Allspring Global Investments Holdings LLC Raises Stock Position in Corteva, Inc. $CTVA

Allspring Global Investments Holdings LLC boosted its stake in shares of Corteva, Inc. (NYSE:CTVA) by 93.0% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 133,526 shares of the company’s stock after acquiring an additional 64,327 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Corteva were worth $11,191,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of CTVA. JPL Wealth Management LLC purchased a new stake in shares of Corteva during the third quarter worth about $25,000. Garton & Associates Financial Advisors LLC purchased a new position in Corteva in the 4th quarter valued at about $27,000. Bank of Jackson Hole Trust purchased a new position in Corteva in the 4th quarter valued at about $28,000. Cornerstone Financial Management LLC acquired a new stake in Corteva in the 4th quarter worth about $29,000. Finally, Basepoint Wealth LLC acquired a new stake in Corteva in the 4th quarter worth about $30,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Trading Up 1.9%

Shares of Corteva stock opened at $88.56 on Thursday. Corteva, Inc. has a 1-year low of $60.53 and a 1-year high of $88.57. The stock has a market cap of $59.23 billion, a P/E ratio of 52.09, a P/E/G ratio of 2.64 and a beta of 0.56. The stock’s 50 day simple moving average is $81.13 and its 200-day simple moving average is $78.69. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.47 and a quick ratio of 1.03.

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $1.50 EPS 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 business had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.64 billion. During the same quarter in the previous year, the firm earned $1.13 EPS. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. Analysts predict that Corteva, Inc. will post 3.75 EPS for the current fiscal year.

Corteva Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were issued a dividend of $0.18 per share. The ex-dividend date was Monday, June 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.8%. Corteva’s dividend payout ratio (DPR) is currently 42.35%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CTVA. Rothschild & Co Redburn increased their target price on Corteva from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Barclays lifted their price target on Corteva from $84.00 to $91.00 and gave the stock an “overweight” rating in a research note on Thursday, June 11th. Zacks Research raised Corteva from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 13th. Bank of America raised their price objective on Corteva from $90.00 to $96.00 and gave the company a “buy” rating in a report on Monday. Finally, Argus lifted their target price on shares of Corteva from $80.00 to $91.00 and gave the stock a “buy” rating in a research note on Tuesday, March 31st. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $89.90.

Corteva 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.