Burkett Asset Management Ltd Makes New $2.46 Million Investment in Nutrien Ltd. $NTR

Burkett Asset Management Ltd acquired a new position in Nutrien Ltd. (NYSE:NTR) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 39,776 shares of the company’s stock, valued at approximately $2,459,000. Nutrien makes up 2.5% of Burkett Asset Management Ltd’s portfolio, making the stock its 15th biggest holding.

Several other large investors have also recently bought and sold shares of NTR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Nutrien by 65.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,224 shares of the company’s stock worth $1,253,000 after acquiring an additional 9,950 shares in the last quarter. NewEdge Advisors LLC raised its position in Nutrien by 6.2% in the first quarter. NewEdge Advisors LLC now owns 6,907 shares of the company’s stock worth $343,000 after acquiring an additional 404 shares in the last quarter. Focus Partners Wealth purchased a new position in Nutrien in the first quarter worth $516,000. Acadian Asset Management LLC purchased a new position in Nutrien in the first quarter worth $54,000. Finally, Prudential Financial Inc. purchased a new position in Nutrien in the second quarter worth $203,000. Hedge funds and other institutional investors own 63.10% of the company’s stock.

Nutrien Trading Up 0.9%

Shares of NTR stock opened at $65.63 on Friday. Nutrien Ltd. has a fifty-two week low of $53.03 and a fifty-two week high of $85.36. The stock has a market cap of $31.51 billion, a P/E ratio of 13.37, a P/E/G ratio of 0.60 and a beta of 0.60. The business has a fifty day simple moving average of $71.48 and a 200-day simple moving average of $69.18. The company has a quick ratio of 0.59, a current ratio of 1.24 and a debt-to-equity ratio of 0.35.

Nutrien (NYSE:NTR) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03. The business had revenue of $6.05 billion for the quarter, compared to analyst estimates of $5.30 billion. Nutrien had a return on equity of 8.84% and a net margin of 8.58%.The business’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.11 earnings per share. On average, analysts forecast that Nutrien Ltd. will post 5.45 earnings per share for the current fiscal year.

Nutrien Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.4%. Nutrien’s dividend payout ratio (DPR) is presently 44.81%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on NTR shares. Weiss Ratings upgraded Nutrien from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, June 1st. BNP Paribas Exane cut Nutrien from an “outperform” rating to a “neutral” rating in a research report on Monday, February 23rd. UBS Group dropped their price target on Nutrien from $67.00 to $65.00 and set a “sell” rating for the company in a research report on Monday, May 11th. BMO Capital Markets raised their price target on Nutrien from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, March 18th. Finally, Morgan Stanley raised their price target on Nutrien from $77.00 to $93.00 and gave the company an “overweight” rating in a research report on Wednesday, April 8th. Eleven investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $81.71.

About Nutrien

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.