Corteva, Inc. $CTVA Shares Purchased by Truist Financial Corp

Truist Financial Corp increased its stake in shares of Corteva, Inc. (NYSE:CTVA) by 4.5% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 321,913 shares of the company’s stock after purchasing an additional 13,910 shares during the period. Truist Financial Corp’s holdings in Corteva were worth $21,771,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CTVA. Bank of America upped their target price on shares of Corteva from $80.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, January 8th. Wells Fargo & Company reduced their price objective on Corteva from $80.00 to $77.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 11th. Argus raised Corteva to a “strong-buy” rating in a research note on Friday, January 16th. UBS Group cut their price target on Corteva from $85.00 to $81.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. Finally, The Goldman Sachs Group lifted their price objective on Corteva from $77.00 to $78.00 and gave the company a “buy” rating in a research note on Tuesday, December 16th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $79.58.

Corteva Stock Performance

NYSE:CTVA opened at $72.80 on Friday. The firm has a market capitalization of $49.19 billion, a PE ratio of 31.11, a price-to-earnings-growth ratio of 1.88 and a beta of 0.74. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.58 and a quick ratio of 1.07. The business’s fifty day moving average price is $68.11 and its 200 day moving average price is $68.40. Corteva, Inc. has a 12 month low of $53.40 and a 12 month high of $77.41.

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

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be given 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 Monday, March 2nd. Corteva’s payout ratio is currently 30.77%.

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.