Munich Reinsurance Co Stock Corp in Munich Acquires Shares of 34,621 Nutrien Ltd. $NTR

Munich Reinsurance Co Stock Corp in Munich acquired a new stake in shares of Nutrien Ltd. (NYSE:NTR) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 34,621 shares of the company’s stock, valued at approximately $2,180,000.

A number of other institutional investors have also made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Nutrien by 1,014.0% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 479 shares of the company’s stock valued at $30,000 after acquiring an additional 436 shares in the last quarter. Global Retirement Partners LLC acquired a new position in shares of Nutrien in the second quarter worth about $30,000. Evolution Wealth Management Inc. acquired a new position in shares of Nutrien in the first quarter worth about $32,000. Allied Private Wealth LLC purchased a new position in Nutrien in the second quarter valued at about $33,000. Finally, Sfam LLC acquired a new stake in Nutrien during the 4th quarter valued at approximately $37,000. 63.10% of the stock is owned by institutional investors and hedge funds.

Nutrien Trading Down 1.5%

NYSE:NTR opened at $79.53 on Friday. The company has a market cap of $37.95 billion, a PE ratio of 16.10, a P/E/G ratio of 0.86 and a beta of 0.62. The business’s 50 day moving average is $69.08 and its two-hundred day moving average is $70.83. The company has a quick ratio of 0.86, a current ratio of 1.39 and a debt-to-equity ratio of 0.36. Nutrien Ltd. has a 52 week low of $53.03 and a 52 week high of $85.36.

Nutrien (NYSE:NTR) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $2.61 earnings per share for the quarter, missing analysts’ consensus estimates of $2.70 by ($0.09). The firm had revenue of $10.81 billion during the quarter, compared to the consensus estimate of $10.44 billion. Nutrien had a net margin of 8.44% and a return on equity of 8.88%. Nutrien’s revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.65 earnings per share. On average, analysts predict that Nutrien Ltd. will post 4.71 EPS for the current year.

Nutrien Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 16th. Shareholders of record on Tuesday, September 29th will be paid a dividend of $0.55 per share. The ex-dividend date is Tuesday, September 29th. This represents a $2.20 annualized dividend and a yield of 2.8%. Nutrien’s payout ratio is presently 44.53%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. UBS Group dropped their price objective on Nutrien from $67.00 to $65.00 and set a “sell” rating on the stock in a report on Monday, May 11th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Nutrien in a research note on Monday, August 10th. Berenberg Bank set a $65.00 price target on shares of Nutrien and gave the stock a “hold” rating in a research report on Wednesday, June 10th. JPMorgan Chase & Co. lifted their price target on shares of Nutrien from $78.00 to $80.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. Finally, BNP Paribas Exane upgraded shares of Nutrien from a “neutral” rating to an “outperform” rating and set a $80.00 price objective on the stock in a research note on Tuesday, July 28th. Seventeen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $81.58.

Nutrien Company Profile

Nutrien Ltd. is a global fertilizer and agricultural-services company headquartered in Saskatoon, Saskatchewan, Canada. The company is publicly traded and operates across the farm input value chain, combining upstream fertilizer production with a broad retail and services platform aimed at supporting crop production worldwide. Nutrien’s business model integrates the manufacture and distribution of crop nutrients with on-the-ground agronomic support for growers and agricultural businesses.

Nutrien produces and supplies the three primary fertilizer nutrients—potash, nitrogen and phosphate—through its wholesale operations, and markets a wide range of crop inputs including seeds and crop protection products.