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

Advisors Asset Management Inc. reduced its position in Nutrien Ltd. (NYSE:NTR) by 12.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 32,973 shares of the company’s stock after selling 4,651 shares during the period. Advisors Asset Management Inc.’s holdings in Nutrien were worth $1,791,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new stake in shares of Nutrien during the 4th quarter worth approximately $3,433,000. Vanguard Group Inc. increased its position in shares of Nutrien by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 18,210,375 shares of the company’s stock valued at $1,025,790,000 after buying an additional 158,161 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Nutrien by 370.1% during the first quarter. SG Americas Securities LLC now owns 58,041 shares of the company’s stock worth $3,152,000 after purchasing an additional 45,695 shares during the period. BNP Paribas bought a new stake in Nutrien during the 1st quarter worth approximately $1,146,000. Finally, Wellington Management Group LLP boosted its holdings in shares of Nutrien by 54.3% in the fourth quarter. Wellington Management Group LLP now owns 841,144 shares of the company’s stock valued at $47,620,000 after buying an additional 296,122 shares during the period. Institutional investors own 63.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Scotiabank dropped their price target on Nutrien from $67.00 to $66.00 and set an “outperform” rating on the stock in a research note on Monday, May 13th. Piper Sandler dropped their target price on Nutrien from $56.00 to $55.00 and set an “underweight” rating on the stock in a research report on Tuesday, June 11th. Royal Bank of Canada cut their target price on Nutrien from $70.00 to $60.00 and set an “outperform” rating on the stock in a research note on Monday, July 15th. Mizuho raised shares of Nutrien from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 16th. Finally, UBS Group lowered their price objective on shares of Nutrien from $67.00 to $66.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Nutrien currently has an average rating of “Moderate Buy” and a consensus price target of $65.39.

Nutrien Stock Performance

NTR opened at $51.22 on Friday. The company has a quick ratio of 0.53, a current ratio of 1.15 and a debt-to-equity ratio of 0.36. Nutrien Ltd. has a 12-month low of $47.86 and a 12-month high of $69.12. The business has a 50 day moving average of $53.07 and a 200-day moving average of $52.89. The stock has a market cap of $25.34 billion, a price-to-earnings ratio of 29.95, a PEG ratio of 1.70 and a beta of 0.83.

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

Nutrien Announces Dividend

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

Nutrien Company Profile

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.