Boston Partners Has $53.40 Million Stock Position in Corteva, Inc. (NYSE:CTVA)

Boston Partners decreased its position in shares of Corteva, Inc. (NYSE:CTVA) by 72.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 936,676 shares of the company’s stock after selling 2,447,663 shares during the period. Boston Partners’ holdings in Corteva were worth $53,399,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new position in Corteva during the fourth quarter valued at about $161,052,000. Franklin Resources Inc. increased its stake in shares of Corteva by 6.1% in the third quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company’s stock worth $860,746,000 after purchasing an additional 856,007 shares during the period. State Street Corp increased its stake in shares of Corteva by 2.3% in the third quarter. State Street Corp now owns 34,290,086 shares of the company’s stock worth $2,015,914,000 after purchasing an additional 768,519 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Corteva by 176.0% in the third quarter. BNP Paribas Financial Markets now owns 934,748 shares of the company’s stock worth $54,954,000 after purchasing an additional 596,073 shares during the period. Finally, Dearborn Partners LLC increased its stake in shares of Corteva by 5,353.8% in the fourth quarter. Dearborn Partners LLC now owns 547,230 shares of the company’s stock worth $31,170,000 after purchasing an additional 537,196 shares during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on CTVA. Oppenheimer lifted their price objective on Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. KeyCorp boosted their price target on Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Bank of America boosted their price target on Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Citigroup boosted their price target on Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Finally, BNP Paribas upgraded Corteva to a “hold” rating in a research note on Monday, February 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $68.00.

Insiders Place Their Bets

In other Corteva news, insider Brian Titus sold 26,560 shares of the company’s 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 of the company’s stock, valued at approximately $723,257.78. This represents a 70.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.20% of the company’s stock.

Corteva Stock Up 1.5 %

NYSE CTVA opened at $62.50 on Thursday. 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 stock’s 50 day moving average is $62.25 and its two-hundred day moving average is $59.79. The company has a market capitalization of $42.85 billion, a price-to-earnings ratio of 48.45, a PEG ratio of 1.68 and a beta of 0.79. Corteva, Inc. has a 1-year low of $50.01 and a 1-year high of $66.24.

Corteva (NYSE:CTVA) last announced its earnings results on Wednesday, February 5th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.02). Corteva had a return on equity of 7.19% and a net margin of 5.36%. Equities analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.09%. The ex-dividend date was Monday, March 3rd. Corteva’s dividend payout ratio is 52.71%.

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.