Pictet Asset Management Holding SA Cuts Stock Position in Corteva, Inc. (NYSE:CTVA)

Pictet Asset Management Holding SA decreased its holdings in Corteva, Inc. (NYSE:CTVA - Free Report) by 3.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 339,057 shares of the company's stock after selling 10,352 shares during the quarter. Pictet Asset Management Holding SA's holdings in Corteva were worth $19,313,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Corteva during the 4th quarter valued at $251,892,000. NEOS Investment Management LLC lifted its position in Corteva by 31.3% during the fourth quarter. NEOS Investment Management LLC now owns 41,745 shares of the company's stock worth $2,378,000 after purchasing an additional 9,954 shares during the period. UniSuper Management Pty Ltd lifted its position in Corteva by 22.0% during the fourth quarter. UniSuper Management Pty Ltd now owns 59,351 shares of the company's stock worth $3,381,000 after purchasing an additional 10,713 shares during the period. WINTON GROUP Ltd acquired a new stake in Corteva during the fourth quarter worth about $5,740,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Corteva by 7.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,101,692 shares of the company's stock valued at $61,629,000 after buying an additional 77,189 shares during the period. Institutional investors own 81.54% of the company's stock.

Insiders Place Their Bets

In other Corteva news, insider Brian Titus sold 26,560 shares of Corteva stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the transaction, the insider now directly owns 11,347 shares of the company's stock, valued at $723,257.78. The trade was a 70.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.14% of the company's stock.

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Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Oppenheimer increased their price target on shares of Corteva from $70.00 to $72.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. Royal Bank of Canada raised their target price on Corteva from $72.00 to $73.00 and gave the company an "outperform" rating in a report on Friday, February 7th. UBS Group lowered their price target on Corteva from $74.00 to $73.00 and set a "buy" rating for the company in a report on Friday, January 10th. Wells Fargo & Company raised their price objective on Corteva from $67.00 to $73.00 and gave the company an "overweight" rating in a research note on Tuesday, January 28th. Finally, BNP Paribas raised Corteva to a "hold" rating in a research note on Monday, February 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Corteva currently has a consensus rating of "Moderate Buy" and a consensus target price of $68.06.

Corteva Trading Down 9.2 %

Shares of NYSE:CTVA traded down $5.64 during trading on Friday, reaching $55.66. The stock had a trading volume of 6,391,602 shares, compared to its average volume of 3,247,942. Corteva, Inc. has a 52 week low of $50.01 and a 52 week high of $66.24. 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 firm's fifty day moving average is $62.36 and its 200 day moving average is $60.31. The stock has a market cap of $38.02 billion, a price-to-earnings ratio of 43.15, a P/E/G ratio of 1.68 and a beta of 0.73.

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

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid 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 yield of 1.22%. Corteva's dividend payout ratio (DPR) is currently 52.71%.

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.