Public Sector Pension Investment Board lowered its stake in shares of Corteva (NYSE:CTVA) by 10.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 129,386 shares of the company’s stock after selling 15,520 shares during the period. Public Sector Pension Investment Board’s holdings in Corteva were worth $3,825,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of CTVA. Ilmarinen Mutual Pension Insurance Co bought a new stake in Corteva in the third quarter valued at about $1,419,000. State Street Corp lifted its position in shares of Corteva by 2.9% during the third quarter. State Street Corp now owns 44,884,480 shares of the company’s stock worth $1,256,765,000 after purchasing an additional 1,266,301 shares in the last quarter. Boston Partners lifted its position in shares of Corteva by 32.8% during the third quarter. Boston Partners now owns 8,888,638 shares of the company’s stock worth $248,828,000 after purchasing an additional 2,193,169 shares in the last quarter. Carnegie Capital Asset Management LLC acquired a new position in shares of Corteva during the third quarter worth approximately $583,000. Finally, Andra AP fonden acquired a new position in shares of Corteva during the third quarter worth approximately $568,000. 80.65% of the stock is owned by institutional investors.
CTVA has been the topic of a number of research reports. Credit Suisse Group reiterated a “hold” rating and set a $31.00 target price on shares of Corteva in a research report on Sunday, February 2nd. Sanford C. Bernstein upgraded shares of Corteva from a “market perform” rating to an “outperform” rating and set a $39.00 price objective on the stock in a report on Thursday, January 23rd. JPMorgan Chase & Co. upgraded shares of Corteva from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $26.00 to $29.00 in a report on Friday, January 31st. Susquehanna Bancshares downgraded shares of Corteva from a “positive” rating to a “neutral” rating and lowered their target price for the company from $36.00 to $34.00 in a research note on Tuesday, February 4th. Finally, UBS Group lowered their target price on shares of Corteva from $33.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $31.56.
Corteva (NYSE:CTVA) last announced its quarterly earnings results on Thursday, January 30th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.19. The firm had revenue of $2.98 billion during the quarter, compared to analyst estimates of $2.91 billion. The business’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.10) EPS. As a group, sell-side analysts anticipate that Corteva will post 1.46 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 13th. Investors of record on Tuesday, March 3rd were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date was Monday, March 2nd. Corteva’s dividend payout ratio is 36.36%.
Corteva Company Profile
Corteva, Inc provides agriculture products worldwide. The company develops and supplies germplasm and traits in corn, soybean, and sunflower seed markets. It also supplies products to the agricultural input industry that protect against weeds, insects and other pests, and diseases, as well as to enhance crop health.
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