KLP Kapitalforvaltning AS Invests $13.33 Million in Corteva, Inc. (NYSE:CTVA)

KLP Kapitalforvaltning AS acquired a new stake in shares of Corteva, Inc. (NYSE:CTVA - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 233,976 shares of the company's stock, valued at approximately $13,327,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in CTVA. Raymond James Financial Inc. bought a new stake in Corteva during the 4th quarter valued at $161,052,000. 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 in the last quarter. State Street Corp raised its holdings in shares of Corteva by 2.3% in the 3rd quarter. State Street Corp now owns 34,290,086 shares of the company's stock worth $2,015,914,000 after acquiring an additional 768,519 shares during the last quarter. BNP Paribas Financial Markets lifted its position in Corteva by 176.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 934,748 shares of the company's stock valued at $54,954,000 after acquiring an additional 596,073 shares in the last quarter. Finally, Dearborn Partners LLC boosted its stake in Corteva by 5,353.8% during the 4th quarter. Dearborn Partners LLC now owns 547,230 shares of the company's stock valued at $31,170,000 after purchasing an additional 537,196 shares during the last quarter. Institutional investors own 81.54% of the company's stock.

Corteva Stock Performance

NYSE CTVA traded down $0.16 on Tuesday, hitting $61.91. 2,565,179 shares of the stock traded hands, compared to its average volume of 3,048,874. The firm has a market capitalization of $42.44 billion, a price-to-earnings ratio of 47.99, a PEG ratio of 1.68 and a beta of 0.79. The business's fifty day moving average is $62.48 and its two-hundred day moving average is $59.95. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45. Corteva, Inc. has a 12 month low of $50.01 and a 12 month high of $66.24.

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Corteva (NYSE:CTVA - Get Free Report) last announced its quarterly earnings data 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%. As a group, equities analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $0.17 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.68 annualized dividend and a yield of 1.10%. Corteva's dividend payout ratio is currently 52.71%.

Insider Buying and Selling at Corteva

In other Corteva news, insider Brian Titus sold 26,560 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $63.74, for a total value of $1,692,934.40. Following the sale, the insider now directly owns 11,347 shares in the company, valued at $723,257.78. This represents a 70.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.14% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on CTVA shares. Citigroup raised their target price on Corteva from $69.00 to $74.00 and gave the company a "buy" rating in a report on Wednesday, January 29th. Barclays lifted their price objective on shares of Corteva from $62.00 to $64.00 and gave the stock an "equal weight" rating in a report on Tuesday, January 21st. Royal Bank of Canada increased their target price on shares of Corteva from $72.00 to $73.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Bank of America boosted their price target on shares of Corteva from $69.00 to $73.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Finally, Oppenheimer increased their price objective on shares of Corteva from $70.00 to $72.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $68.00.

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.