Riverhead Capital Management LLC Increases Stock Holdings in Nutrien Ltd (NYSE:NTR)
Riverhead Capital Management LLC increased its holdings in Nutrien Ltd (NYSE:NTR) by 16.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,639 shares of the company’s stock after purchasing an additional 800 shares during the period. Riverhead Capital Management LLC’s holdings in Nutrien were worth $290,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Wetherby Asset Management Inc. boosted its holdings in Nutrien by 2.8% in the first quarter. Wetherby Asset Management Inc. now owns 8,035 shares of the company’s stock valued at $424,000 after acquiring an additional 217 shares during the last quarter. Carroll Financial Associates Inc. lifted its stake in shares of Nutrien by 11.1% during the second quarter. Carroll Financial Associates Inc. now owns 2,843 shares of the company’s stock worth $152,000 after purchasing an additional 284 shares in the last quarter. Cornerstone Advisors Inc. lifted its stake in shares of Nutrien by 39.6% during the second quarter. Cornerstone Advisors Inc. now owns 1,085 shares of the company’s stock worth $58,000 after purchasing an additional 308 shares in the last quarter. Tdam USA Inc. lifted its stake in shares of Nutrien by 2.3% during the second quarter. Tdam USA Inc. now owns 13,646 shares of the company’s stock worth $730,000 after purchasing an additional 310 shares in the last quarter. Finally, Coastal Investment Advisors Inc. lifted its stake in shares of Nutrien by 63.8% during the second quarter. Coastal Investment Advisors Inc. now owns 929 shares of the company’s stock worth $49,000 after purchasing an additional 362 shares in the last quarter. 65.50% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:NTR traded up $0.81 during trading on Friday, hitting $51.88. The company’s stock had a trading volume of 393,698 shares, compared to its average volume of 878,928. Nutrien Ltd has a fifty-two week low of $43.96 and a fifty-two week high of $58.99. The stock’s 50-day moving average price is $50.83 and its two-hundred day moving average price is $52.01. The company has a market capitalization of $29.96 billion, a PE ratio of 19.29, a PEG ratio of 2.55 and a beta of 0.91.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Monday, September 30th will be paid a $0.45 dividend. This is a boost from Nutrien’s previous quarterly dividend of $0.43. The ex-dividend date is Friday, September 27th. This represents a $1.80 annualized dividend and a dividend yield of 3.47%. Nutrien’s payout ratio is 63.94%.
A number of brokerages have commented on NTR. Raymond James restated a “strong-buy” rating and set a $70.00 price objective on shares of Nutrien in a research note on Tuesday, July 30th. Citigroup set a $61.00 price objective on Nutrien and gave the stock a “buy” rating in a research note on Wednesday, July 31st. TD Securities boosted their price objective on Nutrien from $68.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Bank of America upgraded Nutrien from an “underperform” rating to a “neutral” rating in a research note on Friday, August 16th. Finally, ValuEngine cut Nutrien from a “hold” rating to a “sell” rating in a research note on Wednesday, September 4th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $61.54.
Nutrien Ltd. produces and markets crop nutrients to agricultural, industrial, and feed customers worldwide. It operates in four segments: Retail, Potash, Nitrogen, and Phosphate and Sulfate. The company offers potash, nitrogen, phosphate, and sulfate products. It also distributes crop nutrients, crop protection products, seeds, and merchandise products through operating 1,700 retail locations.
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