UniSuper Management Pty Ltd Boosts Stock Position in Corteva, Inc. (NYSE:CTVA)

UniSuper Management Pty Ltd raised its holdings in Corteva, Inc. (NYSE:CTVA) by 22.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,351 shares of the company’s stock after purchasing an additional 10,713 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Corteva were worth $3,381,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. WINTON GROUP Ltd purchased a new stake in Corteva during the fourth quarter worth about $5,740,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Corteva by 7.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,101,692 shares of the company’s stock worth $61,629,000 after purchasing an additional 77,189 shares during the period. Korea Investment CORP lifted its stake in Corteva by 20.8% in the fourth quarter. Korea Investment CORP now owns 610,748 shares of the company’s stock valued at $34,788,000 after purchasing an additional 104,992 shares during the last quarter. Ausdal Financial Partners Inc. purchased a new position in Corteva in the fourth quarter valued at approximately $269,000. Finally, Mitsubishi UFJ Trust & Banking Corp increased its position in Corteva by 0.6% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 333,616 shares of the company’s stock worth $19,003,000 after buying an additional 1,828 shares during the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Corteva news, insider Brian Titus sold 26,560 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the insider now owns 11,347 shares of the company’s stock, valued at $723,257.78. This represents a 70.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

CTVA has been the topic of a number of recent research reports. Citigroup upped their price target on Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. KeyCorp increased their target price on shares of Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Royal Bank of Canada lifted their target price on shares of Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. BNP Paribas upgraded shares of Corteva to a “hold” rating in a research note on Monday, February 10th. Finally, UBS Group reduced their price objective 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. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $68.00.

Corteva Stock Down 2.2 %

Shares of NYSE CTVA opened at $61.08 on Friday. The business has a 50-day moving average of $62.53 and a 200-day moving average of $60.07. The firm has a market capitalization of $41.72 billion, a price-to-earnings ratio of 47.35, a PEG ratio of 1.68 and a beta of 0.79. The company has a current ratio of 1.45, a quick ratio of 0.93 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.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates 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 expect that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date was Monday, March 3rd. Corteva’s payout ratio is currently 52.71%.

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.