Nomura Asset Management Co. Ltd. Has $24.56 Million Stock Holdings in Corteva, Inc. $CTVA

Nomura Asset Management Co. Ltd. reduced its stake in shares of Corteva, Inc. (NYSE:CTVA) by 10.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 329,531 shares of the company’s stock after selling 39,884 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Corteva were worth $24,560,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Gladwyn Financial Advisors Inc. bought a new stake in Corteva during the second quarter worth about $25,000. Curat Global LLC increased its holdings in Corteva by 93.7% in the 2nd quarter. Curat Global LLC now owns 370 shares of the company’s stock valued at $28,000 after buying an additional 179 shares during the period. Maryland Capital Advisors Inc. acquired a new position in shares of Corteva in the 2nd quarter valued at approximately $29,000. Princeton Global Asset Management LLC lifted its holdings in shares of Corteva by 61.5% during the 2nd quarter. Princeton Global Asset Management LLC now owns 525 shares of the company’s stock worth $39,000 after acquiring an additional 200 shares during the period. Finally, DHJJ Financial Advisors Ltd. lifted its holdings in shares of Corteva by 132.2% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 527 shares of the company’s stock worth $39,000 after acquiring an additional 300 shares during the period. Institutional investors own 81.54% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on CTVA. The Goldman Sachs Group decreased their price objective on shares of Corteva from $85.00 to $77.00 and set a “buy” rating on the stock in a research note on Wednesday, October 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Corteva in a research note on Thursday, November 13th. Oppenheimer reissued an “outperform” rating and set a $76.00 price target on shares of Corteva in a report on Friday, November 7th. Rothschild & Co Redburn dropped their price objective on Corteva from $71.00 to $65.00 and set a “neutral” rating for the company in a research report on Tuesday, November 11th. Finally, Barclays upgraded Corteva from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $75.00 to $84.00 in a research report on Wednesday, August 13th. Fifteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Corteva has an average rating of “Moderate Buy” and a consensus price target of $78.39.

Insider Buying and Selling

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

Corteva Trading Up 1.0%

NYSE CTVA opened at $64.55 on Wednesday. The company has a market cap of $43.62 billion, a price-to-earnings ratio of 27.58, a price-to-earnings-growth ratio of 1.46 and a beta of 0.81. Corteva, Inc. has a twelve month low of $53.40 and a twelve month high of $77.41. The company has a quick ratio of 1.07, a current ratio of 1.58 and a debt-to-equity ratio of 0.07. The business’s fifty day moving average is $65.36 and its 200 day moving average is $69.68.

Corteva (NYSE:CTVA) last issued its earnings results on Tuesday, November 4th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.26. The business had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.47 billion. Corteva had a return on equity of 9.37% and a net margin of 9.19%.The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.49) EPS. As a group, sell-side analysts expect that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Monday, December 1st. Corteva’s dividend payout ratio (DPR) is 30.77%.

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.