Trivant Custom Portfolio Group LLC, a financial investment firm, has recently made a strategic move by acquiring a new stake in Nutrien Ltd. (NYSE:NTR). This purchase was revealed in their most recent disclosure with the Securities and Exchange Commission (SEC), conducted during the 1st quarter. The fund acquired a total of 13,977 shares of Nutrien’s stock, with an approximate value of $1,032,000.
Nutrien Ltd. is a leading company in the fertilizer and agricultural industry, operating globally. This acquisition by Trivant Custom Portfolio Group LLC indicates their confidence in the potential growth and stability of Nutrien as an investment opportunity.
In addition to this development, Nutrien recently announced that it will be distributing a quarterly dividend to its shareholders. The dividend payout is scheduled to take place on Friday, October 13th. Shareholders who are recorded as owners of Nutrien’s stock on Friday, September 29th will be eligible to receive a dividend amounting to $0.53 per share. It is important to note that the ex-dividend date has been set for Thursday, September 28th.
An annualized basis calculation reveals that this dividend represents $2.12 per share and offers investors a promising yield of 3.37%. Such figures indicate that Nutrien has allocated approximately 29.78% of its earnings towards these dividend payments.
This news serves as confirmation of Nutrien’s commitment to enhancing shareholder value through dividends and underscores the importance they place on rewarding those who invest in their company.
As we approach October 13th, investors will keenly observe how this acquisition by Trivant Custom Portfolio Group LLC contributes to the long-term growth prospects for both parties involved.
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Nutrien Ltd. Attracts Attention from Institutional Investors and Hedge Funds, Reinforcing Confidence in Growth Potential
Nutrien Ltd. (NYSE:NTR), a global leader in fertilizer and agricultural products, has attracted significant attention from institutional investors and hedge funds. Recently, Bank of America Corp DE increased its stake in Nutrien by nearly 50% during the first quarter, bringing its total ownership to over 19 million shares valued at $1.45 billion. This move shows Bank of America’s confidence in Nutrien’s growth potential.
Another major investor, Norges Bank, acquired a new stake in Nutrien worth $409.6 million during the fourth quarter of last year. The purchase further demonstrates the increasing interest among institutional investors in Nutrien’s long-term prospects.
Parnassus Investments LLC also raised its stake in Nutrien significantly by 2,781.4% during the first quarter. The firm now owns over 5 million shares of Nutrien stock valued at $400.5 million. With this increase, Parnassus Investments is betting on Nutrien’s ability to deliver sustainable value to its shareholders.
Capital International Investors has also entered the picture with a new position in Nutrien worth $521 million. This move underscores the growing appeal of Nutrien as an attractive investment opportunity.
Deutsche Bank AG has also shown its confidence in Nutrien by growing its stake by 17.7% during the fourth quarter of last year. Deutsche Bank now owns over 14 million shares of the company’s stock worth $1 billion.
In total, approximately 62.77% of Nutrien’s stock is owned by hedge funds and other institutional investors, highlighting their belief in the company’s future performance.
Analyst reports have been mixed regarding Nutrien’s outlook. Barclays downgraded Nutrien from “overweight” to “underweight” and lowered their price target for the company from $70 to $68. Conversely, Piper Sandler increased their price target on Nutrien from $70 to $73 and gave it a “neutral” rating. Stifel Nicolaus also lowered their price objective from $75 to $73, while BMO Capital Markets decreased theirs from $110 to $90. Berenberg Bank, however, raised their target price on Nutrien from $49 to $67 and deemed the stock a “hold.”
Despite these differing opinions, Nutrien has a consensus rating of “Hold” based on data from Bloomberg.com, with a consensus price target of $79.79.
As of the latest market opening, Nutrien’s stock is priced at $62.97. The company’s fifty-day simple moving average sits at $63.49, while the 200-day simple moving average stands at $65.65. Nutrien has experienced volatility over the past year with a low of $52.23 and a high of $93.18.
Nutrien’s market capitalization currently stands at $31.14 billion, and it has a price-to-earnings ratio of 8.84 along with a PEG ratio of 1.17. The beta for Nutrien is 0.93, indicating that its stock tends to be less volatile than the overall market.
In terms of financial performance, Nutrien reported earnings per share (EPS) of $2.53 for the most recent quarter ended on August 2nd, which missed analysts’ consensus estimates by ($0.30). Despite this shortfall, Nutrien still achieved a net margin of 11.05% and a return on equity of 16.41%. The company generated revenues amounting to $11.65 billion during the same period, beating analyst estimates of $11.04 billion.
It is worth noting that this quarter’s revenue represented a decline of 19.7% compared to the previous year’s corresponding quarter due to various factors impacting the industry as well as global economic challenges posed by the ongoing pandemic.
Looking ahead, equities analysts project that Nutrien will post an earnings per share of 6.68 for the current year. As the agricultural industry continues to evolve and face numerous challenges, Nutrien’s performance will be closely monitored by investors and analysts alike.
In conclusion, Nutrien has attracted significant attention from institutional investors and hedge funds, reinforcing their belief in the company’s future growth potential. Despite mixed analyst opinions, Nutrien remains a stock with a consensus rating of “Hold.” With a market capitalization of over $31 billion, Nutrien is poised to navigate through ongoing industry challenges and capitalize on opportunities in the global agricultural market.
