UniSuper Management Pty Ltd Has $15.24 Million Position in Corteva, Inc. $CTVA

UniSuper Management Pty Ltd trimmed its stake in Corteva, Inc. (NYSE:CTVA) by 3.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 225,404 shares of the company’s stock after selling 8,582 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Corteva were worth $15,244,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Teacher Retirement System of Texas grew its stake in shares of Corteva by 206.6% in the 3rd quarter. Teacher Retirement System of Texas now owns 575,276 shares of the company’s stock valued at $38,906,000 after buying an additional 387,650 shares during the period. iA Global Asset Management Inc. grew its stake in Corteva by 32.9% in the third quarter. iA Global Asset Management Inc. now owns 41,328 shares of the company’s stock valued at $2,795,000 after acquiring an additional 10,228 shares during the period. Mitchell Mcleod Pugh & Williams Inc. increased its holdings in shares of Corteva by 7.8% during the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 6,241 shares of the company’s stock valued at $396,000 after acquiring an additional 454 shares in the last quarter. Rakuten Investment Management Inc. acquired a new position in shares of Corteva during the third quarter worth approximately $10,155,000. Finally, Cornerstone Wealth Group LLC lifted its holdings in shares of Corteva by 6.7% in the 3rd quarter. Cornerstone Wealth Group LLC now owns 4,353 shares of the company’s stock worth $294,000 after purchasing an additional 274 shares in the last quarter. 81.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on CTVA shares. BNP Paribas Exane lifted their price target on shares of Corteva from $70.00 to $72.00 and gave the company a “neutral” rating in a research report on Monday, November 17th. Citigroup lifted their price objective on shares of Corteva from $70.00 to $74.00 and gave the company a “neutral” rating in a report on Wednesday. Wall Street Zen raised shares of Corteva from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th. The Goldman Sachs Group raised their price target on shares of Corteva from $77.00 to $78.00 and gave the company a “buy” rating in a research report on Tuesday, December 16th. Finally, Wolfe Research boosted their price objective on Corteva from $80.00 to $81.00 and gave the stock an “outperform” rating in a report on Friday, January 16th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.47.

Corteva Stock Up 0.2%

CTVA opened at $71.68 on Friday. Corteva, Inc. has a fifty-two week low of $53.40 and a fifty-two week high of $77.41. The firm has a market capitalization of $48.44 billion, a P/E ratio of 30.63, a PEG ratio of 1.82 and a beta of 0.74. The company’s 50-day moving average is $67.26 and its 200 day moving average is $68.40. 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 (NYSE:CTVA) last issued its quarterly earnings data on Tuesday, November 4th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same period in the prior year, the firm posted ($0.49) EPS. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. Research analysts expect 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. Investors of record on Monday, December 1st were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Monday, December 1st. Corteva’s dividend payout ratio (DPR) is presently 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.