PCJ Investment Counsel Ltd. Takes $1.18 Million Position in Nutrien Ltd. (NYSE:NTR)

Key Points

• PCJ Investment Counsel Ltd. has acquired a new position in Nutrien Ltd., purchasing 23,710 shares valued at approximately $1.18 million during the first quarter.
• Institutional investors collectively own 63.10% of Nutrien's stock, with notable increases in holdings from firms like Wealth Enhancement Advisory Services LLC and GAMMA Investing LLC.
• Nutrien reported earnings of $2.65 per share for the last quarter, surpassing expectations, but its revenue of $10.30 billion was slightly below forecasts.

PCJ Investment Counsel Ltd. bought a new position in shares of Nutrien Ltd. (NYSE:NTR - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 23,710 shares of the company's stock, valued at approximately $1,177,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its stake in Nutrien by 184.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,243 shares of the company's stock valued at $608,000 after buying an additional 7,934 shares during the period. Farther Finance Advisors LLC raised its stake in Nutrien by 27.6% in the first quarter. Farther Finance Advisors LLC now owns 4,627 shares of the company's stock valued at $229,000 after buying an additional 1,002 shares during the period. Kingswood Wealth Advisors LLC bought a new stake in Nutrien in the first quarter valued at approximately $517,000. Bessemer Group Inc. raised its stake in Nutrien by 163.7% in the first quarter. Bessemer Group Inc. now owns 1,690 shares of the company's stock valued at $84,000 after buying an additional 1,049 shares during the period. Finally, GAMMA Investing LLC raised its stake in 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 buying an additional 1,022 shares during the period. Institutional investors own 63.10% of the company's stock.

Nutrien Trading Down 4.0%

Shares of NYSE:NTR opened at $55.63 on Friday. The company has a market capitalization of $27.08 billion, a P/E ratio of 19.94, a P/E/G ratio of 1.06 and a beta of 0.81. Nutrien Ltd. has a 1 year low of $43.69 and a 1 year high of $65.08. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.22 and a quick ratio of 0.59. The business's 50 day simple moving average is $59.98 and its 200 day simple moving average is $55.33.

Nutrien (NYSE:NTR - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.24. Nutrien had a return on equity of 6.55% and a net margin of 5.25%. The firm had revenue of $10.30 billion during the quarter, compared to analysts' expectations of $10.40 billion. During the same period in the prior year, the company earned $2.34 earnings per share. The company's quarterly revenue was up 2.8% on a year-over-year basis. On average, research analysts anticipate that Nutrien Ltd. will post 3.72 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Morgan Stanley upped their price objective on Nutrien from $60.00 to $65.00 and gave the company an "equal weight" rating in a research note on Thursday, June 26th. Raymond James Financial downgraded Nutrien from an "outperform" rating to a "market perform" rating and set a $68.00 target price on the stock. in a research report on Tuesday, June 17th. Barclays upped their target price on Nutrien from $61.00 to $64.00 and gave the company an "equal weight" rating in a research report on Monday, July 7th. TD Securities upped their target price on Nutrien from $67.00 to $70.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Finally, Wells Fargo & Company upped their target price on Nutrien from $59.00 to $62.00 and gave the company an "equal weight" rating in a research report on Thursday, July 17th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Nutrien presently has a consensus rating of "Hold" and an average target price of $63.33.

Nutrien 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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