Manning & Napier Advisors LLC Buys Shares of 35,339 Nutrien Ltd. $NTR

Key Points

• Manning & Napier Advisors initiated a Nutrien position by purchasing 35,339 shares valued at approximately $2.23 million. Institutional investors collectively own 63.1% of the company, with Wellington Management increasing its stake by 440.2%.
• Nutrien reported quarterly revenue of $10.81 billion, up 3.6% year over year, but earnings of $2.61 per share fell short of the $2.70 consensus estimate. Analysts maintain a “Moderate Buy” consensus with an average price target of $81.58.
• Nutrien declared a quarterly dividend of $0.55 per share, representing an annualized dividend of $2.20 and a 3.0% yield.

Manning & Napier Advisors LLC purchased a new stake in shares of Nutrien Ltd. (NYSE:NTR - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm purchased 35,339 shares of the company's stock, valued at approximately $2,225,000.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in Nutrien by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 22,463,277 shares of the company's stock worth $1,386,546,000 after purchasing an additional 479,834 shares during the last quarter. Wellington Management Group LLP grew its holdings in Nutrien by 440.2% in the fourth quarter. Wellington Management Group LLP now owns 16,338,606 shares of the company's stock valued at $1,008,713,000 after purchasing an additional 13,313,817 shares during the last quarter. First Eagle Investment Management LLC grew its holdings in Nutrien by 0.5% in the fourth quarter. First Eagle Investment Management LLC now owns 13,307,283 shares of the company's stock valued at $821,326,000 after purchasing an additional 70,068 shares during the last quarter. Deutsche Bank AG increased its position in shares of Nutrien by 2.0% in the fourth quarter. Deutsche Bank AG now owns 9,798,196 shares of the company's stock valued at $604,745,000 after buying an additional 189,683 shares in the last quarter. Finally, TD Asset Management Inc increased its position in shares of Nutrien by 21.2% in the fourth quarter. TD Asset Management Inc now owns 8,928,534 shares of the company's stock valued at $551,821,000 after buying an additional 1,559,673 shares in the last quarter. Hedge funds and other institutional investors own 63.10% of the company's stock.

Nutrien Stock Down 2.0%

Shares of NYSE NTR opened at $72.81 on Wednesday. Nutrien Ltd. has a 1 year low of $53.03 and a 1 year high of $85.36. The firm's 50 day moving average price is $66.73 and its 200 day moving average price is $70.47. The firm has a market cap of $34.83 billion, a P/E ratio of 14.74, a price-to-earnings-growth ratio of 0.75 and a beta of 0.61. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.86 and a current ratio of 1.39.

Nutrien (NYSE:NTR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $2.61 earnings per share for the quarter, missing the consensus estimate of $2.70 by ($0.09). Nutrien had a net margin of 8.44% and a return on equity of 8.88%. The business had revenue of $10.81 billion during the quarter, compared to analyst estimates of $10.44 billion. During the same quarter last year, the firm posted $2.65 earnings per share. The company's revenue was up 3.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Nutrien Ltd. will post 4.95 earnings per share for the current year.

Nutrien Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Tuesday, September 29th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 3.0%. The ex-dividend date is Tuesday, September 29th. Nutrien's dividend payout ratio is presently 44.53%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on NTR shares. Scotiabank raised shares of Nutrien from a "sector perform" rating to a "sector outperform" rating and set a $80.00 price objective on the stock in a research note on Tuesday, June 30th. TD Securities reissued a "buy" rating on shares of Nutrien in a research note on Wednesday, May 6th. Morgan Stanley reduced their target price on Nutrien from $93.00 to $81.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 7th. UBS Group lowered their target price on Nutrien from $67.00 to $65.00 and set a "sell" rating on the stock in a report on Monday, May 11th. Finally, National Bank Financial cut their price target on Nutrien from $76.00 to $74.00 and set an "outperform" rating for the company in a report on Monday, August 10th. Seventeen analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Nutrien currently has a consensus rating of "Moderate Buy" and an average target price of $81.58.

Nutrien 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source