Northwestern Mutual Wealth Management Co. Lowers Holdings in Nutrien Ltd (NTR)
Northwestern Mutual Wealth Management Co. decreased its stake in Nutrien Ltd (NYSE:NTR) by 8.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,840 shares of the company’s stock after selling 964 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Nutrien were worth $535,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Great West Life Assurance Co. Can raised its position in Nutrien by 1.9% in the second quarter. Great West Life Assurance Co. Can now owns 5,110,815 shares of the company’s stock worth $278,927,000 after acquiring an additional 95,380 shares during the period. Addenda Capital Inc. raised its position in Nutrien by 37.0% in the second quarter. Addenda Capital Inc. now owns 315,019 shares of the company’s stock worth $17,255,000 after acquiring an additional 85,080 shares during the period. US Bancorp DE raised its position in Nutrien by 17.1% in the second quarter. US Bancorp DE now owns 43,311 shares of the company’s stock worth $2,354,000 after acquiring an additional 6,327 shares during the period. Zeke Capital Advisors LLC bought a new stake in Nutrien in the second quarter worth about $1,388,000. Finally, Huntington National Bank bought a new stake in Nutrien in the second quarter worth about $199,000. 66.27% of the stock is currently owned by institutional investors and hedge funds.
NTR has been the topic of several research reports. Zacks Investment Research lowered shares of Nutrien from a “buy” rating to a “hold” rating in a research report on Saturday, August 11th. BMO Capital Markets reaffirmed a “hold” rating and issued a $54.00 price objective on shares of Nutrien in a research report on Friday, August 3rd. Royal Bank of Canada lifted their price objective on shares of Nutrien from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 18th. Citigroup lifted their target price on shares of Nutrien from $56.00 to $62.00 and gave the stock a “buy” rating in a research note on Wednesday, July 11th. Finally, Raymond James upgraded shares of Nutrien from an “outperform” rating to a “strong-buy” rating and lifted their target price for the stock from $60.00 to $65.00 in a research note on Monday, June 25th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $61.25.
Nutrien (NYSE:NTR) last posted its earnings results on Wednesday, August 1st. The company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.08. The firm had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $7.70 billion. Nutrien had a net margin of 9.83% and a return on equity of 10.27%. The company’s revenue was up 10.8% compared to the same quarter last year. equities research analysts anticipate that Nutrien Ltd will post 2.58 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 19th. Stockholders of record on Friday, September 28th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $1.60 annualized dividend and a dividend yield of 2.92%.
Nutrien Ltd. produces and markets crop nutrients worldwide. The company offers potash, nitrogen, phosphate, and solid and liquid phosphate fertilizers; and phosphate feed, ammonium sulfate, and industrial acid products. It also retails seeds, crop protection and crop nutrient products, merchandise products, and agronomic services through operating 1,500 retail locations.
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