Lorne Steinberg Wealth Management Inc. Boosts Stock Position in Nutrien Ltd. $NTR

Lorne Steinberg Wealth Management Inc. boosted its stake in shares of Nutrien Ltd. (NYSE:NTR) by 12.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 106,996 shares of the company’s stock after acquiring an additional 11,975 shares during the quarter. Lorne Steinberg Wealth Management Inc.’s holdings in Nutrien were worth $6,282,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Oxbow Advisors LLC raised its stake in shares of Nutrien by 0.7% during the third quarter. Oxbow Advisors LLC now owns 105,735 shares of the company’s stock worth $6,208,000 after purchasing an additional 781 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its position in Nutrien by 2,215.7% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 148,785 shares of the company’s stock valued at $8,738,000 after buying an additional 142,360 shares during the last quarter. Bruce G. Allen Investments LLC increased its stake in Nutrien by 14.8% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 2,355 shares of the company’s stock valued at $138,000 after buying an additional 303 shares during the period. Root Financial Partners LLC acquired a new position in Nutrien in the 3rd quarter valued at $37,000. Finally, Pacific Heights Asset Management LLC raised its position in Nutrien by 36.4% during the 3rd quarter. Pacific Heights Asset Management LLC now owns 300,000 shares of the company’s stock worth $17,613,000 after buying an additional 80,000 shares during the last quarter. 63.10% of the stock is currently owned by hedge funds and other institutional investors.

Nutrien Trading Up 4.1%

Shares of NTR opened at $70.88 on Monday. The company has a current ratio of 1.41, a quick ratio of 0.89 and a debt-to-equity ratio of 0.39. The firm’s 50-day moving average is $61.43 and its two-hundred day moving average is $59.17. Nutrien Ltd. has a twelve month low of $45.78 and a twelve month high of $70.92. The firm has a market capitalization of $34.16 billion, a P/E ratio of 19.10 and a beta of 0.72.

Nutrien (NYSE:NTR) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.06. The company had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.59 billion. Nutrien had a net margin of 6.79% and a return on equity of 7.54%. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same period last year, the firm earned $0.39 EPS. On average, research analysts predict that Nutrien Ltd. will post 3.72 earnings per share for the current fiscal year.

Nutrien Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 16th. Stockholders of record on Wednesday, December 31st were given a $0.545 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $2.18 dividend on an annualized basis and a dividend yield of 3.1%. Nutrien’s dividend payout ratio (DPR) is currently 58.76%.

Analysts Set New Price Targets

Several analysts have recently weighed in on NTR shares. Oppenheimer reaffirmed an “outperform” rating on shares of Nutrien in a report on Wednesday, October 22nd. Bank of America restated a “neutral” rating and issued a $67.00 price objective on shares of Nutrien in a research report on Tuesday, October 14th. Wells Fargo & Company initiated coverage on Nutrien in a report on Tuesday, November 11th. They issued an “equal weight” rating and a $64.00 price objective on the stock. Wall Street Zen cut Nutrien from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. Finally, Royal Bank Of Canada increased their target price on Nutrien from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $65.71.

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.