Mirae Asset Global Investments Co. Ltd. Increases Stock Holdings in Corteva, Inc. $CTVA

Mirae Asset Global Investments Co. Ltd. raised its position in shares of Corteva, Inc. (NYSE:CTVA) by 15.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 89,118 shares of the company’s stock after purchasing an additional 11,633 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Corteva were worth $6,027,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in Corteva in the second quarter worth approximately $434,220,000. Pacer Advisors Inc. increased its stake in shares of Corteva by 4,007.1% in the 3rd quarter. Pacer Advisors Inc. now owns 2,442,177 shares of the company’s stock worth $165,164,000 after purchasing an additional 2,382,715 shares in the last quarter. WCM Investment Management LLC increased its stake in shares of Corteva by 29.6% in the 2nd 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. Marshall Wace LLP raised its holdings in Corteva by 1,365.9% in the 2nd quarter. Marshall Wace LLP now owns 1,809,764 shares of the company’s stock worth $134,882,000 after purchasing an additional 1,686,309 shares during the period. Finally, National Pension Service grew its holdings in Corteva by 148.4% during the second quarter. National Pension Service now owns 2,454,601 shares of the company’s stock valued at $182,941,000 after purchasing an additional 1,466,268 shares during the period. Institutional investors own 81.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Rothschild & Co Redburn lowered their price objective on Corteva from $71.00 to $65.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 11th. Oppenheimer raised their target price on shares of Corteva from $76.00 to $78.00 and gave the stock an “outperform” rating in a research note on Tuesday. BNP Paribas Exane upped their price target on shares of Corteva from $70.00 to $72.00 and gave the stock a “neutral” rating in a research report on Monday, November 17th. The Goldman Sachs Group increased their price objective on shares of Corteva from $77.00 to $78.00 and gave the stock a “buy” rating in a research note on Tuesday, December 16th. Finally, Citigroup lifted their target price on shares of Corteva from $70.00 to $74.00 and gave the company a “neutral” rating in a research note on Wednesday, January 21st. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Corteva has an average rating of “Moderate Buy” and an average target price of $79.58.

Corteva Price Performance

Shares of NYSE:CTVA opened at $72.80 on Friday. The firm has a market cap of $49.19 billion, a price-to-earnings ratio of 31.11, a P/E/G ratio of 1.88 and a beta of 0.74. The firm has a fifty day moving average price of $68.11 and a 200 day moving average price of $68.37. Corteva, Inc. has a fifty-two week low of $53.40 and a fifty-two week high of $77.41. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.07 and a current ratio of 1.58.

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

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Monday, March 2nd will be issued 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 of this dividend is Monday, March 2nd. Corteva’s dividend 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.