Corteva, Inc. $CTVA Stock: Phoenix Financial Ltd. Increases Position

Phoenix Financial Ltd. grew its stake in Corteva, Inc. (NYSE:CTVA) by 15,365.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,115,522 shares of the company’s stock after purchasing an additional 1,108,309 shares during the quarter. Phoenix Financial Ltd. owned about 0.17% of Corteva worth $86,620,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Danske Bank A S boosted its position in Corteva by 9.0% during the 3rd quarter. Danske Bank A S now owns 909,654 shares of the company’s stock valued at $70,635,000 after acquiring an additional 75,039 shares in the last quarter. Aberdeen Group plc grew its holdings in shares of Corteva by 89.0% during the 3rd quarter. Aberdeen Group plc now owns 917,933 shares of the company’s stock worth $71,277,000 after acquiring an additional 432,151 shares during the period. Allworth Financial LP grew its holdings in shares of Corteva by 12.9% during the 3rd quarter. Allworth Financial LP now owns 23,037 shares of the company’s stock worth $1,789,000 after acquiring an additional 2,640 shares during the period. Fisher Asset Management LLC grew its holdings in shares of Corteva by 68.8% during the 3rd quarter. Fisher Asset Management LLC now owns 12,106 shares of the company’s stock worth $940,000 after acquiring an additional 4,933 shares during the period. Finally, Russell Investments Group Ltd. raised its position in shares of Corteva by 2.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 730,435 shares of the company’s stock worth $56,719,000 after acquiring an additional 16,555 shares in the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Top Corteva Stories

Investors following CTVA have been watching these stories:

• Positive Sentiment: Corteva pointed to new products and cost-cutting efforts as supports for a potential recovery, though these measures have not offset near-term weakness. Corteva Q3 Earnings Call Highlights Brazil Woes and Outlook Cut
• Neutral Sentiment: Several analysts lowered price targets following the outlook reset. Citigroup and UBS kept neutral ratings, while JPMorgan maintained overweight and RBC kept outperform ratings, signaling some analysts still see potential upside from recent levels. Read More. · Read More. · Read More. · Read More.
• Negative Sentiment: Law firms announced investigations into potential securities-law violations related to company disclosures. These are allegations under investigation, not findings of wrongdoing, but may add uncertainty for investors. Law firm investigation announcement

Corteva Stock Up 2.4%

Shares of CTVA stock traded up $0.23 during trading hours on Friday, hitting $9.41. 28,888,260 shares of the company’s stock traded hands, compared to its average volume of 21,957,566. The company has a quick ratio of 1.10, a current ratio of 1.56 and a debt-to-equity ratio of 0.14. The stock has a market cap of $6.28 billion, a price-to-earnings ratio of 4.96, a PEG ratio of 1.72 and a beta of 0.58. The stock’s fifty day simple moving average is $37.22 and its two-hundred day simple moving average is $69.57. Corteva, Inc. has a 12-month low of $9.01 and a 12-month high of $90.97.

Corteva Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 2.1%. This is a negative change from Corteva’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Tuesday, December 1st. Corteva’s dividend payout ratio is presently 47.68%.

Wall Street Analysts Forecast Growth

CTVA has been the subject of a number of research analyst reports. Weiss Ratings cut Corteva from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, August 3rd. UBS Group reduced their price target on Corteva from $15.00 to $10.00 and set a “neutral” rating on the stock in a research note on Friday. Oppenheimer downgraded Corteva from an “outperform” rating to a “market perform” rating in a report on Friday. The Goldman Sachs Group reissued a “buy” rating and set a $20.00 price objective on shares of Corteva in a research report on Thursday, October 8th. Finally, BMO Capital Markets set a $15.00 target price on shares of Corteva in a report on Friday, October 2nd. Fifteen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.60.

About Corteva

Corteva, Inc. is an agricultural science company that develops and supplies products and services for farmers. Its business focuses on seeds and crop protection, including technologies intended to help improve crop performance and manage weeds, insects, and plant diseases. Its seed portfolio includes corn, soybean, and other crop varieties, sold under brands such as Pioneer and Brevant. Corteva’s crop protection offerings include herbicides, insecticides, fungicides, and biological products, alongside digital tools and services that support farm decision-making.