Corteva, Inc. (NYSE:CTVA) Position Increased by National Bank of Canada FI

National Bank of Canada FI boosted its stake in Corteva, Inc. (NYSE:CTVA - Free Report) by 1.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 364,402 shares of the company's stock after buying an additional 4,408 shares during the quarter. National Bank of Canada FI owned approximately 0.05% of Corteva worth $20,759,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Corteva by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 79,174,847 shares of the company's stock valued at $4,509,799,000 after acquiring an additional 646,459 shares in the last quarter. State Street Corp raised its stake in Corteva by 2.3% in the 3rd quarter. State Street Corp now owns 34,290,086 shares of the company's stock valued at $2,015,914,000 after purchasing an additional 768,519 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Corteva by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 17,703,771 shares of the company's stock valued at $1,037,505,000 after purchasing an additional 355,206 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Corteva by 9.2% during the 4th quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company's stock worth $919,507,000 after purchasing an additional 1,354,418 shares during the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of Corteva by 5.9% during the fourth quarter. Van ECK Associates Corp now owns 9,428,206 shares of the company's stock worth $537,031,000 after buying an additional 525,531 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company's stock.

Remove Ads

Corteva Stock Up 5.7 %

Corteva stock traded up $3.18 during trading on Wednesday, reaching $58.70. 6,272,411 shares of the company's stock were exchanged, compared to its average volume of 3,294,538. Corteva, Inc. has a 52-week low of $50.01 and a 52-week high of $66.24. The firm has a market cap of $40.09 billion, a price-to-earnings ratio of 45.50, a PEG ratio of 1.68 and a beta of 0.73. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45. The company's 50-day moving average is $61.53 and its two-hundred day moving average is $60.23.

Corteva (NYSE:CTVA - Get Free Report) last posted its earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share (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%. On average, analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Dividend Announcement

The company also recently announced 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 was Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.16%. Corteva's payout ratio is currently 52.71%.

Insider Activity

In related news, insider Brian Titus sold 26,560 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $63.74, for a total value of $1,692,934.40. Following the transaction, the insider now 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.14% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CTVA. The Goldman Sachs Group began coverage on shares of Corteva in a research report on Thursday, March 13th. They set a "buy" rating and a $71.00 target price on the stock. BNP Paribas upgraded Corteva to a "hold" rating in a report on Monday, February 10th. Citigroup upped their target price on Corteva from $69.00 to $74.00 and gave the company a "buy" rating in a research note on Wednesday, January 29th. Royal Bank of Canada raised their price target on Corteva from $72.00 to $73.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. Finally, Barclays upped their price objective on shares of Corteva from $62.00 to $64.00 and gave the company an "equal weight" rating in a research note on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $68.06.

Corteva Company 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.