Belpointe Asset Management LLC Sells 1,272 Shares of Nutrien Ltd. $NTR

Belpointe Asset Management LLC lessened its position in Nutrien Ltd. (NYSE:NTR) by 20.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,997 shares of the company’s stock after selling 1,272 shares during the quarter. Belpointe Asset Management LLC’s holdings in Nutrien were worth $291,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Nutrien by 7.1% during the first quarter. Vanguard Group Inc. now owns 21,191,003 shares of the company’s stock valued at $1,051,709,000 after buying an additional 1,412,503 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Nutrien by 17.1% during the first quarter. Canada Pension Plan Investment Board now owns 8,786,309 shares of the company’s stock valued at $436,137,000 after buying an additional 1,284,181 shares during the last quarter. Mackenzie Financial Corp grew its stake in shares of Nutrien by 0.7% during the first quarter. Mackenzie Financial Corp now owns 7,855,609 shares of the company’s stock valued at $389,860,000 after buying an additional 54,918 shares during the last quarter. Deutsche Bank AG grew its stake in shares of Nutrien by 6.5% during the first quarter. Deutsche Bank AG now owns 7,568,805 shares of the company’s stock valued at $375,943,000 after buying an additional 463,748 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Nutrien by 48.7% during the first quarter. JPMorgan Chase & Co. now owns 6,992,535 shares of the company’s stock valued at $347,319,000 after buying an additional 2,291,518 shares during the last quarter. Institutional investors own 63.10% of the company’s stock.

Nutrien Stock Performance

Nutrien stock opened at $59.89 on Friday. The company has a current ratio of 1.33, a quick ratio of 0.85 and a debt-to-equity ratio of 0.39. Nutrien Ltd. has a 1-year low of $43.69 and a 1-year high of $65.08. The firm has a 50-day moving average of $57.72 and a 200-day moving average of $57.25. The firm has a market cap of $29.06 billion, a P/E ratio of 21.46, a P/E/G ratio of 0.99 and a beta of 0.82.

Nutrien (NYSE:NTR) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.41 by $0.24. Nutrien had a net margin of 5.25% and a return on equity of 6.51%. The business had revenue of $10.30 billion during the quarter, compared to analyst estimates of $10.40 billion. During the same period last year, the business posted $2.34 earnings per share. Nutrien’s quarterly revenue was up 2.8% compared to the same quarter last year. Sell-side analysts expect that Nutrien Ltd. will post 3.72 EPS for the current year.

Nutrien Dividend Announcement

The business also recently disclosed 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 is Monday, September 29th. This represents a $2.18 annualized dividend and a yield of 3.6%. Nutrien’s dividend payout ratio (DPR) is 78.14%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Scotiabank reduced their price objective on Nutrien from $62.00 to $60.00 and set a “sector perform” rating on the stock in a research note on Monday, August 11th. National Bankshares began coverage on Nutrien in a research note on Friday, September 5th. They set a “sector perform” rating and a $64.00 price objective on the stock. National Bank Financial began coverage on shares of Nutrien in a report on Friday, September 5th. They set a “sector perform” rating for the company. Wells Fargo & Company increased their target price on shares of Nutrien from $59.00 to $62.00 and gave the stock an “equal weight” rating in a report on Thursday, July 17th. Finally, Raymond James Financial lowered shares of Nutrien from an “outperform” rating to a “market perform” rating and set a $68.00 target price for the company. in a report on Tuesday, June 17th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $62.39.

Nutrien 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.