Burkett Asset Management Ltd Acquires New Stake in Nutrien Ltd. $NTR

Burkett Asset Management Ltd acquired a new stake in shares of Nutrien Ltd. (NYSE:NTR) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 39,776 shares of the company’s stock, valued at approximately $2,459,000. Nutrien comprises about 2.5% of Burkett Asset Management Ltd’s investment portfolio, making the stock its 15th biggest holding.

A number of other large investors have also made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Nutrien by 65.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,224 shares of the company’s stock worth $1,253,000 after buying an additional 9,950 shares during the last quarter. NewEdge Advisors LLC boosted its stake in Nutrien by 6.2% in the 1st quarter. NewEdge Advisors LLC now owns 6,907 shares of the company’s stock worth $343,000 after buying an additional 404 shares during the last quarter. Focus Partners Wealth acquired a new stake in Nutrien in the 1st quarter worth about $516,000. Acadian Asset Management LLC acquired a new stake in Nutrien in the 1st quarter worth about $54,000. Finally, Prudential Financial Inc. acquired a new stake in Nutrien in the 2nd quarter worth about $203,000. Institutional investors and hedge funds own 63.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NTR. UBS Group decreased their price target on Nutrien from $67.00 to $65.00 and set a “sell” rating on the stock in a research note on Monday, May 11th. Canadian Imperial Bank of Commerce decreased their price target on Nutrien from $90.00 to $88.00 and set an “outperformer” rating on the stock in a research note on Thursday, April 30th. Royal Bank Of Canada raised their price target on Nutrien from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 7th. Wall Street Zen lowered Nutrien from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Oppenheimer raised their price target on Nutrien from $80.00 to $82.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 12th. Eleven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $81.71.

Nutrien Stock Performance

NYSE NTR opened at $65.63 on Friday. The firm has a market capitalization 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. Nutrien Ltd. has a 1-year low of $53.03 and a 1-year 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 business’s 50-day simple moving average is $71.48 and its 200-day simple moving average is $69.18.

Nutrien (NYSE:NTR) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.51 earnings per share 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 analyst estimates of $5.30 billion. Nutrien had a return on equity of 8.84% and a net margin of 8.58%.The company’s revenue was up 18.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.11 EPS. Equities analysts predict that Nutrien Ltd. will post 5.45 EPS for the current year.

Nutrien Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 17th. Stockholders of record on Tuesday, June 30th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Tuesday, June 30th. Nutrien’s payout ratio is currently 44.81%.

Nutrien Company 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.