Police & Firemen s Retirement System of New Jersey Has $7.72 Million Stake in Corteva, Inc. $CTVA

Police & Firemen s Retirement System of New Jersey boosted its holdings in Corteva, Inc. (NYSE:CTVA) by 3.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 103,627 shares of the company’s stock after purchasing an additional 3,769 shares during the period. Police & Firemen s Retirement System of New Jersey’s holdings in Corteva were worth $7,723,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Peak Financial Advisors LLC acquired a new position in Corteva during the second quarter valued at approximately $505,000. Cary Street Partners Financial LLC raised its stake in shares of Corteva by 20.7% during the 1st quarter. Cary Street Partners Financial LLC now owns 90,206 shares of the company’s stock worth $5,677,000 after purchasing an additional 15,448 shares in the last quarter. PGGM Investments boosted its holdings in shares of Corteva by 68.5% in the 2nd quarter. PGGM Investments now owns 1,223,444 shares of the company’s stock valued at $91,183,000 after buying an additional 497,200 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Corteva by 28.6% in the first quarter. Goldman Sachs Group Inc. now owns 2,851,993 shares of the company’s stock valued at $179,476,000 after buying an additional 634,938 shares in the last quarter. Finally, S.E.E.D. Planning Group LLC grew its stake in shares of Corteva by 70.3% in the second quarter. S.E.E.D. Planning Group LLC now owns 164,393 shares of the company’s stock valued at $12,252,000 after buying an additional 67,869 shares in the last quarter. 81.54% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Corteva news, EVP Robert D. King sold 37,280 shares of the stock in a transaction on Friday, August 29th. The stock was sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the transaction, the executive vice president owned 49,262 shares in the company, valued at $3,655,240.40. This trade represents a 43.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.14% of the stock is owned by insiders.

Corteva Stock Down 0.4%

Shares of CTVA opened at $66.20 on Friday. The firm has a market cap of $44.73 billion, a P/E ratio of 28.29, a price-to-earnings-growth ratio of 1.51 and a beta of 0.81. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.07 and a current ratio of 1.58. Corteva, Inc. has a 52 week low of $53.40 and a 52 week high of $77.41. The firm’s 50-day simple moving average is $65.83 and its 200 day simple moving average is $69.52.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Tuesday, November 4th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.26. Corteva had a net margin of 9.19% and a return on equity of 9.37%. The firm had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same period last year, the business posted ($0.49) earnings per share. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Monday, December 1st. Corteva’s dividend payout ratio is currently 30.77%.

Analysts Set New Price Targets

A number of brokerages have commented on CTVA. JPMorgan Chase & Co. upgraded shares of Corteva from a “neutral” rating to an “overweight” rating and set a $67.00 price target for the company in a research note on Thursday, October 2nd. Mizuho cut their target price on shares of Corteva from $85.00 to $78.00 and set an “outperform” rating for the company in a research note on Wednesday, October 8th. KeyCorp reissued a “sector weight” rating on shares of Corteva in a research report on Friday, October 3rd. Wells Fargo & Company lowered their price target on Corteva from $80.00 to $77.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, Oppenheimer restated an “outperform” rating and issued a $76.00 price objective on shares of Corteva in a research note on Friday, November 7th. Fifteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Corteva has a consensus rating of “Moderate Buy” and an average target price of $79.18.

Corteva Company 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.