Advisors Asset Management Inc. Sells 4,651 Shares of Nutrien Ltd. (NYSE:NTR)

Advisors Asset Management Inc. lessened its holdings in shares of Nutrien Ltd. (NYSE:NTR) by 12.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,973 shares of the company’s stock after selling 4,651 shares during the quarter. Advisors Asset Management Inc.’s holdings in Nutrien were worth $1,791,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Shell Asset Management Co. lifted its position in Nutrien by 75.4% during the first quarter. Shell Asset Management Co. now owns 70,041 shares of the company’s stock valued at $3,808,000 after purchasing an additional 30,111 shares in the last quarter. Natixis raised its stake in shares of Nutrien by 518.8% in the first quarter. Natixis now owns 31,490 shares of the company’s stock worth $1,711,000 after buying an additional 26,401 shares during the period. Burgundy Asset Management Ltd. raised its stake in shares of Nutrien by 12.4% in the first quarter. Burgundy Asset Management Ltd. now owns 95,500 shares of the company’s stock worth $5,188,000 after buying an additional 10,500 shares during the period. UniSuper Management Pty Ltd lifted its position in shares of Nutrien by 84.2% during the 1st quarter. UniSuper Management Pty Ltd now owns 7,000 shares of the company’s stock valued at $380,000 after buying an additional 3,200 shares in the last quarter. Finally, Clearbridge Investments LLC grew its stake in shares of Nutrien by 25.7% during the 1st quarter. Clearbridge Investments LLC now owns 724,267 shares of the company’s stock valued at $39,403,000 after acquiring an additional 148,226 shares during the period. Institutional investors own 63.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Wells Fargo & Company decreased their target price on shares of Nutrien from $68.00 to $66.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 16th. Scotiabank decreased their price objective on shares of Nutrien from $67.00 to $66.00 and set an “outperform” rating on the stock in a research report on Monday, May 13th. Mizuho upgraded shares of Nutrien from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 16th. Royal Bank of Canada cut their price target on Nutrien from $70.00 to $60.00 and set an “outperform” rating for the company in a research note on Monday, July 15th. Finally, Piper Sandler decreased their price target on Nutrien from $56.00 to $55.00 and set an “underweight” rating on the stock in a report on Tuesday, June 11th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Nutrien currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.39.

Nutrien Trading Up 0.9 %

Shares of NTR opened at $51.22 on Friday. The stock has a market capitalization of $25.34 billion, a PE ratio of 29.95, a P/E/G ratio of 1.70 and a beta of 0.83. The company’s fifty day moving average is $53.07 and its 200 day moving average is $52.89. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.53 and a current ratio of 1.15. Nutrien Ltd. has a fifty-two week low of $47.86 and a fifty-two week high of $69.12.

Nutrien (NYSE:NTR) last posted its earnings results on Wednesday, May 8th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.11. The firm had revenue of $5.39 billion for the quarter, compared to the consensus estimate of $5.38 billion. Nutrien had a net margin of 3.01% and a return on equity of 7.31%. Sell-side analysts expect that Nutrien Ltd. will post 3.78 earnings per share for the current fiscal year.

Nutrien Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Friday, June 28th were given a dividend of $0.54 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $2.16 dividend on an annualized basis and a yield of 4.22%. Nutrien’s dividend payout ratio (DPR) is presently 126.32%.

About Nutrien

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.