Corteva, Inc. (NYSE:CTVA) Holdings Boosted by Teacher Retirement System of Texas

Teacher Retirement System of Texas grew its stake in shares of Corteva, Inc. (NYSE:CTVA) by 774.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,832 shares of the company’s stock after purchasing an additional 36,165 shares during the quarter. Teacher Retirement System of Texas’ holdings in Corteva were worth $2,326,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CTVA. Oak Thistle LLC acquired a new position in Corteva during the 4th quarter valued at about $1,514,000. Van ECK Associates Corp boosted its position in shares of Corteva by 5.9% during the fourth quarter. Van ECK Associates Corp now owns 9,428,206 shares of the company’s stock worth $537,031,000 after buying an additional 525,531 shares during the period. Swedbank AB grew its holdings in Corteva by 51.9% in the 4th quarter. Swedbank AB now owns 695,641 shares of the company’s stock worth $39,624,000 after buying an additional 237,764 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Corteva by 755.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 552,769 shares of the company’s stock valued at $31,486,000 after acquiring an additional 488,181 shares during the period. Finally, S.E.E.D. Planning Group LLC raised its stake in Corteva by 54.5% during the 4th quarter. S.E.E.D. Planning Group LLC now owns 96,103 shares of the company’s stock valued at $5,474,000 after acquiring an additional 33,886 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Brian Titus sold 26,560 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $63.74, for a total value of $1,692,934.40. Following the transaction, the insider now owns 11,347 shares in the company, valued at $723,257.78. This represents a 70.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.14% of the company’s stock.

Corteva Trading Up 1.4 %

Shares of NYSE CTVA opened at $62.73 on Thursday. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a 12 month low of $50.01 and a 12 month high of $66.24. The company has a market cap of $43.01 billion, a price-to-earnings ratio of 48.63, a P/E/G ratio of 1.68 and a beta of 0.79. The business has a fifty day simple moving average of $62.54 and a 200-day simple moving average of $60.01.

Corteva (NYSE:CTVA) last announced its earnings results on Wednesday, February 5th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.02). Corteva had a return on equity of 7.19% and a net margin of 5.36%. Sell-side analysts predict that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.08%. The ex-dividend date was Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is currently 52.71%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Royal Bank of Canada raised their price target on Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Barclays boosted their price target on shares of Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. UBS Group reduced their price target on shares of Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, January 10th. KeyCorp raised their price objective on shares of Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Finally, Oppenheimer upped their target price on Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Corteva has an average rating of “Moderate Buy” and an average target price of $68.00.

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.