Corteva, Inc. $CTVA Shares Acquired by Truist Financial Corp

Truist Financial Corp lifted its stake in shares of Corteva, Inc. (NYSE:CTVA) by 4.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 321,913 shares of the company’s stock after purchasing an additional 13,910 shares during the period. Truist Financial Corp’s holdings in Corteva were worth $21,771,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Phoenix Financial Ltd. boosted its holdings in Corteva by 44.9% in the 3rd quarter. Phoenix Financial Ltd. now owns 5,023 shares of the company’s stock worth $340,000 after buying an additional 1,556 shares during the last quarter. Chilton Capital Management LLC lifted its position in shares of Corteva by 18.1% in the third quarter. Chilton Capital Management LLC now owns 445,350 shares of the company’s stock valued at $30,119,000 after acquiring an additional 68,380 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Corteva by 4.1% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 87,870 shares of the company’s stock worth $5,970,000 after acquiring an additional 3,472 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its position in shares of Corteva by 7.3% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 19,315 shares of the company’s stock worth $1,224,000 after purchasing an additional 1,311 shares in the last quarter. Finally, Retirement Systems of Alabama lifted its holdings in Corteva by 418.4% in the 3rd quarter. Retirement Systems of Alabama now owns 758,864 shares of the company’s stock valued at $51,322,000 after purchasing an additional 612,485 shares in the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CTVA shares. The Goldman Sachs Group upped their target price on shares of Corteva from $77.00 to $78.00 and gave the stock a “buy” rating in a report on Tuesday, December 16th. Wells Fargo & Company dropped their price objective on shares of Corteva from $80.00 to $77.00 and set an “overweight” rating for the company in a research note on Tuesday, November 11th. Bank of America increased 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. Argus upgraded Corteva to a “strong-buy” rating in a report on Friday, January 16th. Finally, UBS Group dropped their price target on Corteva from $85.00 to $81.00 and set a “buy” rating for the company in a research report on Thursday, October 30th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $79.58.

Corteva Stock Down 1.4%

CTVA stock opened at $72.80 on Friday. Corteva, Inc. has a one year low of $53.40 and a one year high of $77.41. The firm has a market cap of $49.19 billion, a PE ratio of 31.11, a PEG ratio of 1.88 and a beta of 0.74. The firm’s 50 day moving average price is $68.11 and its 200-day moving average price is $68.40. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.07 and a current ratio of 1.58.

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

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors 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 is Monday, March 2nd. Corteva’s payout ratio is 30.77%.

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.