Nutrien Ltd. $NTR Position Increased by Parallel Advisors LLC

Parallel Advisors LLC increased its stake in Nutrien Ltd. (NYSE:NTR) by 20.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,824 shares of the company’s stock after purchasing an additional 311 shares during the period. Parallel Advisors LLC’s holdings in Nutrien were worth $106,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Public Sector Pension Investment Board lifted its holdings in shares of Nutrien by 0.4% in the 1st 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 holdings 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 worth $1,579,000 after purchasing an additional 220 shares during the last quarter. Tidal Investments LLC lifted its holdings in shares of Nutrien by 2.9% in the 4th quarter. Tidal Investments LLC now owns 10,262 shares of the company’s stock worth $459,000 after purchasing an additional 293 shares during the last quarter. Mesirow Financial Investment Management Inc. lifted its holdings 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 worth $275,000 after purchasing an additional 309 shares during the last quarter. Finally, Harbour Investments Inc. lifted its holdings in shares of Nutrien by 94.8% in the 1st quarter. Harbour Investments Inc. now owns 715 shares of the company’s stock worth $35,000 after purchasing an additional 348 shares during the last quarter. Institutional investors own 63.10% of the company’s stock.

Nutrien Stock Up 4.8%

Shares of NTR stock opened at $59.05 on Thursday. Nutrien Ltd. has a 1 year low of $43.69 and a 1 year high of $65.08. The stock has a market cap of $28.65 billion, a PE ratio of 21.17, a price-to-earnings-growth ratio of 0.92 and a beta of 0.77. The business’s fifty day moving average is $57.81 and its 200-day moving average is $56.60. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.85 and a current ratio of 1.33.

Nutrien (NYSE:NTR) last issued its earnings results on Wednesday, August 6th. The company reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.41 by $0.24. The business had revenue of $10.30 billion for the quarter, compared to analysts’ expectations of $10.40 billion. Nutrien had a return on equity of 6.51% and a net margin of 5.25%.The company’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.34 EPS. Equities analysts expect that Nutrien Ltd. will post 3.72 earnings per share for the current fiscal year.

Nutrien Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Monday, September 29th will be issued a $0.545 dividend. This represents a $2.18 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Monday, September 29th. Nutrien’s payout ratio is presently 78.14%.

Analyst Ratings Changes

NTR has been the topic of several recent research reports. National Bankshares assumed coverage on Nutrien in a report on Friday, September 5th. They issued a “sector perform” rating and a $64.00 price target on the stock. Scotiabank cut their target price on Nutrien from $62.00 to $60.00 and set a “sector perform” rating on the stock in a research note on Monday, August 11th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Nutrien in a research note on Monday, July 14th. Jefferies Financial Group cut their target price on Nutrien from $61.00 to $60.00 and set a “hold” rating on the stock in a research note on Tuesday, September 9th. Finally, Morgan Stanley lifted 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. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $62.39.

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.