MAI Capital Management Purchases 1,961 Shares of Nutrien Ltd. (NYSE:NTR)

Posted by Defense World Staff on Aug 24th, 2023

MAI Capital Management grew its position in shares of Nutrien Ltd. (NYSE:NTR – Free Report) by 53.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,641 shares of the company’s stock after buying an additional 1,961 shares during the quarter. MAI Capital Management’s holdings in Nutrien were worth $417,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NTR. GPS Wealth Strategies Group LLC bought a new stake in Nutrien during the first quarter worth $29,000. Covestor Ltd bought a new stake in shares of Nutrien during the 1st quarter worth $30,000. CoreCap Advisors LLC purchased a new position in shares of Nutrien in the 4th quarter worth about $31,000. Zions Bancorporation N.A. grew its position in Nutrien by 55.2% during the first quarter. Zions Bancorporation N.A. now owns 301 shares of the company’s stock valued at $31,000 after buying an additional 107 shares during the period. Finally, Assetmark Inc. increased its holdings in Nutrien by 2,781.3% during the first quarter. Assetmark Inc. now owns 461 shares of the company’s stock worth $34,000 after buying an additional 445 shares during the last quarter. Hedge funds and other institutional investors own 62.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NTR. TD Securities dropped their target price on shares of Nutrien from $83.00 to $81.00 and set a “buy” rating on the stock in a research note on Sunday, August 6th. Stifel Nicolaus reduced their price objective on Nutrien from $75.00 to $73.00 in a report on Friday, June 30th. Royal Bank of Canada restated an “outperform” rating and issued a $85.00 target price on shares of Nutrien in a research note on Tuesday, August 8th. HSBC cut their price target on Nutrien from $81.00 to $72.00 and set a “hold” rating for the company in a research note on Wednesday, July 26th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $70.00 price objective on shares of Nutrien in a research note on Tuesday, July 25th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Nutrien currently has an average rating of “Hold” and an average price target of $78.84.

Get Our Latest Stock Report on NTR

Nutrien Trading Down 0.0 %

Nutrien stock opened at $60.35 on Thursday. The stock has a market cap of $29.84 billion, a P/E ratio of 8.48, a PEG ratio of 1.13 and a beta of 0.92. Nutrien Ltd. has a fifty-two week low of $52.23 and a fifty-two week high of $102.73. The firm’s fifty day moving average price is $62.50 and its 200-day moving average price is $67.18. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.78 and a current ratio of 1.26.

Nutrien (NYSE:NTR – Get Free Report) last issued its quarterly earnings data on Wednesday, August 2nd. The company reported $2.53 EPS for the quarter, missing the consensus estimate of $2.83 by ($0.30). The business had revenue of $11.65 billion for the quarter, compared to analysts’ expectations of $11.04 billion. Nutrien had a return on equity of 16.41% and a net margin of 11.05%. The firm’s revenue for the quarter was down 19.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.85 EPS. Equities research analysts forecast that Nutrien Ltd. will post 6.68 earnings per share for the current fiscal year.

Nutrien Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 3.51%. The ex-dividend date of this dividend is Thursday, September 28th. Nutrien’s dividend payout ratio (DPR) is currently 29.78%.

Nutrien Profile

(Free Report)

Nutrien Ltd. provides crop inputs and services. The company operates through Retail, Potash, Nitrogen, and Phosphate segments. The Retail segment distributes crop nutrients, crop protection products, seeds, and merchandise products. The Potash segment provides granular and standard potash products. The Nitrogen segment offers ammonia, urea, urea ammonium nitrate, industrial grade ammonium nitrate, and ammonium sulfate.