NewEdge Wealth LLC Makes New Investment in Corteva, Inc. $CTVA

NewEdge Wealth LLC bought a new stake in Corteva, Inc. (NYSE:CTVA) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 14,798 shares of the company’s stock, valued at approximately $1,253,000.

Several other hedge funds have also added to or reduced their stakes in CTVA. BlackRock Inc. acquired a new stake in shares of Corteva during the 2nd quarter worth about $4,560,180,000. Harris Associates L P grew its position in Corteva by 168.1% during the fourth quarter. Harris Associates L P now owns 17,026,221 shares of the company’s stock worth $1,141,268,000 after buying an additional 10,675,052 shares in the last quarter. Norges Bank acquired a new position in Corteva in the fourth quarter valued at about $504,001,000. Royal Bank of Canada raised its position in shares of Corteva by 202.1% in the 1st quarter. Royal Bank of Canada now owns 7,458,624 shares of the company’s stock valued at $624,362,000 after buying an additional 4,989,371 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in Corteva during the second quarter valued at approximately $392,447,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on CTVA shares. BMO Capital Markets increased their target price on shares of Corteva from $95.00 to $100.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd. Zacks Research cut Corteva from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Morgan Stanley boosted their target price on shares of Corteva from $84.00 to $95.00 and gave the company an “overweight” rating in a report on Thursday, May 28th. Rothschild & Co Redburn increased their price target on Corteva from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Finally, UBS Group decreased their target price on Corteva from $89.00 to $85.00 and set a “neutral” rating for the company in a research report on Tuesday. Fourteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, Corteva has an average rating of “Moderate Buy” and a consensus price target of $91.50.

Corteva Stock Up 3.0%

CTVA stock opened at $81.84 on Friday. The stock has a market cap of $54.60 billion, a P/E ratio of 54.20, a P/E/G ratio of 2.44 and a beta of 0.57. The stock’s fifty day simple moving average is $82.13 and its two-hundred day simple moving average is $80.21. The company has a current ratio of 1.52, a quick ratio of 1.10 and a debt-to-equity ratio of 0.07. Corteva, Inc. has a 1-year low of $60.53 and a 1-year high of $90.97.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Thursday, July 30th. The company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.24 by $0.06. Corteva had a net margin of 5.66% and a return on equity of 10.18%. The business had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.60 billion. During the same quarter last year, the company posted $2.20 earnings per share. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. Corteva has set its FY 2026 guidance at 3.600-3.800 EPS. Analysts expect that Corteva, Inc. will post 3.72 EPS for the current year.

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a $0.18 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.72 annualized dividend and a dividend yield of 0.9%. Corteva’s dividend payout ratio (DPR) is presently 47.68%.

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.