Principle Wealth Partners LLC Makes New $989,000 Investment in Corteva, Inc. $CTVA

Principle Wealth Partners LLC acquired a new position in shares of Corteva, Inc. (NYSE:CTVA) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 11,682 shares of the company’s stock, valued at approximately $989,000.

A number of other hedge funds have also recently modified their holdings of the stock. Harris Associates L P lifted its position in Corteva by 168.1% in the fourth quarter. Harris Associates L P now owns 17,026,221 shares of the company’s stock valued at $1,141,268,000 after acquiring an additional 10,675,052 shares during the last quarter. Norges Bank purchased a new position in shares of Corteva during the fourth quarter worth about $504,001,000. Royal Bank of Canada increased its position in shares of Corteva by 202.1% during the first quarter. Royal Bank of Canada now owns 7,458,624 shares of the company’s stock worth $624,362,000 after purchasing an additional 4,989,371 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Corteva during the second quarter worth about $392,447,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Corteva by 6,527.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,148,212 shares of the company’s stock valued at $211,025,000 after purchasing an additional 3,100,709 shares during the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Corteva Stock Performance

NYSE CTVA opened at $75.73 on Tuesday. The company has a quick ratio of 1.10, a current ratio of 1.52 and a debt-to-equity ratio of 0.07. Corteva, Inc. has a 52-week low of $60.53 and a 52-week high of $90.97. The business’s 50-day moving average price is $81.78 and its 200 day moving average price is $80.09. The firm has a market cap of $50.53 billion, a P/E ratio of 50.15, a P/E/G ratio of 2.35 and a beta of 0.57.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Thursday, July 30th. The company reported $2.30 EPS for the quarter, beating the consensus estimate of $2.24 by $0.06. Corteva had a return on equity of 10.18% and a net margin of 5.66%.The firm had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.60 billion. During the same period in the prior year, the business earned $2.20 EPS. The firm’s revenue was down 1.2% compared to the same quarter last year. Corteva has set its FY 2026 guidance at 3.600-3.800 EPS. On average, equities research analysts expect that Corteva, Inc. will post 3.72 earnings per share for the current year.

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Tuesday, September 1st. Corteva’s dividend payout ratio is 47.68%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Weiss Ratings cut Corteva from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, August 3rd. Oppenheimer boosted their price objective on Corteva from $89.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Zacks Research downgraded Corteva from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 11th. Citigroup increased their price objective on Corteva from $85.00 to $86.00 and gave the company a “neutral” rating in a report on Monday, August 3rd. Finally, BMO Capital Markets lifted their target price on shares of Corteva from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Fourteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $91.70.

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.