National Pension Service Boosts Stock Position in Corteva, Inc. $CTVA

National Pension Service boosted its position in Corteva, Inc. (NYSE:CTVA) by 0.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,475,676 shares of the company’s stock after purchasing an additional 21,075 shares during the quarter. National Pension Service owned approximately 0.36% of Corteva worth $167,430,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CTVA. Gladwyn Financial Advisors Inc. purchased a new stake in Corteva during the second quarter valued at approximately $25,000. Activest Wealth Management increased its position in shares of Corteva by 118.3% during the third quarter. Activest Wealth Management now owns 369 shares of the company’s stock worth $25,000 after purchasing an additional 200 shares in the last quarter. True Wealth Design LLC lifted its holdings in shares of Corteva by 209.5% during the 3rd quarter. True Wealth Design LLC now owns 390 shares of the company’s stock valued at $26,000 after purchasing an additional 264 shares during the last quarter. Total Investment Management Inc. purchased a new stake in shares of Corteva during the 2nd quarter valued at $27,000. Finally, Curat Global LLC boosted its position in shares of Corteva by 93.7% in the 2nd quarter. Curat Global LLC now owns 370 shares of the company’s stock worth $28,000 after purchasing an additional 179 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CTVA has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Corteva in a research report on Monday, December 29th. JPMorgan Chase & Co. boosted their price target on Corteva from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 21st. Bank of America upped their price objective on shares of Corteva from $80.00 to $82.00 and gave the company a “buy” rating in a report on Thursday, January 8th. Oppenheimer lifted their target price on shares of Corteva from $76.00 to $78.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, BNP Paribas Exane boosted their target price on shares of Corteva from $70.00 to $72.00 and gave the stock a “neutral” rating in a research report on Monday, November 17th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $79.58.

Corteva Price Performance

Shares of NYSE CTVA opened at $72.80 on Friday. Corteva, Inc. has a 52 week low of $53.40 and a 52 week high of $77.41. The business’s 50 day moving average price is $68.11 and its 200 day moving average price is $68.37. The company has a quick ratio of 1.07, a current ratio of 1.58 and a debt-to-equity ratio of 0.07. The firm has a market cap of $49.19 billion, a P/E ratio of 31.11, a P/E/G ratio of 1.88 and a beta of 0.74.

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

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Monday, March 2nd. Corteva’s dividend payout ratio is presently 30.77%.

Corteva Company 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.