Corteva, Inc. (NYSE:CTVA) Shares Bought by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp grew its stake in shares of Corteva, Inc. (NYSE:CTVA) by 20.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,315 shares of the company’s stock after acquiring an additional 4,884 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Corteva were worth $1,670,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in CTVA. Flagship Wealth Advisors LLC acquired a new position in shares of Corteva in the 4th quarter valued at about $25,000. Noble Wealth Management PBC acquired a new position in shares of Corteva in the 4th quarter valued at about $26,000. Hager Investment Management Services LLC bought a new stake in Corteva in the 4th quarter valued at about $27,000. LGT Financial Advisors LLC bought a new stake in Corteva in the 4th quarter valued at about $31,000. Finally, Golden State Wealth Management LLC bought a new stake in Corteva in the 4th quarter valued at about $32,000. 81.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CTVA shares. Oppenheimer reiterated an “outperform” rating and issued a $75.00 price objective (up from $72.00) on shares of Corteva in a research report on Friday, May 9th. UBS Group lifted their price objective on shares of Corteva from $74.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. The Goldman Sachs Group started coverage on shares of Corteva in a research report on Thursday, March 13th. They issued a “buy” rating and a $71.00 price objective on the stock. KeyCorp lifted their price objective on shares of Corteva from $71.00 to $72.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. Finally, Royal Bank of Canada lifted their price objective on shares of Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $70.50.

Corteva Stock Up 1.0%

CTVA stock opened at $68.29 on Friday. Corteva, Inc. has a 52 week low of $50.01 and a 52 week high of $69.28. The company has a market capitalization of $46.64 billion, a price-to-earnings ratio of 52.94, a price-to-earnings-growth ratio of 1.68 and a beta of 0.72. The firm’s 50-day moving average is $61.44 and its two-hundred day moving average is $60.93. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08.

Corteva (NYSE:CTVA) last released its earnings results on Wednesday, May 7th. The company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.25. Corteva had a net margin of 5.36% and a return on equity of 7.19%. The business had revenue of $4.42 billion for the quarter, compared to the consensus estimate of $4.56 billion. During the same period in the previous year, the firm earned $0.89 EPS. The business’s revenue for the quarter was down 1.7% on a year-over-year basis. On average, analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 2nd will be issued a $0.17 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.00%. Corteva’s payout ratio is currently 41.46%.

Insider Buying and Selling

In related news, insider Brian Titus sold 26,560 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $63.74, for a total value of $1,692,934.40. Following the sale, the insider now directly owns 11,347 shares in the company, valued at $723,257.78. The trade was a 70.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.14% of the company’s stock.

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.