Strs Ohio Cuts Holdings in Corteva, Inc. $CTVA

Strs Ohio trimmed its position in Corteva, Inc. (NYSE:CTVA) by 21.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 339,359 shares of the company’s stock after selling 91,892 shares during the quarter. Strs Ohio’s holdings in Corteva were worth $22,951,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Corteva by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 80,188,326 shares of the company’s stock worth $5,976,436,000 after acquiring an additional 373,680 shares during the last quarter. Geode Capital Management LLC increased its position in Corteva by 1.4% in the second quarter. Geode Capital Management LLC now owns 18,047,263 shares of the company’s stock worth $1,339,651,000 after purchasing an additional 251,693 shares during the last quarter. Franklin Resources Inc. raised its stake in Corteva by 4.9% during the second quarter. Franklin Resources Inc. now owns 17,680,238 shares of the company’s stock valued at $1,317,708,000 after purchasing an additional 824,451 shares in the last quarter. WCM Investment Management LLC lifted its position in Corteva by 29.6% during the second quarter. WCM Investment Management LLC now owns 9,044,706 shares of the company’s stock valued at $672,836,000 after purchasing an additional 2,066,519 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Corteva in the 2nd quarter worth $434,220,000. 81.54% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on CTVA. JPMorgan Chase & Co. upped their target price on shares of Corteva from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday. Royal Bank Of Canada decreased their price objective on Corteva from $86.00 to $80.00 and set an “outperform” rating on the stock in a research report on Friday, October 17th. Wolfe Research raised their price objective on Corteva from $80.00 to $81.00 and gave the company an “outperform” rating in a research note on Friday, January 16th. UBS Group dropped their target price on Corteva from $85.00 to $81.00 and set a “buy” rating for the company in a report on Thursday, October 30th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Corteva in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $79.47.

Corteva Trading Up 0.2%

CTVA opened at $71.68 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.07 and a current ratio of 1.58. The stock’s 50 day moving average price is $67.26 and its 200-day moving average price is $68.40. Corteva, Inc. has a one year low of $53.40 and a one year high of $77.41. The stock has a market cap of $48.44 billion, a price-to-earnings ratio of 30.63, a P/E/G ratio of 1.82 and a beta of 0.74.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Tuesday, November 4th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.26. The company had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.47 billion. Corteva had a return on equity of 9.37% and a net margin of 9.19%.Corteva’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.49) EPS. On average, equities analysts forecast that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Monday, December 1st. Corteva’s payout ratio is currently 30.77%.

Corteva Company 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.