Neuberger Berman Group LLC Acquires 18,904 Shares of Corteva, Inc. $CTVA

Neuberger Berman Group LLC grew its holdings in Corteva, Inc. (NYSE:CTVA) by 1.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,160,574 shares of the company’s stock after purchasing an additional 18,904 shares during the period. Neuberger Berman Group LLC owned about 0.17% of Corteva worth $86,498,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Gladwyn Financial Advisors Inc. bought a new stake in Corteva in the 2nd quarter worth about $25,000. Curat Global LLC raised its holdings in shares of Corteva by 93.7% during the second quarter. Curat Global LLC now owns 370 shares of the company’s stock valued at $28,000 after purchasing an additional 179 shares during the last quarter. Maryland Capital Advisors Inc. purchased a new stake in Corteva in the second quarter worth approximately $29,000. DHJJ Financial Advisors Ltd. grew its position in Corteva by 132.2% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 527 shares of the company’s stock worth $39,000 after purchasing an additional 300 shares during the period. Finally, Princeton Global Asset Management LLC raised its stake in Corteva by 61.5% during the 2nd quarter. Princeton Global Asset Management LLC now owns 525 shares of the company’s stock valued at $39,000 after buying an additional 200 shares during the last quarter. 81.54% of the stock is owned by institutional investors.

Corteva Trading Up 1.0%

Corteva stock opened at $66.71 on Friday. Corteva, Inc. has a 12-month low of $53.40 and a 12-month high of $77.41. The firm has a market capitalization of $45.07 billion, a price-to-earnings ratio of 28.51, a P/E/G ratio of 1.51 and a beta of 0.81. The firm has a 50 day moving average of $64.53 and a 200 day moving average of $69.67. The company has a current ratio of 1.58, a quick ratio of 1.07 and a debt-to-equity ratio of 0.07.

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Tuesday, November 4th. The company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.26. The business had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.47 billion. Corteva had a net margin of 9.19% and a return on equity of 9.37%. The company’s revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.49) earnings per share. As a group, research analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a dividend of $0.18 per share. The ex-dividend date is Monday, December 1st. This represents a $0.72 annualized dividend and a dividend yield of 1.1%. Corteva’s dividend payout ratio (DPR) is currently 30.77%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CTVA. Weiss Ratings restated a “hold (c)” rating on shares of Corteva in a research note on Tuesday. UBS Group dropped their target price on Corteva from $85.00 to $81.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. Morgan Stanley set a $84.00 price target on shares of Corteva in a research report on Monday, September 15th. The Goldman Sachs Group lowered their price objective on shares of Corteva from $85.00 to $77.00 and set a “buy” rating on the stock in a research note on Wednesday, October 22nd. Finally, Royal Bank Of Canada cut their target price on shares of Corteva from $86.00 to $80.00 and set an “outperform” rating for the company in a research report on Friday, October 17th. Fifteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $78.05.

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.