The Manufacturers Life Insurance Company Has $344.07 Million Position in Nutrien Ltd. $NTR

Key Points

• The Manufacturers Life Insurance Company reduced its Nutrien stake by 1.0% in the first quarter, selling 45,860 shares. It still owns 4.56 million shares valued at approximately $344.1 million, or 0.95% of the company.
• Nutrien reported quarterly revenue of $6.05 billion, up 18.5% year over year, and earnings of $0.51 per share, exceeding analyst estimates. The company also maintains a quarterly dividend of $0.55, equivalent to a 3.3% annualized yield.
• Analyst sentiment remains positive, with 16 Buy ratings, four Holds and one Sell; Nutrien has a consensus rating of Moderate Buy and an average price target of $81.94 versus its recent price of $67.46.

The Manufacturers Life Insurance Company lowered its holdings in Nutrien Ltd. (NYSE:NTR - Free Report) by 1.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,561,747 shares of the company's stock after selling 45,860 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.95% of Nutrien worth $344,067,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in Nutrien by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 22,463,277 shares of the company's stock valued at $1,386,546,000 after buying an additional 479,834 shares during the period. Wellington Management Group LLP boosted its position in Nutrien by 440.2% during the 4th quarter. Wellington Management Group LLP now owns 16,338,606 shares of the company's stock worth $1,008,713,000 after acquiring an additional 13,313,817 shares during the period. First Eagle Investment Management LLC boosted its position in Nutrien by 0.5% during the 4th quarter. First Eagle Investment Management LLC now owns 13,307,283 shares of the company's stock worth $821,326,000 after acquiring an additional 70,068 shares during the period. Deutsche Bank AG grew its stake in Nutrien by 2.0% during the 4th quarter. Deutsche Bank AG now owns 9,798,196 shares of the company's stock valued at $604,745,000 after acquiring an additional 189,683 shares in the last quarter. Finally, TD Asset Management Inc grew its stake in Nutrien by 21.2% during the 4th quarter. TD Asset Management Inc now owns 8,928,534 shares of the company's stock valued at $551,821,000 after acquiring an additional 1,559,673 shares in the last quarter. Institutional investors and hedge funds own 63.10% of the company's stock.

Nutrien Price Performance

NYSE NTR opened at $67.46 on Tuesday. The company has a quick ratio of 0.59, a current ratio of 1.24 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $32.27 billion, a PE ratio of 13.74, a price-to-earnings-growth ratio of 0.67 and a beta of 0.62. The company has a 50 day moving average price of $66.44 and a two-hundred day moving average price of $70.14. Nutrien Ltd. has a 12-month low of $53.03 and a 12-month high of $85.36.

Nutrien (NYSE:NTR - Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.48 by $0.03. Nutrien had a net margin of 8.58% and a return on equity of 8.84%. The company had revenue of $6.05 billion during the quarter, compared to the consensus estimate of $5.30 billion. During the same period in the previous year, the firm posted $0.11 earnings per share. The company's revenue for the quarter was up 18.5% compared to the same quarter last year. As a group, equities analysts predict that Nutrien Ltd. will post 5.08 earnings per share for the current fiscal year.

Nutrien Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Tuesday, June 30th were issued a $0.55 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $2.20 dividend on an annualized basis and a yield of 3.3%. Nutrien's dividend payout ratio is currently 44.81%.

Wall Street Analyst Weigh In

NTR has been the subject of a number of research analyst reports. UBS Group reduced their price target on shares of Nutrien from $67.00 to $65.00 and set a "sell" rating for the company in a research report on Monday, May 11th. Morgan Stanley lowered their price objective on shares of Nutrien from $93.00 to $81.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 7th. Raymond James Financial upgraded shares of Nutrien from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $74.00 to $90.00 in a research note on Tuesday, May 5th. Scotiabank raised shares of Nutrien from a "sector perform" rating to a "sector outperform" rating and set a $80.00 target price for the company in a research note on Tuesday, June 30th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Nutrien from $78.00 to $80.00 and gave the company an "overweight" rating in a report on Monday, May 11th. Sixteen research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $81.94.

About Nutrien

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.

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