Assenagon Asset Management S.A. Has $186.06 Million Stake in Corteva, Inc. $CTVA

Assenagon Asset Management S.A. raised its stake in shares of Corteva, Inc. (NYSE:CTVA) by 43.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,751,157 shares of the company’s stock after acquiring an additional 826,738 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Corteva were worth $186,061,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Brighton Jones LLC raised its stake 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 in the last quarter. American Century Companies Inc. grew its holdings in Corteva by 2.0% during the first quarter. American Century Companies Inc. now owns 134,165 shares of the company’s stock valued at $8,443,000 after purchasing an additional 2,627 shares during the last quarter. Northwest & Ethical Investments L.P. grew its holdings in Corteva by 42.0% during the first quarter. Northwest & Ethical Investments L.P. now owns 22,651 shares of the company’s stock valued at $1,425,000 after purchasing an additional 6,697 shares during the last quarter. Brooklyn Investment Group raised its position in shares of Corteva by 29.0% in the first quarter. Brooklyn Investment Group now owns 3,540 shares of the company’s stock valued at $223,000 after purchasing an additional 796 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Corteva by 1.0% in the first quarter. Northern Trust Corp now owns 11,759,755 shares of the company’s stock worth $740,041,000 after buying an additional 110,865 shares during the last quarter. Institutional investors own 81.54% of the company’s stock.

Corteva Price Performance

Shares of CTVA stock opened at $65.48 on Wednesday. Corteva, Inc. has a 12 month low of $53.40 and a 12 month high of $77.41. The company has a market capitalization of $44.25 billion, a P/E ratio of 27.98, a P/E/G ratio of 1.49 and a beta of 0.74. The stock has a 50 day moving average of $64.30 and a two-hundred day moving average of $69.40. The company has a current ratio of 1.58, a quick ratio of 1.07 and a debt-to-equity ratio of 0.07.

Corteva (NYSE:CTVA) last issued its earnings results on Tuesday, November 4th. The company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.26. The business had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.47 billion. Corteva had a return on equity of 9.37% and a net margin of 9.19%.Corteva’s revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.49) earnings per share. As a group, equities analysts expect that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Monday, December 1st. Corteva’s dividend payout ratio (DPR) is presently 30.77%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CTVA. Mizuho lowered their target price on shares of Corteva from $85.00 to $78.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 8th. UBS Group lowered their price target on Corteva from $85.00 to $81.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. Royal Bank Of Canada dropped their price objective on Corteva from $86.00 to $80.00 and set an “outperform” rating on the stock in a research note on Friday, October 17th. Wall Street Zen downgraded Corteva from a “buy” rating to a “hold” rating in a research note on Wednesday, December 10th. Finally, Rothschild & Co Redburn lowered their target price on Corteva from $71.00 to $65.00 and set a “neutral” rating on the stock in a report on Tuesday, November 11th. Fifteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $78.11.

Corteva 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.