PDT Partners LLC Makes New $1.73 Million Investment in Nutrien Ltd. $NTR

Key Points

• PDT Partners acquired a new $1.73 million stake in Nutrien during the second quarter, purchasing 27,422 shares. Hedge funds and other institutional investors collectively own 63.1% of the company.
• Analysts maintain a generally positive outlook, with Nutrien holding a consensus “Moderate Buy” rating and an average price target of $81.58, above its reported $73.72 share price.
• Nutrien reported quarterly revenue of $10.81 billion, exceeding expectations, although earnings per share of $2.61 fell short of estimates. The company also declared a quarterly dividend of $0.55 per share, representing a 3.0% annualized yield.

PDT Partners LLC acquired a new stake in shares of Nutrien Ltd. (NYSE:NTR - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 27,422 shares of the company's stock, valued at approximately $1,726,000.

Other hedge funds have also recently modified their holdings of the company. Montag A & Associates Inc. raised its position in shares of Nutrien by 310.7% in the fourth quarter. Montag A & Associates Inc. now owns 423 shares of the company's stock worth $26,000 after acquiring an additional 320 shares during the period. Evolution Wealth Management Inc. acquired a new stake in shares of Nutrien during the 1st quarter valued at about $32,000. Global Retirement Partners LLC purchased a new position in shares of Nutrien in the 2nd quarter valued at about $30,000. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Nutrien by 1,014.0% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 479 shares of the company's stock valued at $30,000 after purchasing an additional 436 shares in the last quarter. Finally, Allied Private Wealth LLC acquired a new position in Nutrien in the 2nd quarter worth about $33,000. Hedge funds and other institutional investors own 63.10% of the company's stock.

Analyst Upgrades and Downgrades

NTR has been the topic of a number of recent analyst reports. Oppenheimer lowered their price target on Nutrien from $82.00 to $80.00 and set an "outperform" rating on the stock in a research report on Thursday, July 23rd. Scotiabank raised Nutrien from a "sector perform" rating to a "sector outperform" rating and set a $80.00 target price for the company in a research note on Tuesday, June 30th. Berenberg Bank set a $65.00 target price on Nutrien and gave the company a "hold" rating in a research report on Wednesday, June 10th. Bank of America raised shares of Nutrien from a "neutral" rating to a "buy" rating and set a $82.00 price target on the stock in a research note on Thursday, April 30th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Nutrien from $78.00 to $80.00 and gave the stock an "overweight" rating in a report on Monday, May 11th. Seventeen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Nutrien currently has a consensus rating of "Moderate Buy" and an average price target of $81.58.

Nutrien Stock Up 1.2%

Shares of NYSE NTR opened at $73.72 on Thursday. The company has a market capitalization of $35.26 billion, a P/E ratio of 14.92, a P/E/G ratio of 0.74 and a beta of 0.61. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.39 and a quick ratio of 0.86. The company has a 50 day simple moving average of $66.91 and a 200-day simple moving average of $70.51. Nutrien Ltd. has a 1 year low of $53.03 and a 1 year high of $85.36.

Nutrien (NYSE:NTR - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $2.61 earnings per share 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 return on equity of 8.88% and a net margin of 8.44%.The company's revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.65 earnings per share. On average, equities research analysts predict that Nutrien Ltd. will post 4.95 earnings per share for the current year.

Nutrien Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Stockholders of record on Tuesday, September 29th will be issued a dividend of $0.55 per share. The ex-dividend date is Tuesday, September 29th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.0%. Nutrien's dividend payout ratio is currently 44.53%.

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.

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