Corteva, Inc. (NYSE:CTVA) Holdings Raised by NEOS Investment Management LLC

NEOS Investment Management LLC grew its position in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 31.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,745 shares of the company's stock after purchasing an additional 9,954 shares during the quarter. NEOS Investment Management LLC's holdings in Corteva were worth $2,378,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in CTVA. Raymond James Financial Inc. acquired a new stake in Corteva during the fourth quarter worth about $161,052,000. Franklin Resources Inc. lifted its holdings in Corteva by 6.1% in the third quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company's stock valued at $860,746,000 after acquiring an additional 856,007 shares during the last quarter. State Street Corp grew its position in Corteva by 2.3% in the third 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 period. Vanguard Group Inc. increased its stake in Corteva by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 79,174,847 shares of the company's stock worth $4,509,799,000 after acquiring an additional 646,459 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in shares of 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 purchasing an additional 596,073 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Argus raised Corteva from a "hold" rating to a "buy" rating and set a $69.00 price objective on the stock in a research report on Monday. The Goldman Sachs Group began coverage on Corteva in a research note on Thursday, March 13th. They issued a "buy" rating and a $71.00 price objective for the company. Citigroup upped their target price on shares of Corteva from $69.00 to $74.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. Bank of America lifted their price target on shares of Corteva from $69.00 to $73.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. Finally, Oppenheimer raised their price objective on shares of Corteva from $70.00 to $72.00 and gave the company an "outperform" rating in a report on Friday, February 7th. One equities research 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. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $68.06.

Insider Activity

In other Corteva news, insider Brian Titus sold 26,560 shares of the firm's 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 completion of the transaction, the insider now directly owns 11,347 shares of the company's stock, valued at $723,257.78. This trade represents a 70.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.14% of the company's stock.

Corteva Trading Up 0.2 %

CTVA stock traded up $0.14 during trading on Wednesday, reaching $63.69. 514,442 shares of the stock traded hands, compared to its average volume of 3,221,952. The business's 50 day moving average price is $62.56 and its 200-day moving average price is $60.23. The firm has a market capitalization of $43.50 billion, a PE ratio of 49.36, a P/E/G ratio of 1.68 and a beta of 0.79. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. Corteva, Inc. has a 52-week low of $50.01 and a 52-week high of $66.24.

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%. As a group, sell-side analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders 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 dividend yield of 1.07%. Corteva's dividend payout ratio (DPR) is presently 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.