Dearborn Partners LLC Purchases New Holdings in Corteva, Inc. $CTVA

Dearborn Partners LLC acquired a new stake in shares of Corteva, Inc. (NYSE:CTVA) in the 2nd quarter, HoldingsChannel reports. The firm acquired 373,180 shares of the company’s stock, valued at approximately $31,605,000. Corteva comprises about 1.5% of Dearborn Partners LLC’s portfolio, making the stock its 16th biggest holding.

Other hedge funds also recently added to or reduced their stakes in the company. Hayek Kallen Investment Management purchased a new position in shares of Corteva in the 2nd quarter valued at approximately $290,000. Equitable Holdings Inc. acquired a new position in shares of Corteva in the second quarter valued at approximately $1,486,000. Coastal Bridge Advisors LLC purchased a new stake in shares of Corteva during the second quarter worth approximately $1,234,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Corteva during the second quarter worth $19,642,000. Finally, MASTERINVEST Kapitalanlage GmbH purchased a new position in Corteva in the 2nd quarter valued at $496,000. 81.54% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Bank of America boosted their price objective on shares of Corteva from $90.00 to $96.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Barclays lifted their target price on shares of Corteva from $84.00 to $91.00 and gave the company an “overweight” rating in a report on Thursday, June 11th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $101.00 price target on shares of Corteva in a research note on Monday, August 3rd. UBS Group cut their price target on shares of Corteva from $89.00 to $85.00 and set a “neutral” rating for the company in a report on Tuesday, August 18th. Finally, CICC Research raised their price objective on shares of Corteva from $80.00 to $93.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. Fourteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $91.50.

Corteva Trading Down 0.7%

Shares of CTVA opened at $82.27 on Friday. Corteva, Inc. has a twelve month low of $60.53 and a twelve month high of $90.97. The company has a current ratio of 1.52, a quick ratio of 1.10 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $54.89 billion, a P/E ratio of 54.48, a PEG ratio of 2.54 and a beta of 0.57. The firm’s 50-day moving average is $82.58 and its two-hundred day moving average is $80.52.

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Thursday, July 30th. The company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.24 by $0.06. The company had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.60 billion. Corteva had a net margin of 5.66% and a return on equity of 10.18%. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period last year, the firm earned $2.20 EPS. Corteva has set its FY 2026 guidance at 3.600-3.800 EPS. On average, research analysts predict that Corteva, Inc. will post 3.72 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Tuesday, September 1st. Corteva’s payout ratio is presently 47.68%.

About Corteva

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.