Wellington Management Group LLP Raises Stock Holdings in Nutrien Ltd. $NTR

Key Points

• Wellington Management Group LLP increased its holdings in Nutrien Ltd. by 15.2%, acquiring an additional 231,490 shares to reach a total of 1,750,830 shares, which is worth approximately $86.9 million.
• Nutrien recently declared a quarterly dividend of $0.545 per share, with a yield of 3.8%, set to be paid on October 17th.
• Analysts have boosted their price targets for Nutrien, with Barclays setting a new target of $64.00, reflecting positive sentiment and a consensus rating of "Moderate Buy".

Wellington Management Group LLP grew its position in shares of Nutrien Ltd. (NYSE:NTR - Free Report) by 15.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,750,830 shares of the company's stock after purchasing an additional 231,490 shares during the quarter. Wellington Management Group LLP owned approximately 0.36% of Nutrien worth $86,889,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its stake in Nutrien by 48.7% in the 1st quarter. JPMorgan Chase & Co. now owns 6,992,535 shares of the company's stock valued at $347,319,000 after acquiring an additional 2,291,518 shares during the period. Vanguard Group Inc. grew its stake in Nutrien by 7.1% in the 1st quarter. Vanguard Group Inc. now owns 21,191,003 shares of the company's stock valued at $1,051,709,000 after acquiring an additional 1,412,503 shares during the period. Nuveen LLC acquired a new stake in Nutrien in the 1st quarter valued at $63,542,000. Deutsche Bank AG grew its stake in Nutrien by 11.3% in the 4th quarter. Deutsche Bank AG now owns 7,105,057 shares of the company's stock valued at $317,951,000 after acquiring an additional 721,935 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in Nutrien by 16.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,923,879 shares of the company's stock valued at $244,583,000 after acquiring an additional 710,908 shares during the period. 63.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NTR has been the topic of a number of research analyst reports. Royal Bank Of Canada reissued an "outperform" rating on shares of Nutrien in a research note on Monday, July 14th. Zacks Research raised shares of Nutrien from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 18th. Barclays lifted their price target on shares of Nutrien from $61.00 to $64.00 and gave the company an "equal weight" rating in a research note on Monday, July 7th. Bank of America lifted their price target on shares of Nutrien from $60.00 to $63.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Finally, Oppenheimer lifted their price target on shares of Nutrien from $63.00 to $65.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Nutrien presently has a consensus rating of "Moderate Buy" and an average target price of $62.65.

Nutrien Trading Up 0.4%

Shares of NYSE NTR traded up $0.2030 during midday trading on Friday, reaching $57.8130. 1,313,972 shares of the stock were exchanged, compared to its average volume of 2,031,233. The stock has a market capitalization of $28.10 billion, a P/E ratio of 17.60, a PEG ratio of 0.98 and a beta of 0.81. Nutrien Ltd. has a twelve month low of $43.69 and a twelve month high of $65.08. The company has a 50 day simple moving average of $59.21 and a 200 day simple moving average of $55.69. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.85 and a current ratio of 1.33.

Nutrien (NYSE:NTR - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $2.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.24. The firm had revenue of $10.30 billion for the quarter, compared to analyst estimates of $10.40 billion. Nutrien had a net margin of 5.25% and a return on equity of 6.51%. Nutrien's revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.34 EPS. As a group, equities analysts expect that Nutrien Ltd. will post 3.72 earnings per share for the current year.

Nutrien Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Investors of record on Monday, September 29th will be issued a $0.545 dividend. This represents a $2.18 annualized dividend and a yield of 3.8%. The ex-dividend date is Monday, September 29th. Nutrien's payout ratio is 78.14%.

Nutrien Company 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.