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

Belpointe Asset Management LLC purchased a new position in Nutrien Ltd. (NYSE:NTR) 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) 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.