Public Employees Retirement System of Ohio acquired a new position in shares of Corteva, Inc. (NYSE:CTVA – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 231,928 shares of the company’s stock, valued at approximately $19,642,000.
Other large investors also recently added to or reduced their stakes in the company. EFG International AG purchased a new stake in shares of Corteva in the second quarter valued at about $25,000. Compass Financial Management LLC acquired a new position in Corteva in the 2nd quarter valued at about $25,000. Elevation Wealth Partners LLC grew its stake in shares of Corteva by 334.6% in the 2nd quarter. Elevation Wealth Partners LLC now owns 339 shares of the company’s stock valued at $29,000 after buying an additional 261 shares during the period. Clearstead Trust LLC acquired a new stake in shares of Corteva during the 2nd quarter worth approximately $31,000. Finally, JPL Wealth Management LLC purchased a new stake in shares of Corteva during the 3rd quarter valued at approximately $25,000. 81.54% of the stock is currently owned by hedge funds and other institutional investors.
Corteva Stock Up 1.9%
Shares of NYSE CTVA opened at $84.00 on Friday. 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 business’s 50 day moving average is $82.69 and its two-hundred day moving average is $80.54. Corteva, Inc. has a 52-week low of $60.53 and a 52-week high of $90.97. The firm has a market cap of $56.04 billion, a price-to-earnings ratio of 55.63, a PEG ratio of 2.58 and a beta of 0.57.
Corteva Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 1st. Corteva’s payout ratio is currently 47.68%.
Analyst Upgrades and Downgrades
A number of research firms recently commented on CTVA. BMO Capital Markets upped their price objective on Corteva from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Morgan Stanley lifted their target price on Corteva from $84.00 to $95.00 and gave the company an “overweight” rating in a research report on Thursday, May 28th. Jefferies Financial Group upped their price target on Corteva from $95.00 to $97.00 in a research note on Thursday, May 7th. Bank of America increased their price target on Corteva from $90.00 to $96.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Finally, BNP Paribas Exane boosted their price objective on shares of Corteva from $74.00 to $77.00 in a report on Wednesday, May 6th. Fourteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Corteva presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.50.
Read 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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