National Pension Service Has $88.59 Million Position in Corteva, Inc. (NYSE:CTVA)

National Pension Service lifted its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 3.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,848,642 shares of the company’s stock after buying an additional 65,085 shares during the period. National Pension Service owned about 0.26% of Corteva worth $88,587,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Harris Associates L P acquired a new position in shares of Corteva during the 3rd quarter worth approximately $246,423,000. Van ECK Associates Corp grew its position in Corteva by 78.7% during the third quarter. Van ECK Associates Corp now owns 7,645,091 shares of the company’s stock worth $391,123,000 after buying an additional 3,366,106 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Corteva by 29.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,095,076 shares of the company’s stock worth $567,624,000 after acquiring an additional 2,545,570 shares during the period. Vanguard Group Inc. raised its holdings in Corteva by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 81,346,924 shares of the company’s stock valued at $4,161,709,000 after acquiring an additional 1,941,323 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Corteva by 662.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,535,708 shares of the company’s stock valued at $73,591,000 after acquiring an additional 1,334,415 shares during the period. 81.54% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on CTVA. Royal Bank of Canada boosted their price target on Corteva from $62.00 to $64.00 and gave the company an “outperform” rating in a research note on Monday. Mizuho boosted their price objective on shares of Corteva from $56.00 to $61.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. TheStreet upgraded Corteva from a “c+” rating to a “b-” rating in a research note on Tuesday, February 27th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Corteva from $62.00 to $65.00 and gave the company a “buy” rating in a report on Monday. Finally, KeyCorp raised their target price on shares of Corteva from $63.00 to $66.00 and gave the company an “overweight” rating in a research report on Tuesday, April 9th. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $63.24.

Corteva Trading Up 1.3 %

Shares of CTVA stock traded up $0.72 during mid-day trading on Thursday, hitting $57.54. The company’s stock had a trading volume of 1,613,262 shares, compared to its average volume of 3,548,517. Corteva, Inc. has a 52 week low of $43.22 and a 52 week high of $58.81. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 1.51. The company’s fifty day simple moving average is $55.45 and its 200-day simple moving average is $50.74. The company has a market cap of $40.10 billion, a PE ratio of 73.08, a P/E/G ratio of 1.50 and a beta of 0.78.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.10. Corteva had a return on equity of 6.68% and a net margin of 3.32%. The firm had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.65 billion. During the same period in the previous year, the firm earned $1.16 earnings per share. The company’s revenue was down 8.0% compared to the same quarter last year. As a group, equities research analysts expect that Corteva, Inc. will post 2.83 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date is Tuesday, June 4th. Corteva’s payout ratio is 81.01%.

Insiders Place Their Bets

In other news, insider Brian Titus sold 12,134 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $56.65, for a total transaction of $687,391.10. Following the completion of the sale, the insider now owns 13,495 shares in the company, valued at $764,491.75. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.14% of the company’s stock.

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.