Swedbank AB Has $52.87 Million Stock Holdings in Corteva, Inc. $CTVA

Swedbank AB boosted its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 9.0% in the third quarter, Holdings Channel reports. The firm owned 781,714 shares of the company’s stock after purchasing an additional 64,534 shares during the quarter. Swedbank AB’s holdings in Corteva were worth $52,867,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of CTVA. Gladwyn Financial Advisors Inc. bought a new position in shares of Corteva during the 2nd quarter worth approximately $25,000. Total Investment Management Inc. acquired a new position in Corteva during the second quarter worth $27,000. Curat Global LLC lifted its holdings in shares of Corteva by 93.7% during the second quarter. Curat Global LLC now owns 370 shares of the company’s stock valued at $28,000 after acquiring an additional 179 shares during the period. Maryland Capital Advisors Inc. acquired a new stake in shares of Corteva in the 2nd quarter valued at $29,000. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Corteva during the 2nd quarter worth about $29,000. 81.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. KeyCorp restated a “sector weight” rating on shares of Corteva in a research report on Friday, October 3rd. UBS Group reduced their target price on Corteva from $85.00 to $81.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. Wall Street Zen raised Corteva from a “hold” rating to a “buy” rating in a report on Saturday, December 20th. Zacks Research downgraded Corteva from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 30th. Finally, Wells Fargo & Company decreased their target price on Corteva from $80.00 to $77.00 and set an “overweight” rating on the stock in a report on Tuesday, November 11th. Sixteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, Corteva currently has a consensus rating of “Moderate Buy” and an average target price of $78.21.

Corteva Stock Performance

Shares of CTVA stock opened at $67.33 on Thursday. The stock has a market cap of $45.50 billion, a PE ratio of 28.77, a price-to-earnings-growth ratio of 1.52 and a beta of 0.74. The stock has a 50-day moving average of $64.83 and a 200-day moving average of $69.22. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.58 and a quick ratio of 1.07. Corteva, Inc. has a one year low of $53.40 and a one year high of $77.41.

Corteva (NYSE:CTVA) last issued 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. Corteva had a net margin of 9.19% and a return on equity of 9.37%. The firm had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.47 billion. During the same quarter in the previous year, the company earned ($0.49) earnings per share. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, sell-side analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were issued a $0.18 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $0.72 annualized dividend and a dividend yield of 1.1%. Corteva’s payout ratio is 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.