Boston Partners Sells 7,486 Shares of Corteva, Inc. (NYSE:CTVA)

Boston Partners cut its position in shares of Corteva, Inc. (NYSE:CTVA) by 0.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 929,190 shares of the company’s stock after selling 7,486 shares during the quarter. Boston Partners owned 0.14% of Corteva worth $58,458,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of CTVA. Capital World Investors grew its holdings in shares of Corteva by 2,874.6% during the fourth quarter. Capital World Investors now owns 12,812,151 shares of the company’s stock worth $729,780,000 after buying an additional 12,381,436 shares in the last quarter. Nuveen LLC bought a new position in shares of Corteva during the first quarter worth about $640,333,000. JPMorgan Chase & Co. boosted its position in Corteva by 54.6% during the first quarter. JPMorgan Chase & Co. now owns 5,009,038 shares of the company’s stock valued at $315,219,000 after purchasing an additional 1,769,355 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Corteva by 97.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,961,440 shares of the company’s stock valued at $111,726,000 after purchasing an additional 967,118 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in Corteva by 7,135.6% during the first quarter. GAMMA Investing LLC now owns 947,789 shares of the company’s stock valued at $59,644,000 after purchasing an additional 934,690 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CTVA shares. Wells Fargo & Company reissued an “overweight” rating and set a $83.00 price target (up from $82.00) on shares of Corteva in a research report on Friday, August 8th. UBS Group increased their price target on Corteva from $90.00 to $91.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Morgan Stanley increased their price target on Corteva from $65.00 to $71.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. Jefferies Financial Group reissued a “buy” rating on shares of Corteva in a research report on Friday, June 6th. Finally, Oppenheimer set a $87.00 price target on Corteva and gave the company an “outperform” rating in a research report on Tuesday, July 15th. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Corteva currently has an average rating of “Moderate Buy” and an average price target of $80.25.

Corteva Stock Performance

Shares of NYSE CTVA opened at $71.87 on Friday. The company has a current ratio of 1.68, a quick ratio of 1.23 and a debt-to-equity ratio of 0.06. Corteva, Inc. has a 12 month low of $52.39 and a 12 month high of $77.41. The stock has a 50 day moving average of $73.35 and a 200-day moving average of $66.74. The company has a market capitalization of $48.81 billion, a P/E ratio of 35.06, a P/E/G ratio of 1.66 and a beta of 0.75.

Corteva (NYSE:CTVA) last released its quarterly earnings results on Wednesday, August 6th. The company reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.31. The business had revenue of $6.46 billion during the quarter, compared to the consensus estimate of $6.26 billion. Corteva had a return on equity of 8.68% and a net margin of 8.16%. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.83 EPS. As a group, equities research analysts predict that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be paid a $0.18 dividend. This is a boost from Corteva’s previous quarterly dividend of $0.17. The ex-dividend date is Tuesday, September 2nd. This represents a $0.72 annualized dividend and a yield of 1.0%. Corteva’s dividend payout ratio is presently 33.17%.

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.