Allianz Asset Management GmbH Lowers Stake in Nutrien Ltd. $NTR

Key Points

• Allianz Asset Management GmbH reduced its stake in Nutrien Ltd. by 17.5%, selling 115,562 shares, and now owns approximately 0.11% of the company valued at $31.6 million.
• Several institutional investors, including JPMorgan Chase and Vanguard Group, have increased their holdings in Nutrien during the first quarter.
• Nutrien recently declared a quarterly dividend of $0.545 per share, providing a 3.8% dividend yield, with a dividend payout ratio of 78.14%.

Allianz Asset Management GmbH reduced its holdings in shares of Nutrien Ltd. (NYSE:NTR - Free Report) by 17.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 543,588 shares of the company's stock after selling 115,562 shares during the period. Allianz Asset Management GmbH owned approximately 0.11% of Nutrien worth $31,611,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of NTR. JPMorgan Chase & Co. grew its position in Nutrien by 48.7% during the 1st quarter. JPMorgan Chase & Co. now owns 6,992,535 shares of the company's stock worth $347,319,000 after purchasing an additional 2,291,518 shares during the last quarter. Vanguard Group Inc. grew its position in Nutrien by 7.1% during the 1st quarter. Vanguard Group Inc. now owns 21,191,003 shares of the company's stock worth $1,051,709,000 after purchasing an additional 1,412,503 shares during the last quarter. Canada Pension Plan Investment Board grew its position in Nutrien by 17.1% during the 1st quarter. Canada Pension Plan Investment Board now owns 8,786,309 shares of the company's stock worth $436,137,000 after purchasing an additional 1,284,181 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Nutrien in the first quarter valued at about $63,542,000. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Nutrien by 16.5% during the first quarter. The Manufacturers Life Insurance Company now owns 6,554,638 shares of the company's stock worth $326,927,000 after acquiring an additional 927,041 shares during the period. 63.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on NTR. Scotiabank dropped their price target on shares of Nutrien from $62.00 to $60.00 and set a "sector perform" rating on the stock in a research note on Monday, August 11th. Wall Street Zen lowered shares of Nutrien from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 5th. UBS Group dropped their price target on shares of Nutrien from $64.00 to $63.00 and set a "neutral" rating on the stock in a research note on Thursday, August 7th. Wells Fargo & Company reiterated a "cautious" rating on shares of Nutrien in a research note on Thursday. Finally, TD Securities boosted their price target on shares of Nutrien from $70.00 to $72.00 and gave the stock a "buy" rating in a research note on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Nutrien has an average rating of "Hold" and an average target price of $62.78.

Nutrien Trading Up 1.9%

Shares of NTR opened at $57.51 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. The firm's 50-day moving average is $57.77 and its two-hundred day moving average is $57.57. Nutrien Ltd. has a twelve month low of $43.69 and a twelve month high of $65.08. The firm has a market capitalization of $27.90 billion, a P/E ratio of 20.61, a PEG ratio of 0.94 and a beta of 0.82.

Nutrien (NYSE:NTR - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $2.65 earnings per share 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 company had revenue of $10.30 billion for the quarter, compared to analyst estimates of $10.40 billion. During the same period in the prior year, the business posted $2.34 earnings per share. The firm's revenue for the quarter was up 2.8% compared to the same quarter last year. On average, research analysts predict that Nutrien Ltd. will post 3.72 earnings per share for the current fiscal year.

Nutrien Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 17th. Stockholders of record on Monday, September 29th were given a $0.545 dividend. The ex-dividend date was Monday, September 29th. This represents a $2.18 annualized dividend and a dividend yield of 3.8%. Nutrien's dividend payout ratio is currently 78.14%.

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.

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