Corteva, Inc. (NYSE:CTVA) Shares Purchased by Intact Investment Management Inc.

Intact Investment Management Inc. grew its stake in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 76.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,300 shares of the company's stock after purchasing an additional 5,340 shares during the quarter. Intact Investment Management Inc.'s holdings in Corteva were worth $701,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. State Street Corp lifted its stake in shares of Corteva by 2.3% during the third quarter. State Street Corp now owns 34,290,086 shares of the company's stock worth $2,015,914,000 after purchasing an additional 768,519 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Corteva by 2.0% during the third quarter. Geode Capital Management LLC now owns 17,703,771 shares of the company's stock worth $1,037,505,000 after acquiring an additional 355,206 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Corteva by 6.1% during the third quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company's stock worth $860,746,000 after acquiring an additional 856,007 shares during the last quarter. Harris Associates L P increased its position in shares of Corteva by 1.4% during the third quarter. Harris Associates L P now owns 14,362,309 shares of the company's stock worth $844,360,000 after acquiring an additional 200,917 shares during the last quarter. Finally, FMR LLC increased its position in shares of Corteva by 1.9% during the third quarter. FMR LLC now owns 10,747,791 shares of the company's stock worth $631,863,000 after acquiring an additional 203,126 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company's stock.

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Analysts Set New Price Targets

A number of analysts have recently issued reports on CTVA shares. Bank of America lifted their target price on Corteva from $69.00 to $73.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Royal Bank of Canada lifted their target price on Corteva from $72.00 to $73.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. Oppenheimer lifted their target price on Corteva from $70.00 to $72.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. The Goldman Sachs Group assumed coverage on Corteva in a report on Thursday, March 13th. They issued a "buy" rating and a $71.00 price objective for the company. Finally, KeyCorp boosted their price objective on Corteva from $68.00 to $70.00 and gave the company an "overweight" rating in a report on Friday, February 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $68.00.

Corteva Stock Performance

CTVA stock traded down $0.60 during midday trading on Thursday, reaching $61.86. The company had a trading volume of 2,684,735 shares, compared to its average volume of 3,039,076. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. The stock has a 50 day moving average price of $62.25 and a 200 day moving average price of $59.79. Corteva, Inc. has a fifty-two week low of $50.01 and a fifty-two week high of $66.24. The firm has a market capitalization of $42.41 billion, a PE ratio of 47.95, a P/E/G ratio of 1.68 and a beta of 0.79.

Corteva (NYSE:CTVA - Get Free Report) last issued its earnings results on Wednesday, February 5th. The company reported $0.32 EPS for the quarter, missing analysts' consensus estimates of $0.34 by ($0.02). Corteva had a net margin of 5.36% and a return on equity of 7.19%. Analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.10%. Corteva's dividend payout ratio is presently 52.71%.

Insider Transactions at Corteva

In other news, insider Brian Titus sold 26,560 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the completion of the transaction, the insider now directly owns 11,347 shares in the company, valued at approximately $723,257.78. The trade was a 70.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.20% of the company's stock.

About Corteva

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.