Universal Beteiligungs und Servicegesellschaft mbH Boosts Stake in Corteva, Inc. $CTVA

Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 4.5% during the third quarter, Holdings Channel.com reports. The fund owned 539,899 shares of the company’s stock after buying an additional 23,076 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Corteva were worth $36,513,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Corteva by 0.5% during the second quarter. Vanguard Group Inc. now owns 80,188,326 shares of the company’s stock worth $5,976,436,000 after purchasing an additional 373,680 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Corteva by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 18,047,263 shares of the company’s stock worth $1,339,651,000 after buying an additional 251,693 shares during the period. Franklin Resources Inc. lifted its position in shares of Corteva by 4.9% during the 2nd quarter. Franklin Resources Inc. now owns 17,680,238 shares of the company’s stock valued at $1,317,708,000 after buying an additional 824,451 shares in the last quarter. WCM Investment Management LLC grew its stake in Corteva by 29.6% in the 2nd quarter. WCM Investment Management LLC now owns 9,044,706 shares of the company’s stock valued at $672,836,000 after acquiring an additional 2,066,519 shares during the period. Finally, Norges Bank acquired a new stake in Corteva in the 2nd quarter valued at $434,220,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on CTVA. Wall Street Zen upgraded shares of Corteva from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th. Wolfe Research boosted their target price on shares of Corteva from $80.00 to $81.00 and gave the stock an “outperform” rating in a research note on Friday, January 16th. KeyCorp reaffirmed a “sector weight” rating on shares of Corteva in a research note on Friday, October 3rd. UBS Group lowered their price objective on Corteva from $85.00 to $81.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. Finally, Mizuho increased their target price on Corteva from $78.00 to $80.00 and gave the company an “outperform” rating in a report on Friday, January 16th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $79.47.

Corteva Stock Performance

CTVA opened at $71.48 on Thursday. The firm has a market capitalization of $48.30 billion, a PE ratio of 30.55, a PEG ratio of 1.39 and a beta of 0.74. Corteva, Inc. has a twelve month low of $53.40 and a twelve month high of $77.41. The firm’s 50-day moving average price is $67.04 and its 200 day moving average price is $68.47. The company has a current ratio of 1.58, a quick ratio of 1.07 and a debt-to-equity ratio of 0.07.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Tuesday, November 4th. The company reported ($0.23) 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 company had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter in the prior year, the firm earned ($0.49) EPS. Corteva’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, sell-side analysts expect that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

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

About Corteva

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.