Pacific Heights Asset Management LLC Cuts Stock Holdings in Nutrien Ltd. (NYSE:NTR)

Pacific Heights Asset Management LLC decreased its position in shares of Nutrien Ltd. (NYSE:NTR - Free Report) by 73.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 220,000 shares of the company's stock after selling 595,000 shares during the quarter. Pacific Heights Asset Management LLC's holdings in Nutrien were worth $10,927,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its stake in Nutrien by 8.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,886,376 shares of the company's stock worth $84,367,000 after buying an additional 144,025 shares during the last quarter. Farther Finance Advisors LLC boosted its position in Nutrien by 27.6% during the first quarter. Farther Finance Advisors LLC now owns 4,627 shares of the company's stock valued at $229,000 after acquiring an additional 1,002 shares during the last quarter. Jackson Hole Capital Partners LLC grew its holdings in Nutrien by 5.4% during the 4th quarter. Jackson Hole Capital Partners LLC now owns 58,591 shares of the company's stock worth $2,622,000 after acquiring an additional 2,997 shares during the period. US Bancorp DE raised its position in shares of Nutrien by 29.6% in the 4th quarter. US Bancorp DE now owns 30,549 shares of the company's stock worth $1,367,000 after acquiring an additional 6,975 shares in the last quarter. Finally, Wealthfront Advisers LLC bought a new position in shares of Nutrien in the 4th quarter worth about $556,000. Institutional investors and hedge funds own 63.10% of the company's stock.

Nutrien Stock Up 0.7%

Shares of Nutrien stock traded up $0.44 during trading hours on Friday, reaching $60.43. The company's stock had a trading volume of 1,143,524 shares, compared to its average volume of 2,200,387. The company has a market capitalization of $29.43 billion, a P/E ratio of 19.78, a P/E/G ratio of 1.14 and a beta of 0.80. The stock's fifty day simple moving average is $58.82 and its two-hundred day simple moving average is $53.16. Nutrien Ltd. has a one year low of $43.70 and a one year high of $65.08. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.59 and a current ratio of 1.22.

Nutrien (NYSE:NTR - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.11 earnings per share for the quarter, missing analysts' consensus estimates of $0.35 by ($0.24). Nutrien had a return on equity of 6.08% and a net margin of 2.05%. The business had revenue of $4.67 billion during the quarter, compared to analyst estimates of $5.16 billion. During the same quarter in the prior year, the company earned $0.46 EPS. The company's revenue was down 5.4% on a year-over-year basis. On average, research analysts forecast that Nutrien Ltd. will post 3.72 earnings per share for the current year.

Nutrien Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 18th. Stockholders of record on Monday, June 30th will be paid a $0.545 dividend. This represents a $2.18 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend is Monday, June 30th. Nutrien's dividend payout ratio (DPR) is presently 203.74%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NTR. The Goldman Sachs Group upped their target price on Nutrien from $53.00 to $59.00 and gave the company a "sell" rating in a research report on Friday, May 9th. Bank of America boosted their price target on Nutrien from $60.00 to $63.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. BNP Paribas raised shares of Nutrien to a "strong-buy" rating in a research report on Wednesday, April 9th. Morgan Stanley lifted their price objective on shares of Nutrien from $60.00 to $65.00 and gave the company an "equal weight" rating in a research note on Thursday, June 26th. Finally, Wells Fargo & Company boosted their target price on shares of Nutrien from $56.00 to $59.00 and gave the company an "equal weight" rating in a research report on Monday, May 12th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $62.12.

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.