The Manufacturers Life Insurance Company Takes Position in Nutrien Ltd. $NTR

The Manufacturers Life Insurance Company acquired a new position in shares of Nutrien Ltd. (NYSE:NTRFree Report) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 5,966,277 shares of the company’s stock, valued at approximately $375,178,000.

Other hedge funds have also modified their holdings of the company. Van Hulzen Asset Management LLC acquired a new stake in shares of Nutrien during the second quarter worth $214,000. Manning & Napier Advisors LLC purchased a new stake in shares of Nutrien during the second quarter valued at $2,225,000. OMERS ADMINISTRATION Corp acquired a new position in shares of Nutrien in the 2nd quarter valued at $16,719,000. Osmosis Investment Management UK Ltd acquired a new position in shares of Nutrien in the 2nd quarter valued at $5,184,000. Finally, Sanctuary Advisors LLC purchased a new position in Nutrien in the 2nd quarter worth about $2,544,000. 63.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Morgan Stanley cut their price objective on Nutrien from $93.00 to $81.00 and set an “overweight” rating on the stock in a report on Tuesday, July 7th. UBS Group decreased their target price on shares of Nutrien from $67.00 to $65.00 and set a “sell” rating for the company in a report on Monday, May 11th. Scotia raised shares of Nutrien from a “sector perform” rating to a “sector outperform” rating and set a $80.00 target price on the stock in a research report on Tuesday, June 30th. Scotiabank upgraded shares of Nutrien from a “sector perform” rating to a “sector outperform” rating and set a $80.00 price target on the stock in a report on Tuesday, June 30th. Finally, JPMorgan Chase & Co. upped their price target on shares of Nutrien from $78.00 to $80.00 and gave the company an “overweight” rating in a research report on Monday, May 11th. Seventeen analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $81.58.

View Our Latest Stock Analysis on Nutrien

Nutrien Stock Down 1.3%

Shares of Nutrien stock opened at $74.28 on Tuesday. The stock has a 50-day moving average price of $66.58 and a 200 day moving average price of $70.46. The company has a market cap of $35.53 billion, a P/E ratio of 15.04, a P/E/G ratio of 0.76 and a beta of 0.61. The company has a current ratio of 1.39, a quick ratio of 0.86 and a debt-to-equity ratio of 0.36. Nutrien Ltd. has a 1 year low of $53.03 and a 1 year high of $85.36.

Nutrien (NYSE:NTRGet Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $2.61 EPS for the quarter, missing analysts’ consensus estimates of $2.70 by ($0.09). Nutrien had a return on equity of 8.88% and a net margin of 8.44%.The business had revenue of $10.81 billion for the quarter, compared to analyst estimates of $10.44 billion. During the same quarter in the previous year, the business posted $2.65 earnings per share. The company’s revenue was up 3.6% compared to the same quarter last year. As a group, analysts expect that Nutrien Ltd. will post 4.95 EPS for the current fiscal year.

Nutrien Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 16th. Investors of record on Tuesday, September 29th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Tuesday, September 29th. Nutrien’s dividend payout ratio (DPR) is currently 44.53%.

Nutrien Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Nutrien (NYSE:NTR)

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