Legacy Wealth Asset Management LLC Makes New Investment in Nutrien Ltd. $NTR

Legacy Wealth Asset Management LLC purchased a new position in shares of Nutrien Ltd. (NYSE:NTR) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 10,342 shares of the company’s stock, valued at approximately $602,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Public Sector Pension Investment Board lifted its stake in Nutrien by 0.4% during the first quarter. Public Sector Pension Investment Board now owns 47,329 shares of the company’s stock worth $2,349,000 after purchasing an additional 200 shares during the last quarter. Blume Capital Management Inc. lifted its stake in shares of Nutrien by 0.7% in the 1st quarter. Blume Capital Management Inc. now owns 31,796 shares of the company’s stock valued at $1,579,000 after acquiring an additional 220 shares during the last quarter. Weatherly Asset Management L. P. lifted its stake in shares of Nutrien by 0.7% in the 2nd quarter. Weatherly Asset Management L. P. now owns 38,799 shares of the company’s stock valued at $2,280,000 after acquiring an additional 266 shares during the last quarter. Mesirow Financial Investment Management Inc. lifted its stake in shares of Nutrien by 5.9% in the 1st quarter. Mesirow Financial Investment Management Inc. now owns 5,532 shares of the company’s stock valued at $275,000 after acquiring an additional 309 shares during the last quarter. Finally, Parallel Advisors LLC lifted its stake in shares of Nutrien by 20.6% in the 2nd quarter. Parallel Advisors LLC now owns 1,824 shares of the company’s stock valued at $106,000 after acquiring an additional 311 shares during the last quarter. Institutional investors own 63.10% of the company’s stock.

Nutrien Stock Down 2.7%

Shares of NYSE:NTR opened at $56.04 on Wednesday. Nutrien Ltd. has a 1 year low of $43.69 and a 1 year high of $65.08. The company has a market cap of $27.19 billion, a PE ratio of 20.09, a P/E/G ratio of 0.95 and a beta of 0.82. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.33 and a quick ratio of 0.85. The stock’s 50-day moving average is $57.80 and its 200 day moving average is $57.68.

Nutrien (NYSE:NTR) last posted its earnings results on Wednesday, August 6th. The company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $10.40 billion. During the same quarter in the prior year, the business earned $2.34 EPS. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. Sell-side analysts anticipate that Nutrien Ltd. will post 3.72 EPS for the current year.

Nutrien Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Morgan Stanley boosted their target price on Nutrien from $60.00 to $65.00 and gave the company an “equal weight” rating in a research note on Thursday, June 26th. Oppenheimer boosted their target price on Nutrien from $63.00 to $65.00 and gave the company an “outperform” rating in a research note on Tuesday, July 15th. National Bank Financial assumed coverage on Nutrien in a research note on Friday, September 5th. They issued a “sector perform” rating for the company. Wells Fargo & Company reissued a “cautious” rating on shares of Nutrien in a research note on Thursday, October 16th. Finally, Scotiabank lowered their target price on Nutrien from $62.00 to $60.00 and set a “sector perform” rating for the company in a research note on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $62.78.

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.