Nordea Investment Management AB Raises Holdings in Corteva, Inc. $CTVA

Nordea Investment Management AB grew its position in Corteva, Inc. (NYSE:CTVA) by 1.9% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 59,414 shares of the company’s stock after purchasing an additional 1,124 shares during the quarter. Nordea Investment Management AB’s holdings in Corteva were worth $4,416,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in CTVA. Nuveen LLC purchased a new stake in shares of Corteva in the 1st quarter worth $640,333,000. WCM Investment Management LLC lifted its holdings in shares of Corteva by 29.6% in the 2nd quarter. WCM Investment Management LLC now owns 9,044,706 shares of the company’s stock worth $672,836,000 after buying an additional 2,066,519 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Corteva by 4,769.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,924,419 shares of the company’s stock worth $143,427,000 after buying an additional 1,884,897 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Corteva by 54.6% in the 1st quarter. JPMorgan Chase & Co. now owns 5,009,038 shares of the company’s stock worth $315,219,000 after buying an additional 1,769,355 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Corteva by 65.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,251,449 shares of the company’s stock worth $204,615,000 after buying an additional 1,290,009 shares during the period. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Corteva Trading Down 0.1%

Corteva stock opened at $61.93 on Wednesday. The stock has a 50-day moving average of $69.04 and a two-hundred day moving average of $68.97. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.23 and a current ratio of 1.68. Corteva, Inc. has a one year low of $53.40 and a one year high of $77.41. The stock has a market cap of $42.05 billion, a PE ratio of 30.21, a price-to-earnings-growth ratio of 1.42 and a beta of 0.76.

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

Corteva Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.2%. This is a boost from Corteva’s previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, September 2nd. Corteva’s dividend payout ratio (DPR) is 35.12%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CTVA shares. Zacks Research upgraded Corteva from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 1st. BMO Capital Markets set a $86.00 price objective on Corteva in a research note on Monday, September 15th. Argus decreased their price objective on Corteva from $83.00 to $80.00 and set a “buy” rating for the company in a research note on Monday, October 13th. Wells Fargo & Company decreased their price objective on Corteva from $83.00 to $80.00 and set an “overweight” rating for the company in a research note on Thursday, October 16th. Finally, Weiss Ratings cut Corteva from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $80.31.

Insider Buying and Selling

In other Corteva news, EVP Robert D. King sold 37,280 shares of the stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $74.20, for a total value of $2,766,176.00. Following the completion of the sale, the executive vice president directly owned 49,262 shares in the company, valued at approximately $3,655,240.40. This trade represents a 43.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.15% of the company’s stock.

Corteva 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.