PNC Financial Services Group Inc. Grows Stake in Corteva, Inc. $CTVA

PNC Financial Services Group Inc. boosted its position in shares of Corteva, Inc. (NYSE:CTVA) by 1.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 673,135 shares of the company’s stock after purchasing an additional 10,165 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Corteva were worth $45,120,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC increased its holdings in shares of Corteva by 307.2% in the 4th quarter. Brighton Jones LLC now owns 15,588 shares of the company’s stock valued at $888,000 after acquiring an additional 11,760 shares during the period. Woodline Partners LP increased its holdings in shares of Corteva by 40.3% in the 1st quarter. Woodline Partners LP now owns 57,919 shares of the company’s stock valued at $3,645,000 after acquiring an additional 16,644 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Corteva by 62.1% in the second quarter. EverSource Wealth Advisors LLC now owns 2,559 shares of the company’s stock worth $191,000 after purchasing an additional 980 shares in the last quarter. Cresset Asset Management LLC lifted its position in shares of Corteva by 2.6% during the second quarter. Cresset Asset Management LLC now owns 7,063 shares of the company’s stock valued at $526,000 after buying an additional 181 shares during the last quarter. Finally, Jump Financial LLC purchased a new stake in shares of Corteva during the second quarter valued at about $1,464,000. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Corteva Stock Up 0.5%

Shares of CTVA stock opened at $79.16 on Friday. Corteva, Inc. has a 1-year low of $60.53 and a 1-year high of $85.63. The stock’s fifty day moving average price is $81.31 and its 200 day moving average price is $73.92. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.47 and a quick ratio of 1.03. The company has a market cap of $52.95 billion, a price-to-earnings ratio of 46.57, a price-to-earnings-growth ratio of 2.41 and a beta of 0.59.

Corteva (NYSE:CTVA) last announced its earnings results on Tuesday, May 5th. The company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.32. Corteva had a return on equity of 9.95% and a net margin of 6.50%.The firm had revenue of $4.91 billion for the quarter, compared to the consensus estimate of $4.64 billion. During the same period in the previous year, the business earned $1.13 EPS. The firm’s revenue for the quarter was up 11.0% on a year-over-year basis. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. On average, research analysts expect that Corteva, Inc. will post 3.72 earnings per share for the current fiscal year.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 0.9%. The ex-dividend date is Monday, June 1st. Corteva’s payout ratio is 42.35%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. UBS Group increased their price target on shares of Corteva from $88.00 to $90.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. JPMorgan Chase & Co. lowered shares of Corteva from an “overweight” rating to a “neutral” rating and increased their price target for the company from $75.00 to $77.00 in a research report on Thursday, February 5th. Jefferies Financial Group increased their price target on shares of Corteva from $95.00 to $97.00 in a research report on Thursday, May 7th. BNP Paribas Exane increased their price target on shares of Corteva from $74.00 to $77.00 in a research report on Wednesday, May 6th. Finally, The Goldman Sachs Group boosted their target price on Corteva from $88.00 to $96.00 and gave the stock a “buy” rating in a research note on Tuesday, April 14th. Thirteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $88.14.

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.