Corteva, Inc. (NYSE:CTVA) Shares Purchased by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd boosted its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 296.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,026 shares of the company’s stock after buying an additional 19,455 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Corteva were worth $1,501,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Capital International Investors lifted its holdings in Corteva by 47.2% during the 4th quarter. Capital International Investors now owns 25,758,735 shares of the company’s stock worth $1,234,359,000 after buying an additional 8,260,808 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Corteva by 19.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 13,236,504 shares of the company’s stock valued at $634,293,000 after purchasing an additional 2,141,428 shares during the last quarter. Northern Trust Corp increased its position in shares of Corteva by 2.5% in the 4th quarter. Northern Trust Corp now owns 12,815,795 shares of the company’s stock valued at $614,133,000 after purchasing an additional 310,012 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Corteva by 7.2% in the 1st quarter. Van ECK Associates Corp now owns 9,145,282 shares of the company’s stock valued at $527,409,000 after purchasing an additional 617,030 shares during the last quarter. Finally, Harris Associates L P increased its position in shares of Corteva by 87.1% in the 4th quarter. Harris Associates L P now owns 9,011,702 shares of the company’s stock valued at $431,841,000 after purchasing an additional 4,194,981 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Trading Down 0.7 %

Shares of CTVA traded down $0.38 during mid-day trading on Tuesday, reaching $54.39. 1,625,510 shares of the company were exchanged, compared to its average volume of 3,448,374. The stock has a market capitalization of $37.91 billion, a PE ratio of 68.85, a PEG ratio of 1.48 and a beta of 0.77. The business has a 50 day simple moving average of $53.78 and a two-hundred day simple moving average of $53.51. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 1.51. Corteva, Inc. has a 52 week low of $43.22 and a 52 week high of $58.76.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10. Corteva had a return on equity of 6.68% and a net margin of 3.32%. The firm had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter last year, the firm posted $1.16 earnings per share. The company’s revenue for the quarter was down 8.0% compared to the same quarter last year. On average, analysts predict that Corteva, Inc. will post 2.79 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th were paid a $0.16 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $0.64 annualized dividend and a dividend yield of 1.18%. Corteva’s payout ratio is presently 81.01%.

Insider Buying and Selling at Corteva

In related news, insider Brian Titus sold 12,134 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $56.65, for a total transaction of $687,391.10. Following the completion of the transaction, the insider now directly owns 13,495 shares in the company, valued at $764,491.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, SVP Cornel B. Fuerer sold 39,736 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $57.41, for a total value of $2,281,243.76. Following the completion of the transaction, the senior vice president now owns 126,628 shares of the company’s stock, valued at approximately $7,269,713.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brian Titus sold 12,134 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $56.65, for a total value of $687,391.10. Following the transaction, the insider now directly owns 13,495 shares of the company’s stock, valued at approximately $764,491.75. The disclosure for this sale can be found here. Insiders have sold a total of 83,556 shares of company stock worth $4,795,016 over the last ninety days. 0.14% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CTVA has been the topic of a number of recent analyst reports. Wells Fargo & Company increased their price objective on shares of Corteva from $66.00 to $67.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. OTR Global reissued a “negative” rating on shares of Corteva in a research report on Friday, June 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $65.00 target price on shares of Corteva in a research report on Wednesday, June 12th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $57.00 price target (down previously from $58.00) on shares of Corteva in a research note on Friday, April 12th. Finally, Canaccord Genuity Group increased their price target on shares of Corteva from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Corteva currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.00.

Corteva 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.