Manning & Napier Group LLC Purchases New Holdings in Nutrien Ltd. (NYSE:NTR)

Manning & Napier Group LLC purchased a new stake in shares of Nutrien Ltd. (NYSE:NTRGet 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 (NYSE:NTRGet Rating) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $5.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.90 by ($0.05). Nutrien had a net margin of 19.43% and a return on equity of 28.14%. The business had revenue of $14.51 billion during the quarter, compared to the consensus estimate of $15.36 billion. As a group, research analysts expect that Nutrien Ltd. will post 16.35 EPS for the current fiscal year.

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.

About Nutrien

(Get Rating)

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.

Further Reading

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Institutional Ownership by Quarter for Nutrien (NYSE:NTR)

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