APG Asset Management N.V. Has $4.27 Million Position in Corteva, Inc. (NYSE:CTVA)

APG Asset Management N.V. lifted its position in shares of Corteva, Inc. (NYSE:CTVA) by 195.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 84,800 shares of the company’s stock after purchasing an additional 56,100 shares during the quarter. APG Asset Management N.V.’s holdings in Corteva were worth $4,268,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CTVA. Redmont Wealth Advisors LLC bought a new stake in Corteva during the 1st quarter worth approximately $25,000. Acadian Asset Management LLC bought a new stake in Corteva in the 1st quarter valued at $25,000. Rise Advisors LLC boosted its stake in Corteva by 2,522.2% in the 1st quarter. Rise Advisors LLC now owns 472 shares of the company’s stock worth $27,000 after purchasing an additional 454 shares during the period. Albion Financial Group UT increased its holdings in Corteva by 77.2% during the 1st quarter. Albion Financial Group UT now owns 505 shares of the company’s stock worth $29,000 after purchasing an additional 220 shares in the last quarter. Finally, Ironwood Wealth Management Inc. raised its stake in shares of Corteva by 106.1% in the 1st quarter. Ironwood Wealth Management Inc. now owns 544 shares of the company’s stock valued at $31,000 after purchasing an additional 280 shares during the period. 81.54% of the stock is owned by institutional investors.

Corteva Price Performance

Corteva stock opened at $58.58 on Monday. The company has a market capitalization of $40.83 billion, a price-to-earnings ratio of 74.15, a PEG ratio of 1.68 and a beta of 0.77. The stock’s 50 day moving average is $55.02 and its 200-day moving average is $54.88. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.10. Corteva, Inc. has a 12 month low of $43.22 and a 12 month high of $59.08.

Corteva (NYSE:CTVA) last posted 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 firm had revenue of $6.11 billion for the quarter, compared to analysts’ expectations of $6.15 billion. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.60 EPS. Equities research analysts expect that Corteva, Inc. will post 2.69 EPS for the current year.

Corteva Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend was Tuesday, September 3rd. This is a positive change from Corteva’s previous quarterly dividend of $0.16. Corteva’s dividend payout ratio is presently 86.08%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CTVA shares. Mizuho decreased their price objective on Corteva from $61.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday, June 18th. KeyCorp reduced their target price on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. OTR Global reiterated a “negative” rating on shares of Corteva in a research note on Friday, June 7th. Morgan Stanley restated an “overweight” rating and set a $65.00 price objective on shares of Corteva in a research note on Tuesday, September 24th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $65.00 target price on shares of Corteva in a report on Wednesday, June 12th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $61.94.

Corteva Company 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.