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

Key Points

• Belpointe Asset Management LLC has acquired a new position in Nutrien Ltd. by purchasing 6,269 shares valued at approximately $311,000 in the first quarter of the year.
• Institutional investors own 63.10% of Nutrien's stock, with significant increases in holdings reported by firms such as Vanguard Group and JPMorgan Chase during the same quarter.
• Nutrien recently announced a quarterly dividend of $0.545 per share, which represents an annualized yield of 3.8% and reflects a payout ratio of 78.14%.

Belpointe Asset Management LLC purchased a new position in Nutrien Ltd. (NYSE:NTR - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,269 shares of the company's stock, valued at approximately $311,000.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Nutrien by 7.1% in the first quarter. Vanguard Group Inc. now owns 21,191,003 shares of the company's stock worth $1,051,709,000 after purchasing an additional 1,412,503 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in Nutrien by 17.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 8,786,309 shares of the company's stock worth $436,137,000 after acquiring an additional 1,284,181 shares during the last quarter. Mackenzie Financial Corp grew its holdings in Nutrien by 0.7% in the 1st quarter. Mackenzie Financial Corp now owns 7,855,609 shares of the company's stock worth $389,860,000 after acquiring an additional 54,918 shares during the last quarter. Deutsche Bank AG grew its holdings in Nutrien by 6.5% in the 1st quarter. Deutsche Bank AG now owns 7,568,805 shares of the company's stock worth $375,943,000 after acquiring an additional 463,748 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Nutrien by 48.7% in the 1st quarter. JPMorgan Chase & Co. now owns 6,992,535 shares of the company's stock worth $347,319,000 after acquiring an additional 2,291,518 shares during the last quarter. 63.10% of the stock is owned by institutional investors.

Nutrien Stock Down 0.2%

Shares of Nutrien stock opened at $57.00 on Monday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.85 and a current ratio of 1.33. The stock has a market capitalization of $27.66 billion, a PE ratio of 20.43, a price-to-earnings-growth ratio of 0.96 and a beta of 0.77. Nutrien Ltd. has a 52-week low of $43.69 and a 52-week high of $65.08. The company has a 50-day simple moving average of $58.41 and a two-hundred day simple moving average of $56.32.

Nutrien (NYSE:NTR - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.24. The business had revenue of $10.30 billion during the quarter, compared to analysts' expectations of $10.40 billion. Nutrien had a net margin of 5.25% and a return on equity of 6.51%. The business's revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.34 earnings per share. On average, analysts anticipate that Nutrien Ltd. will post 3.72 EPS for the current fiscal year.

Nutrien Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Monday, September 29th will be issued a $0.545 dividend. The ex-dividend date of this dividend is Monday, September 29th. This represents a $2.18 annualized dividend and a yield of 3.8%. Nutrien's payout ratio is 78.14%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on NTR shares. Raymond James Financial lowered shares of Nutrien from an "outperform" rating to a "market perform" rating and set a $68.00 price target on the stock. in a report on Tuesday, June 17th. National Bank Financial started coverage on shares of Nutrien in a report on Friday, September 5th. They issued a "sector perform" rating on the stock. Morgan Stanley raised their price target on shares of Nutrien from $60.00 to $65.00 and gave the stock an "equal weight" rating in a report on Thursday, June 26th. Royal Bank Of Canada reissued an "outperform" rating on shares of Nutrien in a report on Monday, July 14th. Finally, TD Securities raised their price target on shares of Nutrien from $70.00 to $72.00 and gave the stock a "buy" rating in a report on Monday, August 11th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price 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.

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