Assetmark Inc. Acquires 8,869 Shares of Nutrien Ltd. $NTR

Assetmark Inc. raised its stake in shares of Nutrien Ltd. (NYSE:NTR) by 63.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,743 shares of the company’s stock after purchasing an additional 8,869 shares during the quarter. Assetmark Inc.’s holdings in Nutrien were worth $1,716,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Montag A & Associates Inc. raised its position in Nutrien by 310.7% in the 4th quarter. Montag A & Associates Inc. now owns 423 shares of the company’s stock valued at $26,000 after purchasing an additional 320 shares during the last quarter. Evolution Wealth Management Inc. bought a new position in Nutrien in the 1st quarter valued at $32,000. Sfam LLC acquired a new stake in shares of Nutrien in the 4th quarter valued at $37,000. Eastern Bank raised its position in shares of Nutrien by 133.0% during the fourth quarter. Eastern Bank now owns 699 shares of the company’s stock worth $43,000 after acquiring an additional 399 shares during the last quarter. Finally, Harbour Investments Inc. raised its position in shares of Nutrien by 97.2% during the fourth quarter. Harbour Investments Inc. now owns 704 shares of the company’s stock worth $43,000 after acquiring an additional 347 shares during the last quarter. 63.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NTR has been the subject of a number of recent research reports. Morgan Stanley dropped their price target on shares of Nutrien from $93.00 to $81.00 and set an “overweight” rating for the company in a research note on Tuesday, July 7th. JPMorgan Chase & Co. lifted their target price on shares of Nutrien from $78.00 to $80.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Scotiabank upgraded shares of Nutrien from a “sector perform” rating to a “sector outperform” rating and set a $80.00 target price for the company in a research report on Tuesday, June 30th. Oppenheimer cut their price target on Nutrien from $82.00 to $80.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, National Bank Financial set a $76.00 price target on Nutrien and gave the stock an “outperform” rating in a research report on Monday, July 13th. Fourteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $81.89.

Nutrien Stock Down 0.5%

NTR stock opened at $68.18 on Friday. Nutrien Ltd. has a fifty-two week low of $53.03 and a fifty-two week high of $85.36. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.24 and a quick ratio of 0.59. The stock has a market capitalization of $32.61 billion, a price-to-earnings ratio of 13.89, a PEG ratio of 0.67 and a beta of 0.62. The business’s fifty day moving average price is $66.52 and its two-hundred day moving average price is $70.04.

Nutrien (NYSE:NTR) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.48 by $0.03. The business had revenue of $6.05 billion for the quarter, compared to the consensus estimate of $5.30 billion. Nutrien had a net margin of 8.58% and a return on equity of 8.84%. Nutrien’s revenue was up 18.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.11 earnings per share. On average, equities analysts anticipate that Nutrien Ltd. will post 5.11 earnings per share for the current year.

Nutrien Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Tuesday, June 30th were paid a $0.55 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.20 annualized dividend and a yield of 3.2%. Nutrien’s dividend payout ratio is presently 44.81%.

Nutrien Profile

Nutrien Ltd. is a global fertilizer and agricultural-services company headquartered in Saskatoon, Saskatchewan, Canada. The company is publicly traded and operates across the farm input value chain, combining upstream fertilizer production with a broad retail and services platform aimed at supporting crop production worldwide. Nutrien’s business model integrates the manufacture and distribution of crop nutrients with on-the-ground agronomic support for growers and agricultural businesses.

Nutrien produces and supplies the three primary fertilizer nutrients—potash, nitrogen and phosphate—through its wholesale operations, and markets a wide range of crop inputs including seeds and crop protection products.