Seaview Investment Managers LLC Purchases 6,475 Shares of Nutrien Ltd. (NYSE:NTR)

Key Points

• Seaview Investment Managers LLC significantly increased its stake in Nutrien Ltd. by 109.7%, acquiring an additional 6,475 shares, resulting in total holdings of 12,375 shares worth approximately $614,000.
• Several major investors, including Vanguard Group Inc. and JPMorgan Chase & Co., also boosted their positions in Nutrien during the 1st quarter, reflecting a trend of institutional investment in the company.
• Nutrien recently reported earnings of $2.65 per share, exceeding expectations, and announced a quarterly dividend of $0.545 per share, indicating a robust financial performance and commitment to returning value to shareholders.

Seaview Investment Managers LLC grew its position in Nutrien Ltd. (NYSE:NTR - Free Report) by 109.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,375 shares of the company's stock after purchasing an additional 6,475 shares during the quarter. Seaview Investment Managers LLC's holdings in Nutrien were worth $614,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Nutrien by 7.1% in the first quarter. Vanguard Group Inc. now owns 21,191,003 shares of the company's stock valued at $1,051,709,000 after purchasing an additional 1,412,503 shares during the period. Mackenzie Financial Corp raised its position in Nutrien by 0.7% during the 1st quarter. Mackenzie Financial Corp now owns 7,855,609 shares of the company's stock worth $389,860,000 after buying an additional 54,918 shares during the last quarter. Deutsche Bank AG lifted its stake in Nutrien by 6.5% during the 1st quarter. Deutsche Bank AG now owns 7,568,805 shares of the company's stock valued at $375,943,000 after acquiring an additional 463,748 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Nutrien by 48.7% in the 1st quarter. JPMorgan Chase & Co. now owns 6,992,535 shares of the company's stock valued at $347,319,000 after acquiring an additional 2,291,518 shares during the last quarter. Finally, ARGA Investment Management LP increased its stake in shares of Nutrien by 7.7% in the first quarter. ARGA Investment Management LP now owns 6,510,844 shares of the company's stock worth $323,132,000 after acquiring an additional 467,254 shares during the period. 63.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NTR has been the subject of a number of research reports. UBS Group decreased their target price on shares of Nutrien from $64.00 to $63.00 and set a "neutral" rating for the company in a research report on Thursday, August 7th. Bank of America lifted their price objective on Nutrien from $60.00 to $63.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Wall Street Zen upgraded Nutrien from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 9th. TD Securities lifted their price target on Nutrien from $70.00 to $72.00 and gave the company a "buy" rating in a research report on Monday. Finally, Barclays boosted their price target on Nutrien from $61.00 to $64.00 and gave the company an "equal weight" rating in a report on Monday, July 7th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $62.65.

Nutrien Stock Performance

NYSE:NTR opened at $56.89 on Thursday. The stock has a market capitalization of $27.70 billion, a P/E ratio of 20.39, a PEG ratio of 1.03 and a beta of 0.81. 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 Ltd. has a fifty-two week low of $43.69 and a fifty-two week high of $65.08. The company has a 50 day moving average price of $59.69 and a 200 day moving average price of $55.43.

Nutrien (NYSE:NTR - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $2.65 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $10.40 billion. During the same period in the previous year, the company posted $2.34 EPS. Nutrien's revenue was up 2.8% compared to the same quarter last year. Equities research analysts forecast that Nutrien Ltd. will post 3.72 EPS for the current year.

Nutrien Announces Dividend

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 paid a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Monday, September 29th. Nutrien's payout ratio is presently 78.14%.

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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