Great Lakes Advisors LLC acquired a new position in shares of Corteva, Inc. (NYSE:CTVA – Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 61,037 shares of the company’s stock, valued at approximately $5,169,000.
A number of other institutional investors and hedge funds have also modified their holdings of the company. Arbejdsmarkedets Tillaegspension acquired a new stake in Corteva in the 4th quarter valued at $23,679,000. Leonteq Securities AG acquired a new position in Corteva during the fourth quarter worth $2,350,000. Brandes Investment Partners LP raised its stake in Corteva by 1.1% during the fourth quarter. Brandes Investment Partners LP now owns 2,312,515 shares of the company’s stock worth $155,009,000 after acquiring an additional 24,985 shares in the last quarter. Twin Capital Management Inc. lifted its holdings in shares of Corteva by 178.9% during the fourth quarter. Twin Capital Management Inc. now owns 25,394 shares of the company’s stock valued at $1,702,000 after acquiring an additional 16,288 shares during the period. Finally, Renaissance Technologies LLC bought a new position in shares of Corteva during the first quarter valued at $1,222,000. 81.54% of the stock is currently owned by institutional investors.
Corteva Stock Up 0.8%
Shares of NYSE:CTVA opened at $78.51 on Thursday. Corteva, Inc. has a 12 month low of $60.53 and a 12 month high of $90.97. The company’s 50-day moving average price is $81.92 and its two-hundred day moving average price is $80.15. The company has a quick ratio of 1.10, a current ratio of 1.52 and a debt-to-equity ratio of 0.07. The firm has a market cap of $52.38 billion, a P/E ratio of 51.99, a P/E/G ratio of 2.39 and a beta of 0.57.
Corteva Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.9%. Corteva’s dividend payout ratio (DPR) is currently 47.68%.
Wall Street Analyst Weigh In
CTVA has been the topic of several analyst reports. Mizuho upped their target price on shares of Corteva from $96.00 to $97.00 and gave the stock an “outperform” rating in a report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $101.00 price target on shares of Corteva in a report on Monday, August 3rd. BNP Paribas Exane upped their price objective on shares of Corteva from $74.00 to $77.00 in a research note on Wednesday, May 6th. Jefferies Financial Group raised their price objective on shares of Corteva from $95.00 to $97.00 in a report on Thursday, May 7th. Finally, Citigroup lifted their target price on shares of Corteva from $85.00 to $86.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. Fourteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $91.50.
Get Our Latest Report on Corteva
About Corteva
Corteva, Inc (NYSE: CTVA) is an independent global agriculture company that was established as a publicly traded firm in mid‑2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva’s operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.
Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.
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