National Pension Service Purchases 65,085 Shares of Corteva, Inc. (NYSE:CTVA)

National Pension Service increased its position in Corteva, Inc. (NYSE:CTVA) by 3.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,848,642 shares of the company’s stock after buying an additional 65,085 shares during the quarter. National Pension Service’s holdings in Corteva were worth $88,587,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Stratos Wealth Partners LTD. increased its holdings in shares of Corteva by 14.6% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 11,791 shares of the company’s stock worth $603,000 after buying an additional 1,506 shares during the last quarter. Brighton Jones LLC boosted its stake in shares of Corteva by 7.0% during the 3rd quarter. Brighton Jones LLC now owns 5,212 shares of the company’s stock worth $267,000 after purchasing an additional 342 shares during the period. TIAA Trust National Association bought a new position in Corteva during the 3rd quarter valued at about $697,000. ING Groep NV raised its position in Corteva by 75.4% in the 3rd quarter. ING Groep NV now owns 342,964 shares of the company’s stock worth $17,546,000 after purchasing an additional 147,459 shares during the period. Finally, First Horizon Advisors Inc. lifted its stake in Corteva by 17.5% in the third quarter. First Horizon Advisors Inc. now owns 3,046 shares of the company’s stock worth $156,000 after purchasing an additional 453 shares during the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Stock Up 1.3 %

Shares of NYSE CTVA traded up $0.72 during trading hours on Thursday, hitting $57.54. 1,613,262 shares of the stock were exchanged, compared to its average volume of 3,548,517. The company has a market cap of $40.10 billion, a PE ratio of 73.08, a PEG ratio of 1.50 and a beta of 0.78. Corteva, Inc. has a 12 month low of $43.22 and a 12 month high of $58.81. The company has a quick ratio of 0.97, a current ratio of 1.51 and a debt-to-equity ratio of 0.10. The firm has a fifty day moving average price of $55.45 and a 200-day moving average price of $50.74.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.10. Corteva had a return on equity of 6.68% and a net margin of 3.32%. The business had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.65 billion. During the same period in the prior year, the firm posted $1.16 earnings per share. The business’s quarterly revenue was down 8.0% on a year-over-year basis. On average, sell-side analysts expect that Corteva, Inc. will post 2.83 EPS for the current year.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $0.64 annualized dividend and a dividend yield of 1.11%. Corteva’s dividend payout ratio (DPR) is currently 81.01%.

Insider Activity at Corteva

In other news, insider Brian Titus sold 12,134 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $56.65, for a total transaction of $687,391.10. Following the sale, the insider now directly owns 13,495 shares of the company’s stock, valued at $764,491.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.14% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on CTVA shares. Wolfe Research began coverage on Corteva in a research note on Friday, March 1st. They set an “outperform” rating and a $67.00 price target for the company. BMO Capital Markets upped their price target on shares of Corteva from $64.00 to $67.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Oppenheimer raised their price target on shares of Corteva from $67.00 to $69.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Corteva from $62.00 to $65.00 and gave the company a “buy” rating in a research report on Monday. Finally, Royal Bank of Canada raised their target price on shares of Corteva from $62.00 to $64.00 and gave the stock an “outperform” rating in a research report on Monday. Six investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $63.24.

About Corteva

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.