Corteva, Inc. (NYSE:CTVA) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC lowered its position in shares of Corteva, Inc. (NYSE:CTVA) by 24.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,635,105 shares of the company’s stock after selling 3,466,156 shares during the quarter. Nuveen Asset Management LLC owned 1.55% of Corteva worth $605,776,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Flagship Wealth Advisors LLC purchased a new stake in shares of Corteva during the fourth quarter worth $25,000. Noble Wealth Management PBC bought a new position in Corteva in the 4th quarter worth $26,000. Hager Investment Management Services LLC acquired a new position in shares of Corteva during the 4th quarter worth about $27,000. LGT Financial Advisors LLC bought a new stake in shares of Corteva in the fourth quarter valued at approximately $31,000. Finally, Golden State Wealth Management LLC bought a new position in shares of Corteva during the 4th quarter worth about $32,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Argus upgraded shares of Corteva from a “hold” rating to a “buy” rating and set a $69.00 price objective for the company in a research note on Monday, March 31st. Citigroup raised their price target on shares of Corteva from $75.00 to $78.00 and gave the company a “buy” rating in a report on Friday, May 9th. Royal Bank of Canada raised their target price on shares of Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Oppenheimer restated an “outperform” rating and set a $75.00 price objective (up previously from $72.00) on shares of Corteva in a report on Friday, May 9th. Finally, Bank of America increased their target price on Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $70.07.

Insider Buying and Selling

In other Corteva news, insider Brian Titus sold 26,560 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the completion of the transaction, the insider now directly owns 11,347 shares in the company, valued at $723,257.78. The trade was a 70.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.14% of the stock is currently owned by company insiders.

Corteva Price Performance

Shares of Corteva stock opened at $67.90 on Wednesday. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $46.38 billion, a price-to-earnings ratio of 52.64, a price-to-earnings-growth ratio of 1.68 and a beta of 0.72. Corteva, Inc. has a twelve month low of $50.01 and a twelve month high of $69.28. The company has a 50-day simple moving average of $61.14 and a two-hundred day simple moving average of $60.84.

Corteva (NYSE:CTVA) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.25. The company had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.56 billion. Corteva had a net margin of 5.36% and a return on equity of 7.19%. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.89 earnings per share. Analysts forecast that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 2nd will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date is Monday, June 2nd. Corteva’s dividend payout ratio (DPR) is presently 41.46%.

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.