Forsta AP Fonden Has $8.34 Million Position in Corteva, Inc. (NYSE:CTVA)

Forsta AP Fonden boosted its stake in Corteva, Inc. (NYSE:CTVA) by 12.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 141,900 shares of the company’s stock after buying an additional 15,300 shares during the quarter. Forsta AP Fonden’s holdings in Corteva were worth $8,342,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CTVA. Redmont Wealth Advisors LLC acquired a new stake in Corteva during the first quarter valued at $25,000. Acadian Asset Management LLC acquired a new stake in shares of Corteva during the 1st quarter valued at about $25,000. Albion Financial Group UT grew its stake in shares of Corteva by 77.2% in the 1st quarter. Albion Financial Group UT now owns 505 shares of the company’s stock valued at $29,000 after buying an additional 220 shares in the last quarter. Cultivar Capital Inc. acquired a new position in Corteva in the second quarter worth approximately $34,000. Finally, Redwood Wealth Management Group LLC bought a new position in Corteva during the second quarter valued at approximately $43,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Stock Down 0.7 %

CTVA opened at $60.35 on Monday. Corteva, Inc. has a fifty-two week low of $43.22 and a fifty-two week high of $61.21. The company has a market capitalization of $42.06 billion, a P/E ratio of 76.39, a P/E/G ratio of 1.66 and a beta of 0.77. 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 firm’s fifty day moving average price is $57.13 and its two-hundred day moving average price is $55.16.

Corteva (NYSE:CTVA) last posted its earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.09. The business had revenue of $6.11 billion for the quarter, compared to analysts’ expectations of $6.15 billion. Corteva had a net margin of 5.31% and a return on equity of 7.30%. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.60 earnings per share. On average, analysts anticipate that Corteva, Inc. will post 2.66 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Bank of America upgraded shares of Corteva from a “neutral” rating to a “buy” rating and increased their price target for the stock from $59.00 to $67.00 in a research note on Wednesday, October 16th. Morgan Stanley reissued an “overweight” rating and set a $65.00 target price on shares of Corteva in a research report on Tuesday, September 24th. Wells Fargo & Company reduced their price target on Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Argus lowered Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Finally, Citigroup assumed coverage on Corteva in a research note on Wednesday, October 23rd. They issued a “buy” rating and a $68.00 price objective on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Corteva presently has an average rating of “Moderate Buy” and a consensus target price of $62.84.

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.