PCM Encore LLC Invests $636,000 in Nutrien Ltd. $NTR

PCM Encore LLC bought a new position in shares of Nutrien Ltd. (NYSE:NTR) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 10,096 shares of the company’s stock, valued at approximately $636,000.

A number of other hedge funds have also modified their holdings of the company. Montag A & Associates Inc. increased its holdings in Nutrien by 310.7% in the 4th quarter. Montag A & Associates Inc. now owns 423 shares of the company’s stock worth $26,000 after buying an additional 320 shares during the period. Evolution Wealth Management Inc. purchased a new stake in shares of Nutrien in the first quarter valued at approximately $32,000. Global Retirement Partners LLC acquired a new position in Nutrien during the second quarter worth $30,000. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Nutrien by 1,014.0% during the 2nd 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. Finally, Allied Private Wealth LLC acquired a new position in shares of Nutrien during the second quarter valued at approximately $33,000. 63.10% of the stock is owned by institutional investors and hedge funds.

Nutrien Stock Up 3.8%

Shares of NYSE NTR opened at $73.19 on Friday. The stock has a market cap of $35.01 billion, a PE ratio of 14.82, a price-to-earnings-growth ratio of 0.70 and a beta of 0.61. Nutrien Ltd. has a 52-week low of $53.03 and a 52-week high of $85.36. The business has a 50-day moving average price of $66.26 and a 200 day moving average price of $70.38. The company has a quick ratio of 0.86, a current ratio of 1.39 and a debt-to-equity ratio of 0.36.

Nutrien (NYSE:NTR) last announced its earnings results on Wednesday, August 5th. The company reported $2.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.70 by ($0.09). The business had revenue of $10.81 billion for the quarter, compared to analysts’ expectations of $10.44 billion. Nutrien had a return on equity of 8.88% and a net margin of 8.44%.The business’s revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the business posted $2.65 earnings per share. Equities research analysts forecast that Nutrien Ltd. will post 5.01 earnings per share for the current year.

Nutrien Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Tuesday, September 29th will be paid 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 dividend payout ratio is currently 44.53%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Raymond James Financial upgraded shares of Nutrien from a “market perform” rating to an “outperform” rating and increased their target price for the company from $74.00 to $90.00 in a research report on Tuesday, May 5th. UBS Group reduced their target price on Nutrien from $67.00 to $65.00 and set a “sell” rating on the stock in a research report on Monday, May 11th. Bank of America upgraded shares of Nutrien from a “neutral” rating to a “buy” rating and set a $82.00 price objective on the stock in a report on Thursday, April 30th. JPMorgan Chase & Co. increased their target price on Nutrien from $78.00 to $80.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. Finally, TD Securities reissued a “buy” rating on shares of Nutrien in a research report on Wednesday, May 6th. Seventeen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $81.58.

Nutrien 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.