Varma Mutual Pension Insurance Co Increases Stock Position in Corteva, Inc. $CTVA

Varma Mutual Pension Insurance Co increased its position in Corteva, Inc. (NYSE:CTVA) by 17.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 192,276 shares of the company’s stock after purchasing an additional 28,400 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in Corteva were worth $12,888,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Activest Wealth Management boosted its stake in shares of Corteva by 118.3% in the third quarter. Activest Wealth Management now owns 369 shares of the company’s stock valued at $25,000 after purchasing an additional 200 shares during the period. JPL Wealth Management LLC purchased a new position in shares of Corteva in the third quarter valued at $25,000. True Wealth Design LLC boosted its stake in shares of Corteva by 209.5% in the third quarter. True Wealth Design LLC now owns 390 shares of the company’s stock valued at $26,000 after purchasing an additional 264 shares during the period. Redmont Wealth Advisors LLC purchased a new position in shares of Corteva in the third quarter valued at $29,000. Finally, Jackson Grant Investment Advisers Inc. boosted its stake in shares of Corteva by 90.6% in the third quarter. Jackson Grant Investment Advisers Inc. now owns 448 shares of the company’s stock valued at $30,000 after purchasing an additional 213 shares during the period. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Corteva Trading Up 1.1%

NYSE CTVA opened at $81.74 on Tuesday. The company’s fifty day moving average price is $80.39 and its two-hundred day moving average price is $72.18. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.43 and a quick ratio of 0.96. Corteva, Inc. has a 12 month low of $60.53 and a 12 month high of $85.63. The company has a market capitalization of $54.87 billion, a price-to-earnings ratio of 51.73, a price-to-earnings-growth ratio of 2.77 and a beta of 0.59.

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Tuesday, February 3rd. The company reported $0.22 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.22. Corteva had a net margin of 6.29% and a return on equity of 9.06%. The company had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $4.23 billion. During the same period last year, the firm posted $0.32 EPS. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. As a group, research analysts predict that Corteva, Inc. will post 3.62 earnings per share for the current fiscal year.

Corteva Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Monday, June 1st. Corteva’s dividend payout ratio (DPR) is presently 45.57%.

Insider Activity

In other news, insider Brian Titus sold 8,311 shares of the firm’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $76.55, for a total value of $636,207.05. Following the transaction, the insider directly owned 8,090 shares in the company, valued at approximately $619,289.50. This trade represents a 50.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on CTVA. Citigroup increased their price objective on shares of Corteva from $74.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, February 5th. JPMorgan Chase & Co. downgraded shares of Corteva from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $75.00 to $77.00 in a research note on Thursday, February 5th. Jefferies Financial Group increased their price objective on shares of Corteva from $85.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Royal Bank Of Canada increased their price objective on shares of Corteva from $89.00 to $95.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Finally, The Goldman Sachs Group increased their price objective on shares of Corteva from $88.00 to $96.00 and gave the company a “buy” rating in a research note on Tuesday, April 14th. Fourteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.38.

About Corteva

Corteva, Inc (NYSE: CTVA) is an independent global agriculture company that was established as a publicly traded firm in mid‑2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva’s operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.

Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.