Fjarde AP Fonden Fourth Swedish National Pension Fund Has $6.56 Million Position in Corteva, Inc. (NYSE:CTVA)

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in Corteva, Inc. (NYSE:CTVA) by 2,639.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 115,101 shares of the company’s stock after purchasing an additional 110,900 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Corteva were worth $6,556,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in CTVA. Allspring Global Investments Holdings LLC grew its position in shares of Corteva by 19.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 48,470 shares of the company’s stock valued at $2,850,000 after purchasing an additional 7,923 shares during the last quarter. Private Advisor Group LLC lifted its stake in shares of Corteva by 1.1% in the third quarter. Private Advisor Group LLC now owns 28,482 shares of the company’s stock valued at $1,674,000 after buying an additional 313 shares during the period. International Assets Investment Management LLC bought a new stake in shares of Corteva in the third quarter valued at about $8,239,000. Assenagon Asset Management S.A. lifted its stake in shares of Corteva by 288.3% in the third quarter. Assenagon Asset Management S.A. now owns 64,588 shares of the company’s stock valued at $3,797,000 after buying an additional 47,953 shares during the period. Finally, Allworth Financial LP lifted its stake in shares of Corteva by 5.3% in the third quarter. Allworth Financial LP now owns 11,676 shares of the company’s stock valued at $686,000 after buying an additional 591 shares during the period. 81.54% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CTVA has been the subject of several research reports. Barclays increased their target price on shares of Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. Wells Fargo & Company increased their target price on shares of Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. KeyCorp increased their target price on shares of Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. UBS Group reduced their target price on shares of Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Finally, Citigroup increased their target price on shares of Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $67.73.

Insiders Place Their Bets

In other news, insider Brian Titus sold 26,560 shares of Corteva stock in a transaction 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 transaction, the insider now directly owns 11,347 shares of the company’s stock, valued at $723,257.78. This trade represents a 70.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.14% of the company’s stock.

Corteva Stock Performance

NYSE CTVA opened at $62.59 on Tuesday. The firm has a market cap of $42.91 billion, a price-to-earnings ratio of 48.52, a PEG ratio of 1.68 and a beta of 0.78. The company has a 50 day moving average of $60.88 and a 200-day moving average of $59.01. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a 1-year low of $50.01 and a 1-year high of $66.24.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). Corteva had a net margin of 5.36% and a return on equity of 7.19%. On average, equities analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date is Monday, March 3rd. Corteva’s dividend payout ratio is presently 52.71%.

Corteva declared that its Board of Directors has authorized a share repurchase program on Tuesday, November 19th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 7.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

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.