Pacific Heights Asset Management LLC Makes New Investment in Nutrien Ltd. $NTR

Pacific Heights Asset Management LLC bought a new stake in shares of Nutrien Ltd. (NYSE:NTR) in the second quarter, HoldingsChannel.com reports. The firm bought 400,000 shares of the company’s stock, valued at approximately $25,180,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Montag A & Associates Inc. boosted its stake in shares of 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. purchased a new stake in Nutrien during the first quarter valued at $32,000. Global Retirement Partners LLC bought a new position in Nutrien in the second quarter valued at about $30,000. Thurston Springer Miller Herd & Titak Inc. boosted its position in Nutrien by 1,014.0% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 479 shares of the company’s stock worth $30,000 after purchasing an additional 436 shares during the last quarter. Finally, Allied Private Wealth LLC bought a new stake in shares of Nutrien during the 2nd quarter valued at about $33,000. 63.10% of the stock is owned by institutional investors.

Nutrien Price Performance

Shares of NYSE:NTR opened at $73.17 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.39 and a quick ratio of 0.86. Nutrien Ltd. has a 1-year low of $53.03 and a 1-year high of $85.36. The company 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 firm’s 50 day simple moving average is $67.12 and its two-hundred day simple moving average is $70.54.

Nutrien (NYSE:NTR) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $2.61 earnings per share 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 firm had revenue of $10.81 billion during the quarter, compared to the consensus estimate of $10.44 billion. During the same quarter in the previous year, the company earned $2.65 earnings per share. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. Research analysts expect that Nutrien Ltd. will post 4.95 EPS for the current fiscal year.

Nutrien Dividend Announcement

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

Analyst Ratings Changes

Several brokerages have recently weighed in on NTR. Bank of America upgraded shares of Nutrien from a “neutral” rating to a “buy” rating and set a $82.00 price objective on the stock in a research note on Thursday, April 30th. Weiss Ratings upgraded shares of Nutrien from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. National Bank Financial reduced their price objective on Nutrien from $76.00 to $74.00 and set an “outperform” rating for the company in a research note on Monday, August 10th. Barclays decreased their target price on Nutrien from $81.00 to $78.00 and set an “overweight” rating on the stock in a report on Monday, August 10th. Finally, Scotia raised Nutrien from a “sector perform” rating to a “sector outperform” rating and set a $80.00 price target for the company in a report on Tuesday, June 30th. Seventeen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Nutrien presently has an average rating of “Moderate Buy” and a consensus target price of $81.58.

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.