National Pension Service Raises Holdings in Corteva, Inc. $CTVA

National Pension Service boosted its stake in shares of Corteva, Inc. (NYSE:CTVA) by 0.9% in the 3rd quarter, Holdings Channel reports. The fund owned 2,475,676 shares of the company’s stock after buying an additional 21,075 shares during the period. National Pension Service’s holdings in Corteva were worth $167,430,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of CTVA. Chilton Capital Management LLC boosted its stake in Corteva by 18.1% during the 3rd quarter. Chilton Capital Management LLC now owns 445,350 shares of the company’s stock worth $30,119,000 after purchasing an additional 68,380 shares during the last quarter. TriaGen Wealth Management LLC purchased a new position in shares of Corteva in the third quarter worth about $4,284,000. New York State Teachers Retirement System boosted its position in Corteva by 4.5% during the third quarter. New York State Teachers Retirement System now owns 551,389 shares of the company’s stock worth $37,290,000 after acquiring an additional 23,548 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in Corteva by 43.0% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,751,157 shares of the company’s stock valued at $186,061,000 after acquiring an additional 826,738 shares in the last quarter. Finally, Nordea Investment Management AB raised its holdings in Corteva by 27.4% in the 3rd quarter. Nordea Investment Management AB now owns 75,675 shares of the company’s stock valued at $5,103,000 after acquiring an additional 16,261 shares during the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

Corteva Price Performance

NYSE:CTVA opened at $72.80 on Friday. Corteva, Inc. has a 52 week low of $53.40 and a 52 week high of $77.41. The stock’s fifty day moving average is $68.11 and its two-hundred day moving average is $68.37. The company has a market capitalization of $49.19 billion, a P/E ratio of 31.11, a P/E/G ratio of 1.88 and a beta of 0.74. 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 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. The firm had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.47 billion. Corteva had a return on equity of 9.37% and a net margin of 9.19%.The company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period last year, the company earned ($0.49) EPS. Equities analysts expect that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be given a dividend of $0.18 per share. The ex-dividend date is Monday, March 2nd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.0%. Corteva’s dividend payout ratio (DPR) is currently 30.77%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Argus upgraded Corteva to a “strong-buy” rating in a report on Friday, January 16th. 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 note on Tuesday, November 11th. Wolfe Research upped their target price on Corteva from $80.00 to $81.00 and gave the company an “outperform” rating in a report on Friday, January 16th. BNP Paribas Exane lifted their price target on Corteva from $70.00 to $72.00 and gave the stock a “neutral” rating in a report on Monday, November 17th. Finally, Citigroup boosted their price target on shares of Corteva from $70.00 to $74.00 and gave the company a “neutral” rating in a research report on Wednesday, January 21st. Two research 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. According to data from MarketBeat.com, Corteva presently has a consensus rating of “Moderate Buy” and an average target price of $79.58.

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.