Ninety One UK Ltd Increases Stake in Corteva, Inc. (NYSE:CTVA)

Ninety One UK Ltd increased its holdings in Corteva, Inc. (NYSE:CTVA) by 7.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 433,687 shares of the company’s stock after acquiring an additional 29,091 shares during the period. Ninety One UK Ltd’s holdings in Corteva were worth $24,703,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Czech National Bank raised its holdings in Corteva by 6.2% during the 3rd quarter. Czech National Bank now owns 141,018 shares of the company’s stock valued at $8,290,000 after buying an additional 8,202 shares during the last quarter. GAMMA Investing LLC raised its holdings in Corteva by 50.6% during the 3rd quarter. GAMMA Investing LLC now owns 11,029 shares of the company’s stock valued at $648,000 after buying an additional 3,705 shares during the last quarter. Bangor Savings Bank raised its holdings in Corteva by 34.7% during the 3rd quarter. Bangor Savings Bank now owns 935 shares of the company’s stock valued at $55,000 after buying an additional 241 shares during the last quarter. Atomi Financial Group Inc. bought a new stake in Corteva during the 3rd quarter valued at $253,000. Finally, City Holding Co. raised its holdings in Corteva by 1.6% during the 3rd quarter. City Holding Co. now owns 15,525 shares of the company’s stock valued at $913,000 after buying an additional 246 shares during the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Stock Performance

Shares of CTVA stock opened at $63.62 on Thursday. Corteva, Inc. has a one year low of $50.01 and a one year high of $66.24. The company’s 50-day moving average is $60.20 and its 200 day moving average is $58.07. The company has a market capitalization of $43.72 billion, a price-to-earnings ratio of 64.26, a price-to-earnings-growth ratio of 1.71 and a beta of 0.78. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.50.

Corteva (NYSE:CTVA) last announced its quarterly earnings data 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 net margin of 4.18% and a return on equity of 6.63%. Sell-side analysts expect that Corteva, Inc. will post 2.58 EPS for the current fiscal year.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.07%. The ex-dividend date is Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is 68.69%.

Corteva announced that its Board of Directors has approved a stock buyback plan on Tuesday, November 19th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 7.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CTVA. Bank of America upped their price target on shares of Corteva from $67.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Royal Bank of Canada upped their price objective on shares of Corteva from $68.00 to $73.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Wells Fargo & Company upped their price objective on shares of Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, January 28th. KeyCorp decreased their price objective on shares of Corteva from $69.00 to $68.00 and set an “overweight” rating for the company in a report on Friday, January 10th. Finally, Barclays upped their price objective on shares of Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Corteva has a consensus rating of “Moderate Buy” and an average price target of $67.06.

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.