DNB Asset Management AS Buys 4,825 Shares of Corteva, Inc. $CTVA

DNB Asset Management AS increased its stake in Corteva, Inc. (NYSE:CTVA) by 3.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 138,848 shares of the company’s stock after acquiring an additional 4,825 shares during the period. DNB Asset Management AS’s holdings in Corteva were worth $10,348,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CTVA. Gladwyn Financial Advisors Inc. bought a new position in shares of Corteva during the 2nd quarter valued at about $25,000. Curat Global LLC boosted its stake in Corteva by 93.7% in the second quarter. Curat Global LLC now owns 370 shares of the company’s stock worth $28,000 after buying an additional 179 shares in the last quarter. Maryland Capital Advisors Inc. bought a new position in Corteva during the second quarter valued at approximately $29,000. DHJJ Financial Advisors Ltd. raised its stake in shares of Corteva by 132.2% during the second quarter. DHJJ Financial Advisors Ltd. now owns 527 shares of the company’s stock worth $39,000 after acquiring an additional 300 shares in the last quarter. Finally, Princeton Global Asset Management LLC lifted its holdings in shares of Corteva by 61.5% in the 2nd quarter. Princeton Global Asset Management LLC now owns 525 shares of the company’s stock worth $39,000 after acquiring an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Trading Up 1.8%

NYSE CTVA opened at $65.55 on Friday. The stock has a market cap of $44.29 billion, a P/E ratio of 28.01, a price-to-earnings-growth ratio of 1.49 and a beta of 0.81. Corteva, Inc. has a fifty-two week low of $53.40 and a fifty-two week high of $77.41. The stock has a 50 day simple moving average of $64.86 and a two-hundred day simple moving average of $69.68. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.07 and a current ratio of 1.58.

Corteva (NYSE:CTVA) last announced its earnings results on Tuesday, November 4th. The company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.26. Corteva had a return on equity of 9.37% and a net margin of 9.19%.The company had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter in the prior year, the company earned ($0.49) earnings per share. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.1%. Corteva’s payout ratio is presently 30.77%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CTVA shares. BMO Capital Markets set a $86.00 target price on shares of Corteva in a report on Monday, September 15th. The Goldman Sachs Group cut their price target on shares of Corteva from $85.00 to $77.00 and set a “buy” rating for the company in a research report on Wednesday, October 22nd. Mizuho decreased their price objective on Corteva from $85.00 to $78.00 and set an “outperform” rating on the stock in a report on Wednesday, October 8th. BNP Paribas Exane boosted their target price on Corteva from $70.00 to $72.00 and gave the company a “neutral” rating in a research note on Monday, November 17th. Finally, Morgan Stanley set a $84.00 price target on Corteva in a research note on Monday, September 15th. Fifteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $78.05.

Insider Activity

In related news, EVP Robert D. King sold 37,280 shares of the business’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the transaction, the executive vice president owned 49,262 shares in the company, valued at $3,655,240.40. The trade was a 43.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.14% of the stock is owned by corporate insiders.

Corteva Company Profile

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.