Swedbank AB Has $52.87 Million Stake in Corteva, Inc. $CTVA

Swedbank AB increased its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 9.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 781,714 shares of the company’s stock after buying an additional 64,534 shares during the quarter. Swedbank AB owned 0.12% of Corteva worth $52,867,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Corteva in the second quarter worth $434,220,000. WCM Investment Management LLC grew its stake in shares of Corteva by 29.6% in the 2nd quarter. WCM Investment Management LLC now owns 9,044,706 shares of the company’s stock valued at $672,836,000 after buying an additional 2,066,519 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Corteva by 4,769.2% in the second quarter. Assenagon Asset Management S.A. now owns 1,924,419 shares of the company’s stock worth $143,427,000 after buying an additional 1,884,897 shares during the last quarter. Marshall Wace LLP raised its position in Corteva by 1,365.9% during the second quarter. Marshall Wace LLP now owns 1,809,764 shares of the company’s stock valued at $134,882,000 after acquiring an additional 1,686,309 shares in the last quarter. Finally, National Pension Service raised its position in Corteva by 148.4% during the second quarter. National Pension Service now owns 2,454,601 shares of the company’s stock valued at $182,941,000 after acquiring an additional 1,466,268 shares in the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CTVA has been the topic of several analyst reports. UBS Group lowered their target price on shares of Corteva from $85.00 to $81.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. BNP Paribas Exane increased their price objective on Corteva from $70.00 to $72.00 and gave the company a “neutral” rating in a report on Monday, November 17th. KeyCorp restated a “sector weight” rating on shares of Corteva in a report on Friday, October 3rd. The Goldman Sachs Group increased their price target on Corteva from $77.00 to $78.00 and gave the company a “buy” rating in a report on Tuesday, December 16th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Corteva in a research note on Monday. Sixteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Corteva currently has an average rating of “Moderate Buy” and a consensus price target of $78.21.

Corteva Stock Performance

NYSE CTVA opened at $67.33 on Thursday. The company’s fifty day moving average is $64.83 and its two-hundred day moving average is $69.22. Corteva, Inc. has a 52-week low of $53.40 and a 52-week high of $77.41. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.58 and a quick ratio of 1.07. The firm has a market capitalization of $45.50 billion, a price-to-earnings ratio of 28.77, a P/E/G ratio of 1.52 and a beta of 0.74.

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

Corteva Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Monday, December 1st. Corteva’s dividend payout ratio (DPR) is 30.77%.

Corteva Profile

Corteva, Inc (NYSE: CTVA) is an independent global agriculture company that was established as a publicly traded firm in mid?2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva’s operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.

Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.