North Dakota State Investment Board Invests $1.57 Million in Corteva, Inc. $CTVA

North Dakota State Investment Board purchased a new position in Corteva, Inc. (NYSE:CTVA) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 23,466 shares of the company’s stock, valued at approximately $1,573,000.

Other hedge funds have also made changes to their positions in the company. 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 worth $30,119,000 after purchasing an additional 68,380 shares in the last quarter. Drummond Knight Asset Management Pty Ltd bought a new position in Corteva during the fourth quarter valued at approximately $25,713,000. Truist Financial Corp raised its position in Corteva by 4.5% during the third quarter. Truist Financial Corp now owns 321,913 shares of the company’s stock valued at $21,771,000 after acquiring an additional 13,910 shares in the last quarter. Alberta Investment Management Corp acquired a new stake in shares of Corteva in the 3rd quarter valued at $5,018,000. Finally, Avior Wealth Management LLC lifted its stake in shares of Corteva by 464.7% in the 4th quarter. Avior Wealth Management LLC now owns 32,901 shares of the company’s stock valued at $2,205,000 after purchasing an additional 27,075 shares during the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CTVA. Wall Street Zen lowered shares of Corteva from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. The Goldman Sachs Group increased their price target on Corteva from $88.00 to $96.00 and gave the company a “buy” rating in a report on Tuesday, April 14th. Royal Bank Of Canada increased their price target on Corteva from $95.00 to $97.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. Rothschild & Co Redburn increased their price target on Corteva from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Corteva from $90.00 to $100.00 in a report on Monday, May 11th. Thirteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.14.

Insider Buying and Selling

In related news, insider Brian Titus sold 8,311 shares of the firm’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $76.55, for a total value of $636,207.05. Following the completion of the transaction, the insider directly owned 8,090 shares of the company’s stock, valued at $619,289.50. This trade represents a 50.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.15% of the stock is currently owned by company insiders.

Corteva Trading Down 2.6%

Shares of Corteva stock opened at $78.93 on Wednesday. The company’s fifty day simple moving average is $81.24 and its 200-day simple moving average is $73.67. The company has a market cap of $52.79 billion, a price-to-earnings ratio of 46.43, a PEG ratio of 2.49 and a beta of 0.59. The company has a current ratio of 1.47, a quick ratio of 1.03 and a debt-to-equity ratio of 0.07. Corteva, Inc. has a 1 year low of $60.53 and a 1 year high of $85.63.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.32. The business had revenue of $4.91 billion for the quarter, compared to the consensus estimate of $4.64 billion. Corteva had a net margin of 6.50% and a return on equity of 9.95%. Corteva’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter last year, the company posted $1.13 earnings per share. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. As a group, sell-side analysts expect that Corteva, Inc. will post 3.7 EPS for the current year.

Corteva Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Monday, June 1st. Corteva’s dividend payout ratio (DPR) is 42.35%.

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.