Bleakley Financial Group LLC Grows Stake in Nutrien Ltd. $NTR

Key Points

• Bleakley Financial Group LLC increased its stake in Nutrien Ltd. by 37.4% in Q2, now holding 35,742 shares valued at approximately $2.08 million.
• Nutrien's recent earnings report showed $2.65 earnings per share, exceeding analyst expectations, with revenue of $10.30 billion for the quarter.
• The company announced a quarterly dividend of $0.545, yielding around 3.7%, with a total annualized dividend of $2.18.

Bleakley Financial Group LLC raised its stake in Nutrien Ltd. (NYSE:NTR - Free Report) by 37.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,742 shares of the company's stock after acquiring an additional 9,733 shares during the period. Bleakley Financial Group LLC's holdings in Nutrien were worth $2,082,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Harbour Investments Inc. grew its stake in shares of Nutrien by 94.8% in the first quarter. Harbour Investments Inc. now owns 715 shares of the company's stock worth $35,000 after acquiring an additional 348 shares during the last quarter. Trust Co. of Toledo NA OH purchased a new stake in shares of Nutrien in the second quarter worth $49,000. Allworth Financial LP grew its stake in shares of Nutrien by 117.1% in the first quarter. Allworth Financial LP now owns 938 shares of the company's stock worth $50,000 after acquiring an additional 506 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its stake in shares of Nutrien by 1,074.7% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,022 shares of the company's stock worth $51,000 after acquiring an additional 935 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in shares of Nutrien in the first quarter worth $54,000. 63.10% of the stock is owned by hedge funds and other institutional investors.

Nutrien Stock Up 0.6%

NTR stock opened at $58.18 on Friday. Nutrien Ltd. has a fifty-two week low of $43.69 and a fifty-two week high of $65.08. The business's 50-day moving average is $57.84 and its two-hundred day moving average is $57.82. 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 company has a market cap of $28.18 billion, a price-to-earnings ratio of 20.85, a P/E/G ratio of 0.94 and a beta of 0.82.

Nutrien (NYSE:NTR - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $2.65 earnings per share for the quarter, beating 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 company 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 company earned $2.34 earnings per share. Nutrien's revenue was up 2.8% on a year-over-year basis. As a group, analysts forecast that Nutrien Ltd. will post 3.72 earnings per share 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 $0.545 dividend. The ex-dividend date of this dividend was Monday, September 29th. This represents a $2.18 dividend on an annualized basis and a yield of 3.7%. Nutrien's dividend payout ratio is currently 78.14%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on NTR shares. Zacks Research downgraded Nutrien from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 16th. Wells Fargo & Company reaffirmed a "cautious" rating on shares of Nutrien in a report on Thursday, October 16th. Oppenheimer reaffirmed an "outperform" rating on shares of Nutrien in a report on Wednesday. Jefferies Financial Group lowered their price target on Nutrien from $61.00 to $60.00 and set a "hold" rating on the stock in a report on Tuesday, September 9th. Finally, National Bank Financial started coverage on Nutrien in a report on Friday, September 5th. They set a "sector perform" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $62.78.

Nutrien Company 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.

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