Nordea Investment Management AB Boosts Holdings in Corteva, Inc. $CTVA

Nordea Investment Management AB increased its holdings in Corteva, Inc. (NYSE:CTVA) by 1.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,414 shares of the company’s stock after purchasing an additional 1,124 shares during the period. Nordea Investment Management AB’s holdings in Corteva were worth $4,416,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in CTVA. Nuveen LLC purchased a new position in Corteva in the 1st quarter worth approximately $640,333,000. WCM Investment Management LLC raised its holdings in shares of Corteva by 29.6% during the 2nd quarter. WCM Investment Management LLC now owns 9,044,706 shares of the company’s stock worth $672,836,000 after acquiring an additional 2,066,519 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Corteva by 4,769.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,924,419 shares of the company’s stock worth $143,427,000 after acquiring an additional 1,884,897 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Corteva by 54.6% during the 1st quarter. JPMorgan Chase & Co. now owns 5,009,038 shares of the company’s stock worth $315,219,000 after acquiring an additional 1,769,355 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Corteva by 65.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,251,449 shares of the company’s stock worth $204,615,000 after acquiring an additional 1,290,009 shares in the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CTVA has been the topic of several recent research reports. Morgan Stanley set a $84.00 price objective on Corteva in a report on Monday, September 15th. Deutsche Bank Aktiengesellschaft upped their price objective on Corteva from $83.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, September 15th. Royal Bank Of Canada decreased their price objective on Corteva from $86.00 to $80.00 and set an “outperform” rating on the stock in a report on Friday, October 17th. Zacks Research raised Corteva from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 1st. Finally, Weiss Ratings downgraded Corteva from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $80.31.

Corteva Stock Performance

NYSE CTVA opened at $61.93 on Wednesday. The company has a market cap of $42.05 billion, a P/E ratio of 30.21, a P/E/G ratio of 1.42 and a beta of 0.76. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.23 and a current ratio of 1.68. The business’s 50 day moving average price is $69.04 and its 200-day moving average price is $68.97. Corteva, Inc. has a fifty-two week low of $53.40 and a fifty-two week high of $77.41.

Corteva (NYSE:CTVA) last released its earnings results on Wednesday, August 6th. The company reported $2.20 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.31. The firm had revenue of $6.46 billion for the quarter, compared to the consensus estimate of $6.26 billion. Corteva had a return on equity of 8.68% and a net margin of 8.16%.The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.83 EPS. Sell-side analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were given a $0.18 dividend. This is a boost from Corteva’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $0.72 annualized dividend and a yield of 1.2%. Corteva’s dividend payout ratio is currently 35.12%.

Insider Buying and Selling

In other Corteva news, EVP Robert D. King sold 37,280 shares of the company’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $74.20, for a total value of $2,766,176.00. Following the transaction, the executive vice president owned 49,262 shares of the company’s stock, valued at $3,655,240.40. This represents a 43.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.15% of the stock is owned by company insiders.

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.