Corteva, Inc. (NYSE:CTVA) Stock Holdings Increased by QRG Capital Management Inc.

QRG Capital Management Inc. raised its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 4.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,563 shares of the company’s stock after acquiring an additional 1,134 shares during the period. QRG Capital Management Inc.’s holdings in Corteva were worth $1,570,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CTVA. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Corteva during the 3rd quarter valued at $99,869,000. Franklin Resources Inc. raised its stake in Corteva by 6.1% during the 3rd quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company’s stock valued at $860,746,000 after acquiring an additional 856,007 shares in the last quarter. KBC Group NV raised its stake in shares of Corteva by 267.3% in the 3rd quarter. KBC Group NV now owns 1,120,104 shares of the company’s stock worth $65,851,000 after buying an additional 815,135 shares in the last quarter. State Street Corp raised its stake in shares of Corteva by 2.3% in the 3rd quarter. State Street Corp now owns 34,290,086 shares of the company’s stock worth $2,015,914,000 after buying an additional 768,519 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in shares of Corteva by 176.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 934,748 shares of the company’s stock worth $54,954,000 after buying an additional 596,073 shares in the last quarter. Institutional investors own 81.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CTVA shares. UBS Group dropped their price objective on Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Bank of America boosted their price objective on Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Barclays boosted their price objective on Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. KeyCorp boosted their price objective on Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Finally, Citigroup boosted their price objective on Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Corteva presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.79.

Insider Activity

In other news, insider Brian Titus sold 26,560 shares of Corteva stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the transaction, the insider now owns 11,347 shares in the company, valued at approximately $723,257.78. The trade was a 70.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.14% of the stock is currently owned by corporate insiders.

Corteva Stock Performance

Shares of CTVA stock opened at $62.96 on Monday. Corteva, Inc. has a 1-year low of $50.01 and a 1-year high of $66.24. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $43.16 billion, a price-to-earnings ratio of 48.81, a P/E/G ratio of 1.68 and a beta of 0.78. The stock’s fifty day simple moving average is $61.34 and its 200-day simple moving average is $59.33.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). Corteva had a net margin of 5.36% and a return on equity of 7.19%. On average, sell-side analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.17 per share. The ex-dividend date is Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.08%. Corteva’s dividend payout ratio is 52.71%.

Corteva announced that its board has initiated a share repurchase plan on Tuesday, November 19th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to reacquire up to 7.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Corteva Profile

Corteva, Inc operates in the agriculture business. It operates through two segments, Seed and Crop Protection. The Seed segment develops and supplies advanced germplasm and traits that produce optimum yield for farms. It offers trait technologies that enhance resistance to weather, disease, insects, and herbicides used to control weeds, as well as food and nutritional characteristics.