Mitsubishi UFJ Asset Management Co. Ltd. Raises Holdings in Corteva, Inc. (NYSE:CTVA)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 7.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,101,692 shares of the company's stock after purchasing an additional 77,189 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.16% of Corteva worth $61,629,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CTVA. Great Valley Advisor Group Inc. bought a new position in Corteva in the 3rd quarter valued at $203,000. Fisher Asset Management LLC boosted its holdings in shares of Corteva by 12.9% in the 3rd quarter. Fisher Asset Management LLC now owns 9,043 shares of the company's stock worth $532,000 after buying an additional 1,030 shares during the last quarter. Independent Advisor Alliance boosted its holdings in shares of Corteva by 7.7% in the 3rd quarter. Independent Advisor Alliance now owns 7,862 shares of the company's stock worth $462,000 after buying an additional 565 shares during the last quarter. FMR LLC grew its position in Corteva by 1.9% during the third quarter. FMR LLC now owns 10,747,791 shares of the company's stock valued at $631,863,000 after buying an additional 203,126 shares during the period. Finally, BNP Paribas Financial Markets increased its holdings in Corteva by 176.0% during the third quarter. BNP Paribas Financial Markets now owns 934,748 shares of the company's stock worth $54,954,000 after buying an additional 596,073 shares during the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Corteva

In other Corteva news, insider Brian Titus sold 26,560 shares of the company'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 value of $1,692,934.40. Following the completion of the sale, the insider now owns 11,347 shares of the company's stock, valued at $723,257.78. This represents a 70.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CTVA. KeyCorp boosted their target price on shares of Corteva from $68.00 to $70.00 and gave the company an "overweight" rating in a research note on Friday, February 7th. Royal Bank of Canada upped their price objective on Corteva from $72.00 to $73.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Citigroup increased their price objective on Corteva from $69.00 to $74.00 and gave the company a "buy" rating in a report on Wednesday, January 29th. Barclays boosted their target price on Corteva from $62.00 to $64.00 and gave the company an "equal weight" rating in a research note on Tuesday, January 21st. Finally, UBS Group cut their target price on shares of Corteva from $74.00 to $73.00 and set a "buy" rating for the company in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $68.06.

Corteva Price Performance

Shares of CTVA stock traded up $0.12 on Wednesday, reaching $63.67. The company's stock had a trading volume of 461,577 shares, compared to its average volume of 3,501,094. Corteva, Inc. has a 12-month low of $50.01 and a 12-month high of $66.24. The stock's 50 day simple moving average is $62.56 and its 200-day simple moving average is $60.23. 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 company has a market capitalization of $43.49 billion, a P/E ratio of 49.34, a PEG ratio of 1.68 and a beta of 0.79.

Corteva (NYSE:CTVA - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.32 EPS for the quarter, missing the consensus estimate 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 predict that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date was Monday, March 3rd. Corteva's dividend payout ratio is currently 52.71%.

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.