Legacy Wealth Asset Management LLC Takes $602,000 Position in Nutrien Ltd. $NTR

Key Points

• Legacy Wealth Asset Management LLC has acquired a new stake in Nutrien Ltd. amounting to approximately $602,000, buying 10,342 shares of the company's stock in the second quarter.
• Nutrien reported earnings of $2.65 per share for the last quarter, exceeding the consensus estimate of $2.41, with quarterly revenue of $10.30 billion.
• The company declared a quarterly dividend of $0.545 per share, translating to an annualized yield of 3.9%, with a payout ratio of 78.14%.

Legacy Wealth Asset Management LLC purchased a new stake in Nutrien Ltd. (NYSE:NTR - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 10,342 shares of the company's stock, valued at approximately $602,000.

Other hedge funds also recently made changes to their positions in the company. Harbour Investments Inc. grew its position in shares of Nutrien by 94.8% in the first quarter. Harbour Investments Inc. now owns 715 shares of the company's stock valued at $35,000 after purchasing an additional 348 shares in the last quarter. Trust Co. of Toledo NA OH purchased a new position in shares of Nutrien in the second quarter valued at $49,000. Allworth Financial LP grew its position in shares of Nutrien by 117.1% in the first quarter. Allworth Financial LP now owns 938 shares of the company's stock valued at $50,000 after purchasing an additional 506 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its position in shares of Nutrien by 1,074.7% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,022 shares of the company's stock valued at $51,000 after purchasing an additional 935 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Nutrien by 4,866.7% in the first quarter. GAMMA Investing LLC now owns 1,043 shares of the company's stock valued at $52,000 after purchasing an additional 1,022 shares in the last quarter. 63.10% of the stock is currently owned by hedge funds and other institutional investors.

Nutrien Price Performance

Nutrien stock opened at $56.04 on Wednesday. Nutrien Ltd. has a 52 week low of $43.69 and a 52 week high of $65.08. The business has a 50-day simple moving average of $57.80 and a 200 day simple moving average of $57.68. The company has a quick ratio of 0.85, a current ratio of 1.33 and a debt-to-equity ratio of 0.39. The stock has a market cap of $27.19 billion, a price-to-earnings ratio of 20.09, a PEG ratio of 0.95 and a beta of 0.82.

Nutrien (NYSE:NTR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.24. Nutrien had a return on equity of 6.51% and a net margin of 5.25%.The firm had revenue of $10.30 billion during the quarter, compared to analyst estimates of $10.40 billion. During the same quarter in the previous year, the company posted $2.34 earnings per share. The company's revenue was up 2.8% compared to the same quarter last year. On average, research analysts forecast that Nutrien Ltd. will post 3.72 earnings per share for the current fiscal year.

Nutrien Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Monday, September 29th were paid a dividend of $0.545 per share. The ex-dividend date of this dividend was Monday, September 29th. This represents a $2.18 annualized dividend and a yield of 3.9%. Nutrien's payout ratio is 78.14%.

Wall Street Analysts Forecast Growth

NTR has been the subject of several recent research reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Nutrien in a research report on Wednesday, October 8th. Jefferies Financial Group reduced their price target on Nutrien from $61.00 to $60.00 and set a "hold" rating for the company in a research report on Tuesday, September 9th. Scotiabank reduced their target price on Nutrien from $62.00 to $60.00 and set a "sector perform" rating for the company in a research report on Monday, August 11th. Barclays boosted their target price on Nutrien from $61.00 to $64.00 and gave the stock an "equal weight" rating in a research report on Monday, July 7th. Finally, Bank of America restated a "neutral" rating and set a $67.00 target price on shares of Nutrien in a research report on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $62.78.

Nutrien Company Profile

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.

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