OMERS ADMINISTRATION Corp Has $4.63 Million Position in Corteva, Inc. $CTVA

OMERS ADMINISTRATION Corp increased its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 151.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 73,638 shares of the company’s stock after acquiring an additional 44,323 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Corteva were worth $4,634,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CTVA. Nuveen LLC acquired a new position in Corteva in the 1st quarter valued at $640,333,000. JPMorgan Chase & Co. grew its holdings in Corteva by 54.6% in the 1st quarter. JPMorgan Chase & Co. now owns 5,009,038 shares of the company’s stock valued at $315,219,000 after buying an additional 1,769,355 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Corteva by 65.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,251,449 shares of the company’s stock valued at $204,615,000 after buying an additional 1,290,009 shares in the last quarter. GAMMA Investing LLC grew its holdings in Corteva by 7,135.6% in the 1st quarter. GAMMA Investing LLC now owns 947,789 shares of the company’s stock valued at $59,644,000 after buying an additional 934,690 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings in Corteva by 21.0% in the 4th quarter. Deutsche Bank AG now owns 4,052,081 shares of the company’s stock valued at $230,807,000 after buying an additional 703,761 shares in the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on CTVA shares. Wall Street Zen raised Corteva from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Barclays raised Corteva from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $75.00 to $84.00 in a report on Wednesday, August 13th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Corteva in a research report on Monday, August 11th. UBS Group increased their target price on Corteva from $90.00 to $91.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $83.00 target price (up from $82.00) on shares of Corteva in a report on Friday, August 8th. Thirteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $80.25.

Corteva Price Performance

Corteva stock opened at $74.28 on Friday. The company has a current ratio of 1.68, a quick ratio of 1.23 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $50.45 billion, a PE ratio of 36.24, a P/E/G ratio of 1.72 and a beta of 0.75. Corteva, Inc. has a 12 month low of $53.40 and a 12 month high of $77.41. The stock has a 50-day moving average price of $73.42 and a two-hundred day moving average price of $67.36.

Corteva (NYSE:CTVA) last posted its earnings results on Wednesday, August 6th. The company reported $2.20 EPS for the quarter, beating the consensus estimate of $1.89 by $0.31. The firm had revenue of $6.46 billion during the quarter, compared to the consensus estimate of $6.26 billion. Corteva had a return on equity of 8.68% and a net margin of 8.16%.The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period last year, the company earned $1.83 earnings per share. Analysts expect that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be paid a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a positive change from Corteva’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 1.0%. Corteva’s payout ratio is currently 33.17%.

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.