Fifth Third Bancorp Boosts Position in Corteva, Inc. $CTVA

Fifth Third Bancorp raised its stake in shares of Corteva, Inc. (NYSE:CTVA) by 14.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 178,392 shares of the company’s stock after buying an additional 22,805 shares during the quarter. Fifth Third Bancorp’s holdings in Corteva were worth $11,958,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Activest Wealth Management grew its holdings in Corteva by 118.3% during the 3rd quarter. Activest Wealth Management now owns 369 shares of the company’s stock valued at $25,000 after buying an additional 200 shares in the last quarter. JPL Wealth Management LLC purchased a new position in Corteva during the 3rd quarter valued at about $25,000. True Wealth Design LLC grew its holdings in 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 buying an additional 264 shares in the last quarter. Redmont Wealth Advisors LLC purchased a new position in Corteva during the 3rd quarter valued at about $29,000. Finally, Jackson Grant Investment Advisers Inc. grew its holdings in Corteva by 90.6% during the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 448 shares of the company’s stock valued at $30,000 after buying an additional 213 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. BNP Paribas Exane lifted their target price on Corteva from $72.00 to $74.00 in a report on Monday, March 9th. Wells Fargo & Company lifted their target price on Corteva from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Tuesday, April 21st. Royal Bank Of Canada lifted their target price on Corteva from $89.00 to $95.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Bank of America lifted their target price on Corteva from $80.00 to $82.00 and gave the company a “buy” rating in a report on Thursday, January 8th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Corteva in a report on Wednesday, April 22nd. Fourteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, Corteva currently has an average rating of “Moderate Buy” and an average target price of $86.38.

Corteva Stock Down 0.1%

Shares of NYSE CTVA opened at $80.97 on Friday. Corteva, Inc. has a 12 month low of $60.53 and a 12 month high of $85.63. The company has a current ratio of 1.43, a quick ratio of 0.96 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $54.36 billion, a price-to-earnings ratio of 51.24, a PEG ratio of 2.77 and a beta of 0.59. The business has a 50-day moving average of $80.39 and a 200-day moving average of $72.12.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Tuesday, February 3rd. The company reported $0.22 EPS for the quarter, hitting the consensus estimate of $0.22. Corteva had a return on equity of 9.06% and a net margin of 6.29%.The company had revenue of $3.91 billion during the quarter, compared to analyst estimates of $4.23 billion. During the same quarter in the previous year, the firm earned $0.32 earnings per share. Corteva’s revenue was down 1.7% on a year-over-year basis. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. Sell-side analysts expect that Corteva, Inc. will post 3.62 earnings per share for the current fiscal year.

Corteva Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.72 annualized dividend and a dividend yield of 0.9%. Corteva’s payout ratio is presently 45.57%.

Insider Activity at Corteva

In other news, insider Brian Titus sold 8,311 shares of the business’s stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $76.55, for a total transaction of $636,207.05. Following the completion of the transaction, the insider owned 8,090 shares of the company’s stock, valued at approximately $619,289.50. The trade was a 50.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.15% of the company’s stock.

Corteva 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.