Parkside Investments LLC Raises Stake in Nutrien Ltd. (NYSE:NTR)

Parkside Investments LLC grew its stake in shares of Nutrien Ltd. (NYSE:NTR) by 4.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 78,600 shares of the company’s stock after purchasing an additional 3,600 shares during the period. Parkside Investments LLC’s holdings in Nutrien were worth $4,641,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Covestor Ltd purchased a new stake in shares of Nutrien during the 1st quarter worth $30,000. Zions Bancorporation N.A. boosted its position in shares of Nutrien by 55.2% in the 1st quarter. Zions Bancorporation N.A. now owns 301 shares of the company’s stock worth $31,000 after buying an additional 107 shares in the last quarter. GPS Wealth Strategies Group LLC purchased a new stake in shares of Nutrien in the 1st quarter worth about $29,000. CoreCap Advisors LLC purchased a new stake in shares of Nutrien in the 4th quarter worth about $31,000. Finally, Assetmark Inc. boosted its position in shares of Nutrien by 2,781.3% in the 1st quarter. Assetmark Inc. now owns 461 shares of the company’s stock worth $34,000 after buying an additional 445 shares in the last quarter. 62.77% of the stock is currently owned by hedge funds and other institutional investors.

Nutrien Trading Down 0.6 %

Shares of NYSE NTR traded down $0.41 on Friday, reaching $63.99. 216,485 shares of the company traded hands, compared to its average volume of 2,304,766. Nutrien Ltd. has a fifty-two week low of $52.23 and a fifty-two week high of $91.43. The company has a 50 day moving average of $63.66 and a 200 day moving average of $65.62. The company has a current ratio of 1.26, a quick ratio of 0.78 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $31.64 billion, a PE ratio of 9.04, a P/E/G ratio of 1.17 and a beta of 0.93.

Nutrien (NYSE:NTR) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported $2.53 EPS for the quarter, missing analysts’ consensus estimates of $2.83 by ($0.30). Nutrien had a net margin of 11.05% and a return on equity of 16.41%. The company had revenue of $11.65 billion for the quarter, compared to analyst estimates of $11.04 billion. During the same period in the prior year, the company earned $5.85 EPS. The company’s revenue was down 19.7% compared to the same quarter last year. On average, equities research analysts forecast that Nutrien Ltd. will post 6.7 earnings per share for the current fiscal year.

Nutrien Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend is Thursday, September 28th. Nutrien’s payout ratio is currently 29.78%.

Analyst Ratings Changes

Several equities research analysts recently commented on NTR shares. Bank of America decreased their price objective on shares of Nutrien from $94.00 to $85.00 in a research report on Thursday, June 8th. Piper Sandler boosted their price objective on shares of Nutrien from $70.00 to $73.00 and gave the stock a “neutral” rating in a research report on Monday, August 7th. Stifel Nicolaus decreased their price objective on shares of Nutrien from $75.00 to $73.00 in a research report on Friday, June 30th. JPMorgan Chase & Co. decreased their price objective on shares of Nutrien from $78.00 to $70.00 and set an “equal weight” rating on the stock in a research report on Friday, August 4th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $85.00 target price on shares of Nutrien in a research note on Tuesday, August 8th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $79.79.

Nutrien Company Profile

Nutrien Ltd. provides crop inputs and services. The company operates through Retail, Potash, Nitrogen, and Phosphate segments. The Retail segment distributes crop nutrients, crop protection products, seeds, and merchandise products. The Potash segment provides granular and standard potash products. The Nitrogen segment offers ammonia, urea, urea ammonium nitrate, industrial grade ammonium nitrate, and ammonium sulfate.