Corteva, Inc. $CTVA Shares Purchased by Cerity Partners LLC

Cerity Partners LLC raised its position in shares of Corteva, Inc. (NYSE:CTVA) by 4.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 264,622 shares of the company’s stock after purchasing an additional 10,241 shares during the quarter. Cerity Partners LLC’s holdings in Corteva were worth $17,896,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in Corteva during the second quarter valued at about $434,220,000. Pacer Advisors Inc. raised its position in Corteva by 4,007.1% in the third quarter. Pacer Advisors Inc. now owns 2,442,177 shares of the company’s stock worth $165,164,000 after acquiring an additional 2,382,715 shares in the last quarter. WCM Investment Management LLC lifted its holdings in Corteva by 29.6% in the 2nd quarter. WCM Investment Management LLC now owns 9,044,706 shares of the company’s stock valued at $672,836,000 after acquiring an additional 2,066,519 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Corteva by 4,769.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,924,419 shares of the company’s stock valued at $143,427,000 after purchasing an additional 1,884,897 shares in the last quarter. Finally, Marshall Wace LLP grew its stake in shares of Corteva by 1,365.9% in the 2nd quarter. Marshall Wace LLP now owns 1,809,764 shares of the company’s stock worth $134,882,000 after purchasing an additional 1,686,309 shares during the last quarter. Institutional investors own 81.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CTVA shares. Oppenheimer reissued an “outperform” rating and set a $76.00 target price on shares of Corteva in a research note on Friday, November 7th. Wall Street Zen cut Corteva from a “buy” rating to a “hold” rating in a report on Saturday, January 3rd. Wolfe Research raised their price objective on Corteva from $79.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Deutsche Bank Aktiengesellschaft cut their target price on Corteva from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Thursday, November 6th. Finally, Mizuho decreased their price target on Corteva from $85.00 to $78.00 and set an “outperform” rating for the company in a research report on Wednesday, October 8th. Sixteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, Corteva currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.21.

Corteva Price Performance

Shares of NYSE:CTVA opened at $68.66 on Friday. The firm has a market cap of $46.39 billion, a price-to-earnings ratio of 29.34, a P/E/G ratio of 1.44 and a beta of 0.74. Corteva, Inc. has a 1 year low of $53.40 and a 1 year high of $77.41. The company has a current ratio of 1.58, a quick ratio of 1.07 and a debt-to-equity ratio of 0.07. The business has a fifty day simple moving average of $66.15 and a 200 day simple moving average of $68.82.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Tuesday, November 4th. The company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.26. Corteva had a net margin of 9.19% and a return on equity of 9.37%. The firm had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same quarter last year, the firm earned ($0.49) earnings per share. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, sell-side analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current fiscal 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 paid a $0.18 dividend. The ex-dividend date was Monday, December 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.0%. Corteva’s payout ratio is presently 30.77%.

Corteva Company Profile

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.