Nuveen Asset Management LLC Has $605.78 Million Stake in Corteva, Inc. (NYSE:CTVA)

Nuveen Asset Management LLC reduced its stake in Corteva, Inc. (NYSE:CTVA) by 24.6% during the fourth quarter, HoldingsChannel reports. The firm owned 10,635,105 shares of the company’s stock after selling 3,466,156 shares during the quarter. Nuveen Asset Management LLC’s holdings in Corteva were worth $605,776,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Flagship Wealth Advisors LLC acquired a new position in Corteva in the 4th quarter worth about $25,000. Noble Wealth Management PBC bought a new stake in Corteva during the 4th quarter worth approximately $26,000. Hager Investment Management Services LLC acquired a new stake in Corteva in the fourth quarter valued at $27,000. LGT Financial Advisors LLC acquired a new position in Corteva during the 4th quarter worth about $31,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Corteva in the fourth quarter valued at about $32,000. 81.54% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Corteva news, insider Brian Titus sold 26,560 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $63.74, for a total value of $1,692,934.40. Following the completion of the transaction, the insider now owns 11,347 shares in the company, valued at $723,257.78. This trade represents a 70.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.14% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Wells Fargo & Company upped their target price on Corteva from $73.00 to $79.00 and gave the company an “overweight” rating in a report on Monday. UBS Group boosted their price target on shares of Corteva from $74.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. Barclays increased their price objective on shares of Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. Bank of America lifted their price objective on Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Finally, Citigroup increased their price target on Corteva from $75.00 to $78.00 and gave the stock a “buy” rating in a report on Friday, May 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $70.07.

Corteva Stock Performance

NYSE:CTVA opened at $67.90 on Wednesday. The company has a market capitalization of $46.38 billion, a P/E ratio of 52.64, a P/E/G ratio of 1.68 and a beta of 0.72. The business has a fifty day simple moving average of $61.14 and a two-hundred day simple moving average of $60.84. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. Corteva, Inc. has a 1 year low of $50.01 and a 1 year high of $69.28.

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

Corteva Announces Dividend

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

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.