Nuveen LLC Makes New $10.26 Million Investment in AGCO Corporation $AGCO

Key Points

• Nuveen LLC acquired a stake in AGCO Corporation worth approximately $10.26 million, consisting of 110,876 shares, representing about 0.15% ownership.
• Several hedge funds, including the Canada Pension Plan Investment Board, significantly increased their positions in AGCO during the fourth quarter, showcasing growing institutional interest in the company.
• AGCO recently announced a quarterly dividend of $0.29 per share and initiated a $1 billion stock buyback plan, signaling confidence in the company's valuation and future performance.

Nuveen LLC bought a new position in shares of AGCO Corporation (NYSE:AGCO - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 110,876 shares of the industrial products company's stock, valued at approximately $10,264,000. Nuveen LLC owned 0.15% of AGCO as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Virtu Financial LLC purchased a new stake in AGCO during the first quarter worth $1,012,000. Entropy Technologies LP purchased a new stake in AGCO during the first quarter worth $1,902,000. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in AGCO by 1,250.3% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 114,131 shares of the industrial products company's stock worth $10,565,000 after buying an additional 105,679 shares during the period. Zions Bancorporation National Association UT purchased a new stake in AGCO during the first quarter worth $1,210,000. Finally, Davis Selected Advisers increased its position in shares of AGCO by 1.8% during the first quarter. Davis Selected Advisers now owns 2,027,266 shares of the industrial products company's stock worth $187,664,000 after purchasing an additional 35,909 shares in the last quarter. Hedge funds and other institutional investors own 78.80% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AGCO. Zacks Research raised AGCO from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 18th. The Goldman Sachs Group increased their price target on AGCO from $91.00 to $107.00 and gave the company a "neutral" rating in a research note on Tuesday, May 27th. UBS Group reiterated a "neutral" rating and issued a $119.00 price target (up from $100.00) on shares of AGCO in a research note on Friday, August 8th. Morgan Stanley increased their price target on AGCO from $75.00 to $84.00 and gave the company an "underweight" rating in a research note on Monday, May 12th. Finally, Oppenheimer increased their price target on AGCO from $108.00 to $115.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $109.63.

AGCO Stock Performance

Shares of NYSE AGCO traded down $0.69 during mid-day trading on Thursday, hitting $113.17. The stock had a trading volume of 427,491 shares, compared to its average volume of 882,976. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.67 and a current ratio of 1.48. The company has a 50 day moving average of $109.88 and a two-hundred day moving average of $100.05. AGCO Corporation has a twelve month low of $73.79 and a twelve month high of $121.16. The firm has a market cap of $8.44 billion, a PE ratio of 84.45, a PEG ratio of 1.79 and a beta of 1.21.

AGCO (NYSE:AGCO - Get Free Report) last released its earnings results on Thursday, July 31st. The industrial products company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.29. AGCO had a return on equity of 8.27% and a net margin of 0.98%.The firm had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the prior year, the firm earned $2.53 EPS. The firm's revenue was down 18.8% on a year-over-year basis. AGCO has set its FY 2025 guidance at 4.750-5.00 EPS. Research analysts predict that AGCO Corporation will post 4.2 EPS for the current fiscal year.

AGCO Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 15th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, August 15th. AGCO's dividend payout ratio is presently 86.57%.

AGCO announced that its Board of Directors has authorized a stock repurchase program on Wednesday, July 9th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the industrial products company to repurchase up to 12.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.

Insider Activity

In other AGCO news, SVP Luis Fernando Sartini Felli sold 10,000 shares of the stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $109.40, for a total transaction of $1,094,000.00. Following the sale, the senior vice president directly owned 16,189 shares of the company's stock, valued at approximately $1,771,076.60. This trade represents a 38.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 16.60% of the stock is currently owned by insiders.

AGCO Profile

AGCO Corporation manufactures and distributes agricultural equipment and related replacement parts worldwide. It offers horsepower tractors for row crop production, soil cultivation, planting, land leveling, seeding, and commercial hay operations; utility tractors for small- and medium-sized farms, as well as for dairy, livestock, orchards, and vineyards; and compact tractors for small farms, specialty agricultural industries, landscaping, equestrian, and residential uses.