Pekin Hardy Strauss Inc. Boosts Stake in Nutrien Ltd. (NYSE:NTR)

Pekin Hardy Strauss Inc. lifted its position in shares of Nutrien Ltd. (NYSE:NTR) by 4.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,936 shares of the company’s stock after acquiring an additional 1,405 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Nutrien were worth $1,778,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Nutrien by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 18,781,287 shares of the company’s stock worth $1,020,012,000 after acquiring an additional 570,912 shares in the last quarter. Parnassus Investments LLC raised its position in shares of Nutrien by 19.5% during the 4th quarter. Parnassus Investments LLC now owns 12,017,181 shares of the company’s stock worth $676,928,000 after purchasing an additional 1,960,162 shares during the last quarter. First Eagle Investment Management LLC raised its position in shares of Nutrien by 0.5% during the 1st quarter. First Eagle Investment Management LLC now owns 9,571,272 shares of the company’s stock worth $519,816,000 after purchasing an additional 50,369 shares during the last quarter. TD Asset Management Inc raised its position in shares of Nutrien by 28.6% during the 4th quarter. TD Asset Management Inc now owns 9,226,352 shares of the company’s stock worth $522,309,000 after purchasing an additional 2,050,358 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its position in shares of Nutrien by 10.6% during the 1st quarter. 1832 Asset Management L.P. now owns 8,839,216 shares of the company’s stock worth $480,058,000 after purchasing an additional 844,559 shares during the last quarter. 63.10% of the stock is owned by hedge funds and other institutional investors.

Nutrien Stock Performance

NYSE:NTR opened at $46.59 on Tuesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.82 and a current ratio of 1.26. The stock has a market capitalization of $23.05 billion, a P/E ratio of 27.25, a PEG ratio of 1.51 and a beta of 0.82. The company has a 50 day moving average price of $48.15 and a 200 day moving average price of $51.98. Nutrien Ltd. has a fifty-two week low of $44.65 and a fifty-two week high of $64.54.

Nutrien (NYSE:NTR) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $2.34 EPS for the quarter, beating the consensus estimate of $2.19 by $0.15. Nutrien had a net margin of 2.97% and a return on equity of 6.91%. The company had revenue of $10.16 billion during the quarter, compared to analysts’ expectations of $10.82 billion. During the same quarter last year, the company posted $2.53 EPS. The firm’s revenue was down 12.9% compared to the same quarter last year. Equities research analysts forecast that Nutrien Ltd. will post 3.81 EPS for the current year.

Nutrien Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Friday, September 27th will be given a $0.54 dividend. The ex-dividend date is Friday, September 27th. This represents a $2.16 annualized dividend and a yield of 4.64%. Nutrien’s dividend payout ratio is presently 126.32%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on NTR shares. Scotiabank reduced their price target on shares of Nutrien from $66.00 to $59.00 and set a “sector outperform” rating for the company in a research report on Monday, August 12th. Mizuho reduced their price target on shares of Nutrien from $55.00 to $52.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. UBS Group cut their price objective on shares of Nutrien from $67.00 to $66.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. The Goldman Sachs Group downgraded shares of Nutrien from a “buy” rating to a “neutral” rating and cut their price objective for the company from $69.00 to $53.00 in a report on Tuesday, September 10th. Finally, BMO Capital Markets cut their price objective on shares of Nutrien from $80.00 to $75.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $62.39.

About Nutrien

Nutrien Ltd. provides crop inputs and services. The company operates through four segments: Retail, Potash, Nitrogen, and Phosphate. The Retail segment distributes crop nutrients, crop protection products, seeds, and merchandise products. The Potash segment provides granular and standard potash products.