Lazard Asset Management LLC Sells 36,218 Shares of Corteva, Inc. $CTVA

Lazard Asset Management LLC trimmed its stake in Corteva, Inc. (NYSE:CTVA) by 6.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 555,547 shares of the company’s stock after selling 36,218 shares during the quarter. Lazard Asset Management LLC’s holdings in Corteva were worth $46,505,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CTVA. Family Manage LLC raised its holdings in shares of Corteva by 8.2% during the first quarter. Family Manage LLC now owns 3,638 shares of the company’s stock valued at $305,000 after purchasing an additional 276 shares during the period. OMERS ADMINISTRATION Corp grew its stake in shares of Corteva by 18.8% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 66,744 shares of the company’s stock valued at $5,587,000 after buying an additional 10,573 shares during the period. Rice Hall James & Associates LLC acquired a new stake in shares of Corteva in the 1st quarter valued at about $554,000. Lombard Odier Asset Management Switzerland SA increased its position in Corteva by 22.2% in the 1st quarter. Lombard Odier Asset Management Switzerland SA now owns 19,117 shares of the company’s stock valued at $1,600,000 after buying an additional 3,472 shares in the last quarter. Finally, Lombard Odier Asset Management USA Corp acquired a new position in Corteva during the 1st quarter worth approximately $309,000. 81.54% of the stock is owned by institutional investors.

Corteva Stock Down 1.8%

Shares of NYSE:CTVA opened at $87.67 on Tuesday. The stock has a market cap of $58.64 billion, a price-to-earnings ratio of 51.57, a PEG ratio of 2.70 and a beta of 0.56. The company has a quick ratio of 1.03, a current ratio of 1.47 and a debt-to-equity ratio of 0.07. Corteva, Inc. has a 12-month low of $60.53 and a 12-month high of $89.39. The business’s 50 day moving average is $81.52 and its 200 day moving average is $79.12.

Corteva (NYSE:CTVA) last released its quarterly earnings results on Tuesday, May 5th. The company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.32. Corteva had a return on equity of 9.95% and a net margin of 6.50%.The business had revenue of $4.91 billion during the quarter, compared to analyst estimates of $4.64 billion. During the same period in the prior year, the firm posted $1.13 EPS. Corteva’s quarterly revenue was up 11.0% compared to the same quarter last year. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. On average, sell-side analysts forecast that Corteva, Inc. will post 3.76 earnings per share for the current fiscal year.

Corteva Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, September 1st. Corteva’s dividend payout ratio (DPR) is presently 42.35%.

Analyst Ratings Changes

CTVA has been the subject of a number of research reports. Zacks Research raised Corteva from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 13th. Bank of America upped their target price on Corteva from $90.00 to $96.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Rothschild & Co Redburn increased their target price on Corteva from $80.00 to $90.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. UBS Group decreased their price target on shares of Corteva from $90.00 to $86.00 and set a “neutral” rating for the company in a research note on Tuesday, June 9th. Finally, Mizuho raised their price objective on shares of Corteva from $96.00 to $97.00 and gave the company an “outperform” rating in a research note on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, Corteva has an average rating of “Moderate Buy” and a consensus price target of $90.19.

About Corteva

Corteva, Inc (NYSE: CTVA) is an independent global agriculture company that was established as a publicly traded firm in mid‑2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva’s operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.

Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.