Pacific Heights Asset Management LLC Raises Stake in Nutrien Ltd. (NYSE:NTR)

Pacific Heights Asset Management LLC boosted its position in Nutrien Ltd. (NYSE:NTR - Free Report) by 462.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 815,000 shares of the company's stock after purchasing an additional 670,000 shares during the period. Nutrien comprises approximately 2.4% of Pacific Heights Asset Management LLC's holdings, making the stock its 12th largest position. Pacific Heights Asset Management LLC owned about 0.17% of Nutrien worth $36,471,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Uncommon Cents Investing LLC increased its holdings in shares of Nutrien by 2.1% in the 4th quarter. Uncommon Cents Investing LLC now owns 11,550 shares of the company's stock valued at $517,000 after purchasing an additional 235 shares in the last quarter. Rhumbline Advisers increased its holdings in Nutrien by 3.5% in the fourth quarter. Rhumbline Advisers now owns 7,398 shares of the company's stock valued at $331,000 after buying an additional 247 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Nutrien by 6.5% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 4,309 shares of the company's stock valued at $207,000 after buying an additional 263 shares in the last quarter. FFT Wealth Management LLC lifted its position in shares of Nutrien by 0.9% during the 4th quarter. FFT Wealth Management LLC now owns 29,732 shares of the company's stock valued at $1,330,000 after acquiring an additional 277 shares during the period. Finally, Meixler Investment Management Ltd. boosted its stake in shares of Nutrien by 4.2% during the 3rd quarter. Meixler Investment Management Ltd. now owns 7,159 shares of the company's stock worth $344,000 after acquiring an additional 288 shares in the last quarter. Hedge funds and other institutional investors own 63.10% of the company's stock.

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Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Royal Bank of Canada reaffirmed an "outperform" rating and set a $60.00 price objective on shares of Nutrien in a report on Monday, February 24th. Piper Sandler boosted their price objective on shares of Nutrien from $58.00 to $63.00 and gave the stock an "overweight" rating in a research report on Monday, January 27th. TD Securities lowered their price objective on shares of Nutrien from $63.00 to $61.00 and set a "buy" rating on the stock in a research note on Tuesday, November 12th. Raymond James upgraded shares of Nutrien from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $58.00 to $60.00 in a research report on Tuesday, December 3rd. Finally, Scotiabank increased their price target on shares of Nutrien from $60.00 to $62.00 and gave the company a "sector outperform" rating in a research report on Monday, February 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Nutrien presently has an average rating of "Moderate Buy" and an average price target of $60.13.

Nutrien Trading Up 1.3 %

Nutrien stock traded up $0.65 during trading on Tuesday, hitting $51.19. The company's stock had a trading volume of 3,411,769 shares, compared to its average volume of 1,990,801. The stock's fifty day moving average is $50.84 and its 200 day moving average is $48.61. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.82 and a current ratio of 1.27. Nutrien Ltd. has a 1-year low of $43.70 and a 1-year high of $60.87. The stock has a market capitalization of $25.05 billion, a price-to-earnings ratio of 37.37, a P/E/G ratio of 1.19 and a beta of 0.81.

Nutrien (NYSE:NTR - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.28 EPS for the quarter, missing analysts' consensus estimates of $0.37 by ($0.09). Nutrien had a net margin of 2.62% and a return on equity of 6.81%. The company had revenue of $5.08 billion for the quarter, compared to analyst estimates of $5.09 billion. As a group, equities research analysts predict that Nutrien Ltd. will post 3.72 EPS for the current year.

Nutrien Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Monday, March 31st will be issued a $0.545 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.18 dividend on an annualized basis and a dividend yield of 4.26%. Nutrien's dividend payout ratio (DPR) is presently 159.12%.

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.