Goehring & Rozencwajg Associates LLC Purchases 8,600 Shares of Corteva, Inc. (NYSE:CTVA)

Goehring & Rozencwajg Associates LLC grew its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 10.7% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 88,785 shares of the company’s stock after acquiring an additional 8,600 shares during the quarter. Goehring & Rozencwajg Associates LLC’s holdings in Corteva were worth $4,789,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in CTVA. Capital International Investors grew its holdings in Corteva by 47.2% during the 4th quarter. Capital International Investors now owns 25,758,735 shares of the company’s stock valued at $1,234,359,000 after purchasing an additional 8,260,808 shares during the last quarter. Norges Bank bought a new position in Corteva during the 4th quarter valued at about $265,298,000. Harris Associates L P grew its holdings in Corteva by 87.1% during the 4th quarter. Harris Associates L P now owns 9,011,702 shares of the company’s stock valued at $431,841,000 after purchasing an additional 4,194,981 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in Corteva by 392.3% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 4,083,685 shares of the company’s stock valued at $220,274,000 after purchasing an additional 3,254,126 shares during the last quarter. Finally, Glenview Capital Management LLC grew its holdings in Corteva by 116.6% during the 4th quarter. Glenview Capital Management LLC now owns 4,698,725 shares of the company’s stock valued at $225,163,000 after purchasing an additional 2,529,539 shares during the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Corteva Trading Up 0.7 %

NYSE:CTVA opened at $57.44 on Thursday. Corteva, Inc. has a 12 month low of $43.22 and a 12 month high of $58.76. The firm has a fifty day simple moving average of $54.47 and a 200-day simple moving average of $54.71. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $40.03 billion, a P/E ratio of 72.71, a PEG ratio of 1.60 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, topping the consensus estimate of $1.74 by $0.09. Corteva had a net margin of 5.31% and a return on equity of 7.30%. The firm had revenue of $6.11 billion during the quarter, compared to analysts’ expectations of $6.15 billion. During the same quarter last year, the company posted $1.60 earnings per share. The firm’s revenue was up 1.1% compared to the same quarter last year. On average, equities research analysts anticipate that Corteva, Inc. will post 2.69 earnings per share for the current year.

Corteva Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.18%. The ex-dividend date was Tuesday, September 3rd. This is a boost from Corteva’s previous quarterly dividend of $0.16. Corteva’s dividend payout ratio (DPR) is 86.08%.

Analyst Ratings Changes

Several equities analysts recently commented on CTVA shares. KeyCorp cut their price target on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $65.00 price target on shares of Corteva in a research report on Wednesday, June 12th. Wells Fargo & Company lowered their price target on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating for the company 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. Finally, OTR Global reissued a “negative” rating on shares of Corteva in a research report on Friday, June 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock 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.