Boston Partners Sells 15,304 Shares of Corteva, Inc. $CTVA

Boston Partners reduced its position in shares of Corteva, Inc. (NYSE:CTVA) by 1.6% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 913,886 shares of the company’s stock after selling 15,304 shares during the quarter. Boston Partners owned 0.13% of Corteva worth $68,086,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Nwam LLC increased its position in shares of Corteva by 8.7% during the second quarter. Nwam LLC now owns 4,753 shares of the company’s stock valued at $349,000 after acquiring an additional 379 shares in the last quarter. Vise Technologies Inc. bought a new stake in shares of Corteva in the 2nd quarter worth $669,000. Allworth Financial LP raised its stake in shares of Corteva by 14.4% in the second quarter. Allworth Financial LP now owns 17,523 shares of the company’s stock worth $1,306,000 after purchasing an additional 2,210 shares during the last quarter. Illinois Municipal Retirement Fund lifted its holdings in shares of Corteva by 14.1% during the second quarter. Illinois Municipal Retirement Fund now owns 201,243 shares of the company’s stock valued at $14,999,000 after purchasing an additional 24,927 shares in the last quarter. Finally, ProShare Advisors LLC boosted its position in shares of Corteva by 3.1% during the second quarter. ProShare Advisors LLC now owns 132,074 shares of the company’s stock valued at $9,843,000 after buying an additional 4,023 shares during the last quarter. Institutional investors own 81.54% of the company’s stock.

Corteva Trading Up 1.1%

Shares of Corteva stock opened at $66.45 on Thursday. Corteva, Inc. has a 1-year low of $53.40 and a 1-year high of $77.41. The company’s fifty day simple moving average is $65.95 and its 200-day simple moving average is $69.54. 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 stock has a market capitalization of $44.90 billion, a PE ratio of 28.40, a P/E/G ratio of 1.49 and a beta of 0.81.

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

Corteva Dividend Announcement

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

Insider Activity

In related news, EVP Robert D. King sold 37,280 shares of the stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $74.20, for a total value of $2,766,176.00. Following the completion of the sale, the executive vice president directly owned 49,262 shares of the company’s stock, valued at approximately $3,655,240.40. This represents a 43.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

CTVA has been the subject of a number of recent analyst reports. Mizuho decreased their target price on Corteva from $85.00 to $78.00 and set an “outperform” rating for the company in a research report on Wednesday, October 8th. JPMorgan Chase & Co. raised shares of Corteva from a “neutral” rating to an “overweight” rating and set a $67.00 price objective for the company in a report on Thursday, October 2nd. The Goldman Sachs Group dropped their target price on shares of Corteva from $85.00 to $77.00 and set a “buy” rating on the stock in a report on Wednesday, October 22nd. Wall Street Zen raised shares of Corteva from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Wolfe Research increased their price target on Corteva from $79.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Fifteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Corteva currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.18.

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.