National Pension Service Has $58.74 Million Position in Corteva, Inc. (NYSE:CTVA)

National Pension Service cut its position in Corteva, Inc. (NYSE:CTVAGet Rating) by 12.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,021,853 shares of the company’s stock after selling 149,669 shares during the quarter. National Pension Service’s holdings in Corteva were worth $58,736,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Corteva by 2.5% in the 1st quarter. BlackRock Inc. now owns 61,242,962 shares of the company’s stock valued at $3,520,247,000 after buying an additional 1,483,373 shares in the last quarter. Capital World Investors grew its holdings in shares of Corteva by 4.5% during the 4th quarter. Capital World Investors now owns 10,586,953 shares of the company’s stock valued at $500,551,000 after purchasing an additional 452,245 shares during the last quarter. Norges Bank bought a new stake in shares of Corteva during the 4th quarter valued at approximately $465,952,000. Boston Partners grew its holdings in shares of Corteva by 1.3% during the 1st quarter. Boston Partners now owns 7,351,215 shares of the company’s stock valued at $422,568,000 after purchasing an additional 91,847 shares during the last quarter. Finally, State Farm Mutual Automobile Insurance Co. grew its holdings in shares of Corteva by 2.3% during the 1st quarter. State Farm Mutual Automobile Insurance Co. now owns 7,293,980 shares of the company’s stock valued at $419,258,000 after purchasing an additional 167,382 shares during the last quarter. 79.02% of the stock is currently owned by institutional investors and hedge funds.

Corteva Trading Up 0.4 %

NYSE:CTVA opened at $62.04 on Friday. The firm’s fifty day moving average is $57.67 and its 200-day moving average is $57.17. 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 52 week low of $40.72 and a 52 week high of $64.03. The firm has a market cap of $44.90 billion, a P/E ratio of 26.18, a P/E/G ratio of 1.54 and a beta of 0.68.

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

Corteva Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Friday, August 12th will be paid a $0.15 dividend. This is a positive change from Corteva’s previous quarterly dividend of $0.14. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend is Thursday, August 11th. Corteva’s dividend payout ratio is currently 25.32%.

Analyst Ratings Changes

Several brokerages recently issued reports on CTVA. Mizuho lifted their price target on shares of Corteva from $68.00 to $69.00 and gave the company a “buy” rating in a report on Monday, August 8th. Citigroup lifted their price target on shares of Corteva from $63.00 to $69.00 and gave the company a “buy” rating in a report on Monday, August 8th. Credit Suisse Group lifted their price target on shares of Corteva to $72.00 in a report on Tuesday, August 9th. JPMorgan Chase & Co. raised shares of Corteva from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $58.00 to $63.00 in a report on Monday, August 8th. Finally, Roth Capital raised shares of Corteva from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $67.00 to $74.00 in a report on Monday, August 8th. One equities research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Corteva has an average rating of “Moderate Buy” and a consensus price target of $67.21.

Corteva 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.

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Institutional Ownership by Quarter for Corteva (NYSE:CTVA)

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