UBS Asset Management Americas Inc. Trims Stock Holdings in Corteva, Inc. (NYSE:CTVA)


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UBS Asset Management Americas Inc. cut its position in Corteva, Inc. (NYSE:CTVA) by 26.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,232,627 shares of the company’s stock after selling 1,137,531 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.43% of Corteva worth $125,167,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in CTVA. Sterling Financial Planning Inc. purchased a new position in Corteva during the 4th quarter worth approximately $25,000. Concord Wealth Partners purchased a new position in shares of Corteva during the fourth quarter worth $25,000. ADE LLC acquired a new position in Corteva during the fourth quarter valued at $27,000. Montag A & Associates Inc. purchased a new stake in Corteva in the fourth quarter valued at $27,000. Finally, Freedman Financial Associates Inc. acquired a new stake in Corteva during the 4th quarter worth about $31,000. Hedge funds and other institutional investors own 77.15% of the company’s stock.

A number of analysts have recently commented on the company. Royal Bank of Canada upped their target price on Corteva from $45.00 to $52.00 and gave the stock an “outperform” rating in a research note on Friday, February 5th. UBS Group upped their price objective on Corteva from $44.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, February 4th. JPMorgan Chase & Co. upgraded shares of Corteva from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $32.00 to $51.00 in a research note on Friday, February 5th. Barclays raised their price target on shares of Corteva from $37.00 to $46.00 and gave the company an “equal weight” rating in a research report on Friday, February 5th. Finally, Zacks Investment Research upgraded shares of Corteva from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Corteva currently has a consensus rating of “Hold” and an average target price of $42.24.

CTVA stock opened at $46.75 on Thursday. Corteva, Inc. has a 12-month low of $22.38 and a 12-month high of $48.48. The business’s 50-day moving average is $46.25 and its 200 day moving average is $39.52. The company has a current ratio of 1.82, a quick ratio of 1.26 and a debt-to-equity ratio of 0.05. The stock has a market cap of $34.62 billion, a price-to-earnings ratio of 57.01, a PEG ratio of 1.90 and a beta of 0.82.

Corteva (NYSE:CTVA) last released its earnings results on Tuesday, February 2nd. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.09. Corteva had a return on equity of 4.70% and a net margin of 4.42%. The business had revenue of $3.21 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter last year, the business posted $0.07 earnings per share. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. As a group, equities analysts forecast that Corteva, Inc. will post 1.4 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, March 15th. Stockholders of record on Monday, March 1st were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date was Friday, February 26th. Corteva’s payout ratio is 36.36%.

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.

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Institutional Ownership by Quarter for Corteva (NYSE:CTVA)

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