Ninety One UK Ltd Acquires 49,571 Shares of Corteva, Inc. $CTVA

Ninety One UK Ltd grew its holdings in Corteva, Inc. (NYSE:CTVA) by 9.6% in the 3rd quarter, Holdings Channel reports. The fund owned 564,768 shares of the company’s stock after purchasing an additional 49,571 shares during the quarter. Ninety One UK Ltd’s holdings in Corteva were worth $38,195,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Brighton Jones LLC grew its position in shares of Corteva by 307.2% in the 4th quarter. Brighton Jones LLC now owns 15,588 shares of the company’s stock valued at $888,000 after purchasing an additional 11,760 shares during the period. Baird Financial Group Inc. raised its holdings in Corteva by 0.3% during the 1st quarter. Baird Financial Group Inc. now owns 200,389 shares of the company’s stock worth $12,610,000 after buying an additional 659 shares during the period. MAI Capital Management lifted its stake in Corteva by 5.7% in the first quarter. MAI Capital Management now owns 14,660 shares of the company’s stock valued at $923,000 after buying an additional 794 shares in the last quarter. Focus Partners Advisor Solutions LLC boosted its holdings in shares of Corteva by 42.2% in the first quarter. Focus Partners Advisor Solutions LLC now owns 5,009 shares of the company’s stock valued at $315,000 after buying an additional 1,486 shares during the period. Finally, EP Wealth Advisors LLC increased its position in shares of Corteva by 3.2% during the first quarter. EP Wealth Advisors LLC now owns 18,691 shares of the company’s stock worth $1,176,000 after acquiring an additional 578 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on CTVA. KeyCorp reaffirmed a “sector weight” rating on shares of Corteva in a research report on Friday, October 3rd. Wells Fargo & Company cut their price target on Corteva from $80.00 to $77.00 and set an “overweight” rating on the stock in a report on Tuesday, November 11th. Zacks Research downgraded Corteva from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 30th. Wall Street Zen upgraded Corteva from a “hold” rating to a “buy” rating in a research note on Saturday, December 20th. Finally, UBS Group reduced their price target on Corteva from $85.00 to $81.00 and set a “buy” rating for the company in a research report on Thursday, October 30th. Sixteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.21.

Corteva Stock Performance

CTVA opened at $67.08 on Thursday. The business’s 50-day simple moving average is $65.37 and its 200 day simple moving average is $69.06. Corteva, Inc. has a 52-week low of $53.40 and a 52-week high of $77.41. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.07 and a current ratio of 1.58. The firm has a market capitalization of $45.33 billion, a PE ratio of 28.67, a PEG ratio of 1.53 and a beta of 0.74.

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 the consensus estimate of ($0.49) by $0.26. Corteva had a return on equity of 9.37% and a net margin of 9.19%.The firm had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same quarter in the previous year, the firm earned ($0.49) EPS. The business’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, sell-side analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Monday, December 1st. Corteva’s dividend payout ratio is 30.77%.

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.