Corteva, Inc. $CTVA Shares Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS raised its position in Corteva, Inc. (NYSE:CTVA) by 58.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 398,576 shares of the company’s stock after acquiring an additional 146,900 shares during the period. KLP Kapitalforvaltning AS owned approximately 0.06% of Corteva worth $26,956,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CTVA. Moody National Bank Trust Division raised its holdings in Corteva by 0.7% during the second quarter. Moody National Bank Trust Division now owns 22,139 shares of the company’s stock worth $1,650,000 after purchasing an additional 143 shares in the last quarter. NORTHSTAR ASSET MANAGEMENT Co boosted its holdings in Corteva by 2.2% in the 2nd quarter. NORTHSTAR ASSET MANAGEMENT Co now owns 6,940 shares of the company’s stock valued at $517,000 after purchasing an additional 150 shares in the last quarter. NewEdge Advisors LLC increased its position in Corteva by 0.5% during the 1st quarter. NewEdge Advisors LLC now owns 31,455 shares of the company’s stock worth $1,979,000 after purchasing an additional 152 shares during the period. Empirical Finance LLC raised its stake in shares of Corteva by 0.6% during the 2nd quarter. Empirical Finance LLC now owns 24,935 shares of the company’s stock worth $1,858,000 after buying an additional 153 shares in the last quarter. Finally, Exchange Capital Management Inc. lifted its holdings in shares of Corteva by 0.3% in the 2nd quarter. Exchange Capital Management Inc. now owns 56,901 shares of the company’s stock valued at $4,241,000 after buying an additional 161 shares during the period. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Trading Down 1.1%

Shares of CTVA stock opened at $68.59 on Thursday. Corteva, Inc. has a fifty-two week low of $53.40 and a fifty-two week high of $77.41. The stock has a market cap of $46.34 billion, a P/E ratio of 29.31, a P/E/G ratio of 1.43 and a beta of 0.74. The business has a fifty day simple moving average of $65.83 and a 200-day simple moving average of $68.85. The company has a quick ratio of 1.07, a current ratio of 1.58 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, topping the consensus estimate of ($0.49) by $0.26. The business had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.47 billion. Corteva had a net margin of 9.19% and a return on equity of 9.37%. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.49) EPS. On average, analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Monday, December 1st. Corteva’s dividend payout ratio is 30.77%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CTVA. KeyCorp reaffirmed a “sector weight” rating on shares of Corteva in a report on Friday, October 3rd. UBS Group reduced their target price on Corteva from $85.00 to $81.00 and set a “buy” rating for the company in a report on Thursday, October 30th. Zacks Research cut shares of Corteva from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 30th. Mizuho cut their price target on shares of Corteva from $85.00 to $78.00 and set an “outperform” rating for the company in a report on Wednesday, October 8th. Finally, Rothschild & Co Redburn reduced their price objective on shares of Corteva from $71.00 to $65.00 and set a “neutral” rating for the company in a research note on Tuesday, November 11th. Sixteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $78.21.

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.