73.17 on Friday. Nutrien Ltd. has a 12 month low of $53.03 and a 12 month high of $85.36. The firm has a market capitalization of $35.00 billion, a P/E ratio of 14.81, a P/E/G ratio of 0.74 and a beta of 0.61. The company has a current ratio of 1.39, a quick ratio of 0.86 and a debt-to-equity ratio of 0.36. The business has a fifty day simple moving average of $67.12 and a two-hundred day simple moving average of $70.54.

Nutrien (NYSE:NTR) last posted its earnings results on Wednesday, August 5th. The company reported $2.61 EPS for the quarter, missing analysts’ consensus estimates of $2.70 by ($0.09). Nutrien had a return on equity of 8.88% and a net margin of 8.44%.The business had revenue of $10.81 billion during the quarter, compared to the consensus estimate of $10.44 billion. During the same period in the previous year, the business posted $2.65 EPS. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, equities analysts forecast that Nutrien Ltd. will post 4.95 earnings per share for the current fiscal year.

Nutrien Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Tuesday, September 29th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 3.0%. The ex-dividend date is Tuesday, September 29th. Nutrien’s dividend payout ratio (DPR) is presently 44.53%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on NTR shares. 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 note on Thursday, April 30th. Morgan Stanley decreased their price target on Nutrien from $93.00 to $81.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 7th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Nutrien in a research report on Monday, August 10th. Oppenheimer dropped their price objective on Nutrien from $82.00 to $80.00 and set an “outperform” rating for the company in a research note on Thursday, July 23rd. Finally, Scotiabank upgraded shares of Nutrien from a “sector perform” rating to a “sector outperform” rating and set a $80.00 target price on the stock in a report on Tuesday, June 30th. Seventeen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Nutrien presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.58.

Nutrien 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.