MAI Capital Management Acquires 17,398 Shares of Corteva, Inc. $CTVA

MAI Capital Management grew its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 116.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,384 shares of the company’s stock after acquiring an additional 17,398 shares during the period. MAI Capital Management’s holdings in Corteva were worth $2,190,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of CTVA. Norges Bank bought a new stake in Corteva during the second quarter valued at about $434,220,000. Pacer Advisors Inc. grew its stake in shares of Corteva by 4,007.1% during the 3rd quarter. Pacer Advisors Inc. now owns 2,442,177 shares of the company’s stock valued at $165,164,000 after acquiring an additional 2,382,715 shares during the period. Marshall Wace LLP grew its stake in shares of Corteva by 1,365.9% during the 2nd quarter. Marshall Wace LLP now owns 1,809,764 shares of the company’s stock valued at $134,882,000 after acquiring an additional 1,686,309 shares during the period. National Pension Service increased its holdings in Corteva by 148.4% in the 2nd quarter. National Pension Service now owns 2,454,601 shares of the company’s stock worth $182,941,000 after acquiring an additional 1,466,268 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its stake in Corteva by 566.0% during the 2nd quarter. Qube Research & Technologies Ltd now owns 1,247,120 shares of the company’s stock worth $92,948,000 after acquiring an additional 1,059,872 shares during the period. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Corteva Stock Up 1.5%

Shares of CTVA stock opened at $80.01 on Friday. The company’s fifty day simple moving average is $71.91 and its two-hundred day simple moving average is $68.83. Corteva, Inc. has a 52 week low of $53.40 and a 52 week high of $80.23. The stock has a market cap of $53.81 billion, a P/E ratio of 50.64, a PEG ratio of 2.69 and a beta of 0.75. The company has a quick ratio of 0.96, a current ratio of 1.43 and a debt-to-equity ratio of 0.07.

Corteva (NYSE:CTVA) last posted its earnings results on Tuesday, February 3rd. The company reported $0.22 EPS for the quarter, hitting analysts’ consensus estimates of $0.22. Corteva had a return on equity of 9.06% and a net margin of 6.29%.The company had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $4.23 billion. During the same period in the previous year, the business earned $0.32 earnings per share. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. Analysts predict that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, March 2nd. Corteva’s dividend payout ratio (DPR) is presently 45.57%.

Insider Buying and Selling at Corteva

In other news, insider Brian Titus sold 8,311 shares of the business’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $76.55, for a total value of $636,207.05. Following the sale, the insider directly owned 8,090 shares in the company, valued at $619,289.50. The trade was a 50.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.14% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group reiterated a “buy” rating and issued a $88.00 price target on shares of Corteva in a research report on Thursday, February 5th. Bank of America upped their target price on shares of Corteva from $80.00 to $82.00 and gave the stock a “buy” rating in a report on Thursday, January 8th. Mizuho raised their price target on Corteva from $80.00 to $82.00 and gave the company an “outperform” rating in a report on Tuesday, February 17th. CICC Research boosted their price objective on Corteva from $70.00 to $80.00 and gave the company an “outperform” rating in a research report on Wednesday, February 11th. Finally, Oppenheimer set a $86.00 target price on Corteva in a research report on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $82.30.

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.