JPMorgan Chase & Co. Has $347.32 Million Holdings in Nutrien Ltd. (NYSE:NTR)

Key Points

• JPMorgan Chase & Co. increased its stake in Nutrien Ltd. by 48.7% in Q1, owning approximately 6.99 million shares worth about $347.3 million.
• Nutrien reported earnings per share of $2.65 for the most recent quarter, exceeding analyst expectations of $2.41, and a year-over-year revenue increase of 2.8%.
• The company announced a quarterly dividend of $0.545, resulting in an annualized yield of 3.9% and a payout ratio of 78.14%.

JPMorgan Chase & Co. boosted its stake in shares of Nutrien Ltd. (NYSE:NTR - Free Report) by 48.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,992,535 shares of the company's stock after purchasing an additional 2,291,518 shares during the quarter. JPMorgan Chase & Co. owned about 1.43% of Nutrien worth $347,319,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Harbour Investments Inc. boosted its position in Nutrien by 94.8% during the first quarter. Harbour Investments Inc. now owns 715 shares of the company's stock worth $35,000 after purchasing an additional 348 shares during the period. Allworth Financial LP boosted its position in Nutrien by 117.1% during the first quarter. Allworth Financial LP now owns 938 shares of the company's stock worth $50,000 after purchasing an additional 506 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Nutrien by 4,866.7% during the first quarter. GAMMA Investing LLC now owns 1,043 shares of the company's stock worth $52,000 after buying an additional 1,022 shares in the last quarter. HM Payson & Co. acquired a new stake in shares of Nutrien during the first quarter worth $65,000. Finally, Banque Cantonale Vaudoise acquired a new stake in shares of Nutrien during the first quarter worth $77,000. 63.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NTR. Barclays lifted their target price on Nutrien from $61.00 to $64.00 and gave the stock an "equal weight" rating in a report on Monday, July 7th. Wall Street Zen raised Nutrien from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. Jefferies Financial Group reissued a "hold" rating and set a $66.00 target price (up previously from $63.00) on shares of Nutrien in a report on Friday, July 11th. Scotiabank reissued a "sector perform" rating and set a $60.00 target price (down previously from $62.00) on shares of Nutrien in a report on Monday. Finally, The Goldman Sachs Group lifted their target price on Nutrien from $53.00 to $59.00 and gave the stock a "sell" rating in a report on Friday, May 9th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $62.65.

Nutrien Price Performance

Nutrien stock traded up $0.03 during midday trading on Thursday, reaching $56.91. The company's stock had a trading volume of 1,715,113 shares, compared to its average volume of 2,046,443. Nutrien Ltd. has a 52 week low of $43.69 and a 52 week high of $65.08. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 0.39. The business has a 50-day moving average price of $59.62 and a 200-day moving average price of $55.46. The stock has a market cap of $27.71 billion, a PE ratio of 20.40, a price-to-earnings-growth ratio of 1.04 and a beta of 0.81.

Nutrien (NYSE:NTR - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.24. The company 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 business's quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the business posted $2.34 earnings per share. On average, sell-side analysts predict that Nutrien Ltd. will post 3.72 EPS for the current 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. The ex-dividend date is Monday, September 29th. This represents a $2.18 annualized dividend and a yield of 3.8%. Nutrien's dividend payout ratio is presently 78.14%.

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.