E. Ohman J or Asset Management AB Takes $1.17 Million Position in Corteva, Inc. (NYSE:CTVA)

E. Ohman J or Asset Management AB bought a new stake in Corteva, Inc. (NYSE:CTVA) during the 4th quarter, HoldingsChannel.com reports. The firm bought 20,500 shares of the company’s stock, valued at approximately $1,168,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CTVA. Czech National Bank lifted its position in shares of Corteva by 6.2% in the third quarter. Czech National Bank now owns 141,018 shares of the company’s stock valued at $8,290,000 after acquiring an additional 8,202 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Corteva by 50.6% in the third quarter. GAMMA Investing LLC now owns 11,029 shares of the company’s stock valued at $648,000 after acquiring an additional 3,705 shares in the last quarter. Bangor Savings Bank lifted its position in shares of Corteva by 34.7% in the third quarter. Bangor Savings Bank now owns 935 shares of the company’s stock valued at $55,000 after acquiring an additional 241 shares in the last quarter. Atomi Financial Group Inc. acquired a new stake in shares of Corteva in the third quarter valued at approximately $253,000. Finally, City Holding Co. increased its holdings in shares of Corteva by 1.6% in the third quarter. City Holding Co. now owns 15,525 shares of the company’s stock valued at $913,000 after purchasing an additional 246 shares during the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on CTVA. KeyCorp cut their price target on Corteva from $69.00 to $68.00 and set an “overweight” rating for the company in a report on Friday, January 10th. Barclays raised their target price on Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. UBS Group cut their target price on Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Bank of America raised their target price on Corteva from $67.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Finally, Oppenheimer reissued an “outperform” rating and set a $70.00 target price (up previously from $69.00) on shares of Corteva in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $67.06.

Corteva Trading Down 3.2 %

CTVA opened at $63.62 on Thursday. Corteva, Inc. has a 12 month low of $50.01 and a 12 month high of $66.24. The stock has a market capitalization of $43.72 billion, a price-to-earnings ratio of 64.26, a PEG ratio of 1.71 and a beta of 0.78. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.50 and a quick ratio of 0.96. The business has a fifty day moving average price of $60.20 and a 200 day moving average price of $58.07.

Corteva (NYSE:CTVA) last released 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 6.63% and a net margin of 4.18%. Sell-side analysts expect that Corteva, Inc. will post 2.58 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a dividend of $0.17 per share. The ex-dividend date is Monday, March 3rd. This represents a $0.68 annualized dividend and a yield of 1.07%. Corteva’s payout ratio is 68.69%.

Corteva declared that its board has approved a stock buyback program on Tuesday, November 19th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 7.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

About Corteva

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.