Corteva, Inc. (NYSE:CTVA) Shares Acquired by Swedbank AB

Swedbank AB lifted its holdings in Corteva, Inc. (NYSE:CTVA) by 18.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 457,877 shares of the company’s stock after acquiring an additional 69,782 shares during the quarter. Swedbank AB’s holdings in Corteva were worth $26,919,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Redmont Wealth Advisors LLC purchased a new position in Corteva during the first quarter valued at $25,000. Acadian Asset Management LLC acquired a new stake in Corteva during the first quarter worth about $25,000. Rise Advisors LLC increased its position in Corteva by 2,522.2% during the first quarter. Rise Advisors LLC now owns 472 shares of the company’s stock worth $27,000 after purchasing an additional 454 shares during the last quarter. Albion Financial Group UT increased its position in Corteva by 77.2% during the first quarter. Albion Financial Group UT now owns 505 shares of the company’s stock worth $29,000 after purchasing an additional 220 shares during the last quarter. Finally, Ironwood Wealth Management Inc. increased its position in Corteva by 106.1% during the first quarter. Ironwood Wealth Management Inc. now owns 544 shares of the company’s stock worth $31,000 after purchasing an additional 280 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CTVA shares. Wells Fargo & Company cut their price objective 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. KeyCorp dropped 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. Bank of America upgraded shares of Corteva from a “neutral” rating to a “buy” rating and lifted their price target for the company from $59.00 to $67.00 in a research report on Wednesday. JPMorgan Chase & Co. dropped their price target 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, Argus cut shares of Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $62.21.

Corteva Stock Up 2.9 %

Shares of Corteva stock opened at $58.95 on Thursday. Corteva, Inc. has a 52-week low of $43.22 and a 52-week high of $59.08. The company has a 50 day moving average of $56.05 and a 200 day moving average of $55.05. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $41.09 billion, a P/E ratio of 74.62, a P/E/G ratio of 1.66 and a beta of 0.77.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $1.83 earnings per share for the quarter, topping 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 net margin of 5.31% and a return on equity of 7.30%. The company’s revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.60 EPS. As a group, research analysts forecast that Corteva, Inc. will post 2.66 EPS for the current fiscal year.

Corteva Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend was Tuesday, September 3rd. This is an increase from Corteva’s previous quarterly dividend of $0.16. Corteva’s payout ratio is currently 86.08%.

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.