Assenagon Asset Management S.A. Increases Stock Position in Corteva, Inc. (NYSE:CTVA)

Assenagon Asset Management S.A. grew its holdings in Corteva, Inc. (NYSE:CTVAFree Report) by 288.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,588 shares of the company’s stock after buying an additional 47,953 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Corteva were worth $3,797,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Anomaly Capital Management LP acquired a new stake in Corteva in the second quarter valued at $188,578,000. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Corteva by 392.3% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 4,083,685 shares of the company’s stock valued at $220,274,000 after purchasing an additional 3,254,126 shares during the period. Bank of New York Mellon Corp boosted its holdings in Corteva by 28.4% during the second quarter. Bank of New York Mellon Corp now owns 6,842,907 shares of the company’s stock worth $369,106,000 after buying an additional 1,514,954 shares in the last quarter. Panagora Asset Management Inc. grew its position in Corteva by 700.2% during the second quarter. Panagora Asset Management Inc. now owns 1,301,996 shares of the company’s stock worth $70,230,000 after buying an additional 1,139,297 shares during the period. Finally, Natixis Advisors LLC grew its position in Corteva by 155.7% during the second quarter. Natixis Advisors LLC now owns 1,694,214 shares of the company’s stock worth $91,389,000 after buying an additional 1,031,678 shares during the period. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Corteva Trading Up 1.3 %

CTVA stock opened at $61.57 on Thursday. Corteva, Inc. has a 52 week low of $43.22 and a 52 week high of $62.38. The company has a market cap of $42.91 billion, a price-to-earnings ratio of 77.94, a PEG ratio of 1.66 and a beta of 0.77. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.10. The business has a fifty day simple moving average of $57.56 and a 200-day simple moving average of $55.29.

Corteva (NYSE:CTVAGet Free Report) last released its quarterly earnings data on Wednesday, July 31st. The company reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.09. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The company had revenue of $6.11 billion for the quarter, compared to the consensus estimate of $6.15 billion. During the same period last year, the business posted $1.60 EPS. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. On average, equities research analysts expect that Corteva, Inc. will post 2.66 EPS for the current year.

Corteva Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.17 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.68 annualized dividend and a yield of 1.10%. Corteva’s payout ratio is 86.08%.

Wall Street Analyst Weigh In

CTVA has been the subject of several research reports. Citigroup assumed coverage on Corteva in a report on Wednesday, October 23rd. They set a “buy” rating and a $68.00 price objective for the company. KeyCorp cut their price objective on Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. JPMorgan Chase & Co. lowered their target price on Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Argus cut Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $65.00 price objective on shares of Corteva in a research note on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $62.84.

Read Our Latest Report on CTVA

About Corteva

(Free Report)

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.

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Institutional Ownership by Quarter for Corteva (NYSE:CTVA)

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