Manning & Napier Group LLC purchased a new stake in shares of Nutrien Ltd. (NYSE:NTR – Get Rating) in the 2nd quarter, Holdings Channel reports. The fund purchased 33,309 shares of the company’s stock, valued at approximately $2,654,000.
Several other large investors have also recently bought and sold shares of the stock. Deutsche Bank AG boosted its position in Nutrien by 3.8% during the fourth quarter. Deutsche Bank AG now owns 10,733,433 shares of the company’s stock valued at $807,154,000 after purchasing an additional 396,613 shares during the last quarter. Mackenzie Financial Corp boosted its position in Nutrien by 15.9% during the first quarter. Mackenzie Financial Corp now owns 10,564,467 shares of the company’s stock valued at $1,099,019,000 after purchasing an additional 1,447,925 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd lifted its position in shares of Nutrien by 31.9% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 6,019,155 shares of the company’s stock valued at $628,632,000 after buying an additional 1,456,027 shares during the last quarter. Norges Bank acquired a new stake in shares of Nutrien in the fourth quarter valued at approximately $381,038,000. Finally, Black Creek Investment Management Inc. acquired a new stake in shares of Nutrien in the fourth quarter valued at approximately $381,254,000. 63.51% of the stock is owned by institutional investors and hedge funds.
Nutrien Price Performance
Nutrien stock opened at $88.68 on Thursday. The stock’s fifty day moving average price is $87.98 and its two-hundred day moving average price is $93.20. Nutrien Ltd. has a one year low of $62.76 and a one year high of $117.25. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.21 and a quick ratio of 0.75. The firm has a market cap of $47.82 billion, a PE ratio of 7.17, a price-to-earnings-growth ratio of 0.69 and a beta of 0.90.
Nutrien Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $1.92 annualized dividend and a dividend yield of 2.17%. Nutrien’s payout ratio is 15.53%.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on the company. Barclays cut their price objective on Nutrien from $126.00 to $105.00 and set an “overweight” rating for the company in a research report on Wednesday, August 10th. TD Securities cut their price objective on Nutrien from $130.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, July 29th. Piper Sandler raised their price objective on Nutrien from $112.00 to $125.00 and gave the company an “overweight” rating in a research report on Tuesday, May 31st. Scotiabank raised Nutrien from a “sector perform” rating to a “sector outperform” rating and cut their price objective for the company from $118.00 to $110.00 in a research report on Tuesday, August 9th. Finally, Citigroup raised their price objective on Nutrien to $102.00 in a research report on Monday, August 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $108.75.
Nutrien Ltd. provides crop inputs and services. It offers potash, nitrogen, phosphate, and sulfate products; and financial solutions. The company also distributes crop nutrients, crop protection products, seeds, and merchandise products through approximately 2,000 retail locations in the United States, Canada, South America, and Australia.
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