PCM Encore LLC Acquires Shares of 10,096 Nutrien Ltd. $NTR

PCM Encore LLC acquired a new position in shares of Nutrien Ltd. (NYSE:NTR) in the second quarter, Holdings Channel reports. The fund acquired 10,096 shares of the company’s stock, valued at approximately $636,000.

Several other hedge funds and other institutional investors also recently modified their holdings of NTR. Montag A & Associates Inc. increased its holdings in shares of Nutrien by 310.7% in the fourth quarter. Montag A & Associates Inc. now owns 423 shares of the company’s stock valued at $26,000 after purchasing an additional 320 shares during the period. 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 purchasing an additional 436 shares during the last quarter. Global Retirement Partners LLC acquired a new stake in shares of Nutrien during the second quarter worth $30,000. Evolution Wealth Management Inc. acquired a new stake in shares of Nutrien during the first quarter worth $32,000. Finally, Allied Private Wealth LLC acquired a new stake in shares of Nutrien during the second quarter worth $33,000. 63.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NTR has been the topic of several recent research reports. Bank of America raised 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. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Nutrien in a research note on Monday, August 10th. Mizuho reduced their target price on shares of Nutrien from $77.00 to $75.00 and set a “neutral” rating for the company in a research note on Tuesday, July 14th. Oppenheimer lowered their target price on shares of Nutrien from $82.00 to $80.00 and set an “outperform” rating on the stock in a report on Thursday, July 23rd. Finally, Raymond James Financial upgraded shares of Nutrien from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $74.00 to $90.00 in a research note on Tuesday, May 5th. Seventeen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Nutrien presently has a consensus rating of “Moderate Buy” and an average target price of $81.58.

Nutrien Stock Up 3.8%

Nutrien stock opened at $73.19 on Friday. Nutrien Ltd. has a fifty-two week low of $53.03 and a fifty-two week high of $85.36. The firm has a market capitalization of $35.01 billion, a price-to-earnings ratio of 14.82, a price-to-earnings-growth ratio of 0.70 and a beta of 0.61. The stock’s fifty day moving average is $66.26 and its two-hundred day moving average is $70.38. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.86 and a current ratio of 1.39.

Nutrien (NYSE:NTR) last released its quarterly earnings results on Wednesday, August 5th. The company reported $2.61 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $10.44 billion. During the same period last year, the firm earned $2.65 EPS. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. Analysts predict that Nutrien Ltd. will post 5.01 EPS for the current fiscal year.

Nutrien Announces Dividend

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

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.