Nomura Asset Management Co. Ltd. Has $24.56 Million Position in Corteva, Inc. $CTVA

Nomura Asset Management Co. Ltd. lessened its stake in Corteva, Inc. (NYSE:CTVA) by 10.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 329,531 shares of the company’s stock after selling 39,884 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Corteva were worth $24,560,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in CTVA. PAX Financial Group LLC boosted its holdings in Corteva by 5.9% in the second quarter. PAX Financial Group LLC now owns 3,646 shares of the company’s stock valued at $272,000 after acquiring an additional 202 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in shares of Corteva by 5.2% in the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 516,823 shares of the company’s stock worth $38,519,000 after purchasing an additional 25,573 shares during the period. Rockefeller Capital Management L.P. lifted its position in shares of Corteva by 34.0% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 62,648 shares of the company’s stock worth $4,669,000 after purchasing an additional 15,891 shares during the period. Kingsview Wealth Management LLC boosted its stake in shares of Corteva by 34.2% in the 2nd quarter. Kingsview Wealth Management LLC now owns 13,989 shares of the company’s stock valued at $1,043,000 after purchasing an additional 3,566 shares during the last quarter. Finally, Citizens Financial Group Inc. RI increased its position in shares of Corteva by 3.5% during the second quarter. Citizens Financial Group Inc. RI now owns 18,254 shares of the company’s stock worth $1,360,000 after buying an additional 611 shares during the period. 81.54% of the stock is currently owned by institutional investors.

Corteva Stock Performance

Shares of CTVA opened at $64.55 on Wednesday. The stock has a 50-day moving average of $65.36 and a 200-day moving average of $69.68. Corteva, Inc. has a one year low of $53.40 and a one year high of $77.41. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.58 and a quick ratio of 1.07. The company has a market cap of $43.62 billion, a PE ratio of 27.58, a P/E/G ratio of 1.46 and a beta of 0.81.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Tuesday, November 4th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.26. The business had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.47 billion. Corteva had a return on equity of 9.37% and a net margin of 9.19%.The company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.49) earnings per share. On average, equities research analysts predict that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Monday, December 1st. Corteva’s payout ratio is 30.77%.

Insiders Place Their Bets

In other Corteva news, EVP Robert D. King sold 37,280 shares of the firm’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $74.20, for a total value of $2,766,176.00. Following the transaction, the executive vice president directly owned 49,262 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CTVA shares. KeyCorp restated a “sector weight” rating on shares of Corteva in a report on Friday, October 3rd. Wall Street Zen raised Corteva from a “hold” rating to a “buy” rating in a research report on Sunday. Wolfe Research boosted their price objective on Corteva from $79.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, November 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Corteva in a research note on Thursday, November 13th. Finally, BMO Capital Markets set a $86.00 target price on Corteva in a report on Monday, September 15th. Fifteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Corteva has a consensus rating of “Moderate Buy” and a consensus price target of $78.39.

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.