PDT Partners LLC Purchases Shares of 27,422 Nutrien Ltd. $NTR

PDT Partners LLC purchased a new stake in Nutrien Ltd. (NYSE:NTR) during the second quarter, Holdings Channel reports. The fund purchased 27,422 shares of the company’s stock, valued at approximately $1,726,000.

Other large investors have also recently made changes to their positions in the company. Canada Pension Plan Investment Board purchased a new position in shares of Nutrien during the 2nd quarter worth approximately $359,318,000. Legal & General Group Plc purchased a new stake in Nutrien in the second quarter valued at approximately $159,597,000. The Manufacturers Life Insurance Company acquired a new position in Nutrien during the second quarter worth $375,178,000. Van Hulzen Asset Management LLC acquired a new position in Nutrien during the second quarter worth $214,000. Finally, Manning & Napier Advisors LLC purchased a new position in shares of Nutrien during the second quarter worth $2,225,000. 63.10% of the stock is currently owned by institutional investors and hedge funds.

Nutrien Price Performance

NTR stock opened at $73.72 on Thursday. The company has a current ratio of 1.39, a quick ratio of 0.86 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $35.26 billion, a P/E ratio of 14.92, a PEG ratio of 0.74 and a beta of 0.61. The business has a 50 day simple moving average of $66.91 and a 200-day simple moving average of $70.51. Nutrien Ltd. has a twelve month low of $53.03 and a twelve month high of $85.36.

Nutrien (NYSE:NTR) last released its quarterly earnings results on Wednesday, August 5th. The company reported $2.61 EPS for the quarter, missing the consensus estimate of $2.70 by ($0.09). The business had revenue of $10.81 billion during the quarter, compared to analysts’ expectations of $10.44 billion. Nutrien had a net margin of 8.44% and a return on equity of 8.88%. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter last year, the company earned $2.65 EPS. As a group, equities analysts anticipate that Nutrien Ltd. will post 4.95 EPS for the current year.

Nutrien Announces Dividend

The business also recently disclosed 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. This represents a $2.20 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 29th. Nutrien’s dividend payout ratio (DPR) is presently 44.53%.

Analysts Set New Price Targets

NTR has been the subject of a number of research reports. Morgan Stanley dropped their price objective on Nutrien from $93.00 to $81.00 and set an “overweight” rating for the company in a research note on Tuesday, July 7th. Mizuho dropped their price objective on shares of Nutrien from $77.00 to $75.00 and set a “neutral” rating for the company in a report on Tuesday, July 14th. Berenberg Bank set a $65.00 target price on shares of Nutrien and gave the stock a “hold” rating in a report on Wednesday, June 10th. Raymond James Financial raised Nutrien from a “market perform” rating to an “outperform” rating and increased their price target for the company from $74.00 to $90.00 in a research report on Tuesday, May 5th. Finally, BNP Paribas Exane upgraded Nutrien from a “neutral” rating to an “outperform” rating and set a $80.00 price objective for the company in a research note on Tuesday, July 28th. Seventeen research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Nutrien currently has a consensus rating of “Moderate Buy” and an average price target of $81.58.

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.