Mirae Asset Global Investments Co. Ltd. Grows Holdings in Corteva, Inc. (NYSE:CTVA)

Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Corteva, Inc. (NYSE:CTVA) by 20.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,441 shares of the company’s stock after acquiring an additional 6,919 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Corteva were worth $2,369,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of CTVA. Acadian Asset Management LLC purchased a new stake in Corteva in the 1st quarter worth $25,000. Cultivar Capital Inc. purchased a new stake in shares of Corteva during the second quarter worth about $34,000. Redwood Wealth Management Group LLC acquired a new position in shares of Corteva during the 2nd quarter worth about $43,000. Triad Wealth Partners LLC purchased a new position in Corteva in the 2nd quarter valued at about $45,000. Finally, Bangor Savings Bank boosted its holdings in Corteva by 34.7% in the 3rd quarter. Bangor Savings Bank now owns 935 shares of the company’s stock worth $55,000 after buying an additional 241 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Trading Up 1.3 %

NYSE CTVA opened at $61.57 on Thursday. 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 stock has a market capitalization of $42.91 billion, a P/E ratio of 77.94, a PEG ratio of 1.66 and a beta of 0.77. The firm’s 50-day moving average is $57.56 and its two-hundred day moving average is $55.29. Corteva, Inc. has a 12 month low of $43.22 and a 12 month high of $62.38.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $1.83 EPS 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 analyst estimates of $6.15 billion. Corteva had a net margin of 5.31% and a return on equity of 7.30%. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.60 EPS. On average, sell-side analysts anticipate that Corteva, Inc. will post 2.66 earnings per share for the current year.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.17 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.10%. Corteva’s payout ratio is presently 86.08%.

Analyst Ratings Changes

CTVA has been the subject of a number of research analyst reports. Morgan Stanley reissued an “overweight” rating and set a $65.00 target price on shares of Corteva in a report on Tuesday, September 24th. Bank of America upgraded Corteva from a “neutral” rating to a “buy” rating and raised their price objective for the company from $59.00 to $67.00 in a report on Wednesday, October 16th. JPMorgan Chase & Co. dropped their target price on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Wells Fargo & Company decreased their price target on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Finally, Citigroup assumed coverage on shares of Corteva in a report on Wednesday, October 23rd. They issued a “buy” rating and a $68.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.84.

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.