Corteva, Inc. (NYSE:CTVA) Shares Acquired by Arizona State Retirement System

Arizona State Retirement System lifted its position in shares of Corteva, Inc. (NYSE:CTVA) by 0.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 202,610 shares of the company’s stock after purchasing an additional 376 shares during the period. Arizona State Retirement System’s holdings in Corteva were worth $10,929,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CTVA. Redmont Wealth Advisors LLC acquired a new stake in Corteva during the first quarter worth approximately $25,000. Acadian Asset Management LLC acquired a new stake in Corteva during the 1st quarter worth $25,000. Rise Advisors LLC lifted its position in Corteva by 2,522.2% in the first quarter. Rise Advisors LLC now owns 472 shares of the company’s stock valued at $27,000 after acquiring an additional 454 shares during the last quarter. Albion Financial Group UT boosted its stake in Corteva by 77.2% in the first quarter. Albion Financial Group UT now owns 505 shares of the company’s stock valued at $29,000 after acquiring an additional 220 shares in the last quarter. Finally, Ironwood Wealth Management Inc. boosted its stake in Corteva by 106.1% in the first quarter. Ironwood Wealth Management Inc. now owns 544 shares of the company’s stock valued at $31,000 after acquiring an additional 280 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Trading Up 0.4 %

Shares of CTVA stock opened at $55.33 on Friday. Corteva, Inc. has a 1-year low of $43.22 and a 1-year high of $58.76. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.72 and a quick ratio of 1.17. The business’s fifty day moving average price is $53.81 and its 200 day moving average price is $54.61. The firm has a market capitalization of $38.56 billion, a PE ratio of 70.04, a P/E/G ratio of 1.65 and a beta of 0.77.

Corteva (NYSE:CTVA) last issued its earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.09. Corteva had a net margin of 5.31% and a return on equity of 7.30%. The company had revenue of $6.11 billion during the quarter, compared to analysts’ expectations of $6.15 billion. During the same period last year, the company posted $1.60 earnings per share. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Corteva, Inc. will post 2.72 EPS for the current fiscal year.

Corteva Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.23%. This is a boost from Corteva’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Tuesday, September 3rd. Corteva’s dividend payout ratio (DPR) is 86.08%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CTVA. Wells Fargo & Company reduced their target price on Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Mizuho reduced their price objective on Corteva from $61.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, June 18th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $65.00 target price on shares of Corteva in a research report on Wednesday, June 12th. KeyCorp reduced their price target on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Finally, OTR Global reissued a “negative” rating on shares of Corteva in a research report on Friday, June 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $61.67.

Corteva Profile

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.