Barometer Capital Management Inc. Invests $9.46 Million in Nutrien Ltd. $NTR

Barometer Capital Management Inc. acquired a new position in shares of Nutrien Ltd. (NYSE:NTR) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 125,300 shares of the company’s stock, valued at approximately $9,455,000. Nutrien comprises approximately 3.9% of Barometer Capital Management Inc.’s holdings, making the stock its 4th biggest position.

Several other large investors have also bought and sold shares of NTR. Montag A & Associates Inc. raised its stake in Nutrien by 310.7% during the fourth quarter. Montag A & Associates Inc. now owns 423 shares of the company’s stock worth $26,000 after acquiring an additional 320 shares in the last quarter. Evolution Wealth Management Inc. bought a new position in shares of Nutrien in the first quarter worth about $32,000. Sfam LLC acquired a new stake in shares of Nutrien in the 4th quarter valued at approximately $37,000. Eastern Bank boosted its stake in shares of Nutrien by 133.0% in the 4th quarter. Eastern Bank now owns 699 shares of the company’s stock valued at $43,000 after purchasing an additional 399 shares in the last quarter. Finally, Harbour Investments Inc. grew its holdings in shares of Nutrien by 97.2% during the 4th quarter. Harbour Investments Inc. now owns 704 shares of the company’s stock valued at $43,000 after purchasing an additional 347 shares during the last quarter. 63.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on NTR shares. Oppenheimer upped their price objective on shares of Nutrien from $80.00 to $82.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 12th. Canadian Imperial Bank of Commerce decreased their target price on shares of Nutrien from $90.00 to $88.00 and set an “outperformer” rating on the stock in a research note on Thursday, April 30th. Wall Street Zen cut shares of Nutrien from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. TD Securities reiterated a “buy” rating on shares of Nutrien in a report on Wednesday, May 6th. Finally, Morgan Stanley dropped their price target on Nutrien from $93.00 to $81.00 and set an “overweight” rating for the company in a research note on Tuesday, July 7th. Fourteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $82.00.

Nutrien Stock Performance

NYSE NTR opened at $66.78 on Wednesday. The company has a market capitalization of $31.94 billion, a price-to-earnings ratio of 13.60, a PEG ratio of 0.65 and a beta of 0.62. Nutrien Ltd. has a twelve month low of $53.03 and a twelve month high of $85.36. The stock has a fifty day simple moving average of $66.70 and a 200 day simple moving average of $69.96. The company has a quick ratio of 0.59, a current ratio of 1.24 and a debt-to-equity ratio of 0.35.

Nutrien (NYSE:NTR) last announced its earnings results on Wednesday, May 6th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.48 by $0.03. The firm had revenue of $6.05 billion for the quarter, compared to the consensus estimate of $5.30 billion. Nutrien had a return on equity of 8.84% and a net margin of 8.58%.The business’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.11 EPS. Sell-side analysts expect that Nutrien Ltd. will post 5.11 EPS for the current year.

Nutrien Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Tuesday, June 30th. Nutrien’s dividend payout ratio (DPR) 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.