Lazard Asset Management LLC cut its holdings in Nutrien Ltd. (NYSE:NTR – Free Report) by 35.9% during the first quarter, Holdings Channel.com reports. The fund owned 46,512 shares of the company’s stock after selling 26,077 shares during the period. Lazard Asset Management LLC’s holdings in Nutrien were worth $3,511,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its stake 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 last quarter. Norges Bank acquired a new position in Nutrien in the 4th quarter worth $412,635,000. TD Asset Management Inc grew its holdings in shares of Nutrien by 21.2% during the fourth quarter. TD Asset Management Inc now owns 8,928,534 shares of the company’s stock worth $551,821,000 after buying an additional 1,559,673 shares in the last quarter. DJE Kapital AG grew its stake in shares of Nutrien by 1,373.6% during the 1st quarter. DJE Kapital AG now owns 1,534,869 shares of the company’s stock worth $116,111,000 after acquiring an additional 1,430,708 shares in the last quarter. Finally, Canoe Financial LP acquired a new stake in Nutrien in the 1st quarter valued at $99,603,000. Institutional investors own 63.10% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts have weighed in on NTR shares. BNP Paribas Exane raised Nutrien from a “neutral” rating to an “outperform” rating and set a $80.00 price target on the stock in a research report on Tuesday. Raymond James Financial upgraded Nutrien from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $74.00 to $90.00 in a report on Tuesday, May 5th. Berenberg Bank set a $65.00 price target on shares of Nutrien and gave the stock a “hold” rating in a research report on Wednesday, June 10th. UBS Group dropped their price objective on Nutrien from $67.00 to $65.00 and set a “sell” rating for the company in a report on Monday, May 11th. Finally, Barclays reduced their price target on shares of Nutrien from $85.00 to $81.00 and set an “overweight” rating on the stock in a research report on Monday, July 27th. Sixteen research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Nutrien currently has an average rating of “Moderate Buy” and a consensus target price of $81.84.
Nutrien Stock Down 2.5%
Shares of NYSE:NTR opened at $68.98 on Friday. The business has a fifty day simple moving average of $66.39 and a 200 day simple moving average of $70.36. 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 firm has a market cap of $33.00 billion, a P/E ratio of 14.05, a P/E/G ratio of 0.69 and a beta of 0.62. 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 announced its earnings results on Wednesday, May 6th. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.48 by $0.03. Nutrien had a return on equity of 8.84% and a net margin of 8.58%.The business had revenue of $6.05 billion for the quarter, compared to analysts’ expectations of $5.30 billion. During the same period in the prior year, the business posted $0.11 earnings per share. The firm’s revenue was up 18.5% on a year-over-year basis. Analysts predict that Nutrien Ltd. will post 5.01 earnings per share for the current year.
Nutrien Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, July 17th. Investors of record on Tuesday, June 30th were given a dividend of $0.55 per share. The ex-dividend date was Tuesday, June 30th. This represents a $2.20 annualized dividend and a dividend yield of 3.2%. Nutrien’s dividend payout ratio is presently 44.81%.
Nutrien Company 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.
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