Corteva, Inc. (NYSE:CTVA) Shares Purchased by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. boosted its stake in Corteva, Inc. (NYSE:CTVAGet Rating) by 45.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 47,004 shares of the company’s stock after purchasing an additional 14,698 shares during the period. Brown Brothers Harriman & Co.’s holdings in Corteva were worth $2,702,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CTVA. Landmark Wealth Management LLC purchased a new stake in Corteva during the 1st quarter worth approximately $47,000. Carl Stuart Investment Advisor Inc. purchased a new stake in shares of Corteva during the first quarter worth $28,000. CKW Financial Group raised its stake in shares of Corteva by 1,083.7% in the first quarter. CKW Financial Group now owns 509 shares of the company’s stock valued at $30,000 after acquiring an additional 466 shares in the last quarter. CarsonAllaria Wealth Management Ltd. purchased a new position in Corteva in the fourth quarter valued at $25,000. Finally, Hazlett Burt & Watson Inc. acquired a new position in Corteva during the 1st quarter worth $31,000. Hedge funds and other institutional investors own 79.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CTVA shares. Deutsche Bank Aktiengesellschaft reduced their price target on Corteva from $72.00 to $68.00 in a research report on Monday, August 8th. JPMorgan Chase & Co. upgraded shares of Corteva from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $58.00 to $63.00 in a report on Monday, August 8th. Barclays assumed coverage on shares of Corteva in a report on Wednesday, June 1st. They issued an “overweight” rating and a $71.00 price objective on the stock. UBS Group decreased their price objective on shares of Corteva from $68.00 to $64.00 in a research report on Wednesday, July 13th. Finally, Argus increased their target price on Corteva from $61.00 to $69.00 and gave the company a “buy” rating in a report on Monday, May 23rd. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $67.21.

Corteva Stock Up 0.4 %

Corteva stock opened at $62.04 on Friday. The company has a market capitalization of $44.90 billion, a P/E ratio of 26.18, a PEG ratio of 1.54 and a beta of 0.68. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.35 and a current ratio of 1.88. Corteva, Inc. has a fifty-two week low of $40.72 and a fifty-two week high of $64.03. The stock has a 50-day simple moving average of $57.67 and a 200-day simple moving average of $57.17.

Corteva (NYSE:CTVAGet Rating) last issued its quarterly earnings data on Thursday, August 4th. The company reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.17. The company had revenue of $6.25 billion during the quarter, compared to analysts’ expectations of $6.09 billion. Corteva had a return on equity of 7.26% and a net margin of 10.31%. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.40 earnings per share. Equities research analysts expect that Corteva, Inc. will post 2.58 earnings per share for the current year.

Corteva Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Friday, August 12th will be given a dividend of $0.15 per share. This is an increase from Corteva’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend is Thursday, August 11th. Corteva’s dividend payout ratio (DPR) is presently 25.32%.

Corteva Company Profile

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Corteva, Inc operates in the agriculture business. It operates through two segments, Seed and Crop Protection. The Seed segment develops and supplies advanced germplasm and traits that produce optimum yield for farms. It offers trait technologies that enhance resistance to weather, disease, insects, and herbicides used to control weeds, as well as food and nutritional characteristics.

Further Reading

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Institutional Ownership by Quarter for Corteva (NYSE:CTVA)

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