Texas Permanent School Fund Corp Has $6.26 Million Position in Corteva, Inc. (NYSE:CTVA)

Texas Permanent School Fund Corp cut its holdings in Corteva, Inc. (NYSE:CTVA) by 20.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 115,990 shares of the company’s stock after selling 29,112 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Corteva were worth $6,257,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of CTVA. &PARTNERS boosted its holdings in shares of Corteva by 4.3% in the first quarter. &PARTNERS now owns 4,829 shares of the company’s stock valued at $278,000 after buying an additional 200 shares during the period. Herr Investment Group LLC increased its holdings in Corteva by 2.8% during the 1st quarter. Herr Investment Group LLC now owns 7,400 shares of the company’s stock worth $427,000 after purchasing an additional 200 shares in the last quarter. Azzad Asset Management Inc. ADV raised its stake in shares of Corteva by 0.4% in the 2nd quarter. Azzad Asset Management Inc. ADV now owns 48,200 shares of the company’s stock valued at $2,600,000 after purchasing an additional 203 shares during the period. Albion Financial Group UT lifted its holdings in shares of 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 purchasing an additional 220 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its position in shares of Corteva by 1.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 17,986 shares of the company’s stock worth $1,037,000 after buying an additional 227 shares during the period. 81.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CTVA has been the topic of a number of recent research reports. Argus lowered Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. KeyCorp cut their price objective on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. JPMorgan Chase & Co. decreased their target price on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. OTR Global reissued a “negative” rating on shares of Corteva in a research report on Friday, June 7th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $65.00 price objective on shares of Corteva in a report on Wednesday, June 12th. 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $61.67.

Corteva Trading Down 0.4 %

Shares of CTVA stock opened at $55.15 on Thursday. Corteva, Inc. has a 12-month low of $43.22 and a 12-month high of $58.76. The company has a market capitalization of $38.18 billion, a PE ratio of 69.81, a price-to-earnings-growth ratio of 1.59 and a beta of 0.77. The firm has a 50 day moving average price of $53.97 and a two-hundred day moving average price of $54.63. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.10.

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

Corteva Increases Dividend

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

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.