Louisiana State Employees Retirement System Acquires Shares of 42,600 Corteva, Inc. (NYSE:CTVA)

Louisiana State Employees Retirement System acquired a new stake in Corteva, Inc. (NYSE:CTVA) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 42,600 shares of the company’s stock, valued at approximately $2,041,000.

Other large investors also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC purchased a new stake in Corteva in the 2nd quarter valued at about $28,000. CVA Family Office LLC purchased a new stake in Corteva during the fourth quarter valued at approximately $25,000. PCA Investment Advisory Services Inc. purchased a new stake in Corteva during the second quarter valued at approximately $31,000. NewSquare Capital LLC lifted its position in Corteva by 70.6% during the third quarter. NewSquare Capital LLC now owns 546 shares of the company’s stock valued at $28,000 after acquiring an additional 226 shares during the last quarter. Finally, Glass Jacobson Investment Advisors llc lifted its position in Corteva by 234.3% during the third quarter. Glass Jacobson Investment Advisors llc now owns 555 shares of the company’s stock valued at $28,000 after acquiring an additional 389 shares during the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Corteva Stock Performance

Shares of NYSE CTVA opened at $53.53 on Thursday. The company’s fifty day moving average price is $55.19 and its 200 day moving average price is $50.24. Corteva, Inc. has a 1 year low of $43.22 and a 1 year high of $63.06. The company has a market capitalization of $37.41 billion, a PE ratio of 52.48, a price-to-earnings-growth ratio of 1.40 and a beta of 0.77. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.90 and a current ratio of 1.56.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Thursday, February 1st. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.09. Corteva had a net margin of 4.27% and a return on equity of 7.43%. The firm had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.54 billion. During the same period in the prior year, the firm posted $0.16 earnings per share. On average, research analysts predict that Corteva, Inc. will post 2.86 earnings per share for the current year.

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend was Thursday, February 29th. Corteva’s payout ratio is 62.75%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CTVA. KeyCorp increased their target price on shares of Corteva from $63.00 to $66.00 and gave the company an “overweight” rating in a research report on Tuesday, April 9th. Wells Fargo & Company increased their target price on shares of Corteva from $54.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. Barclays increased their target price on shares of Corteva from $55.00 to $58.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 10th. Oppenheimer increased their target price on shares of Corteva from $62.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, Royal Bank of Canada upped their price target on shares of Corteva from $56.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Six research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $63.29.

About Corteva

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.