Corteva, Inc. (NYSE:CTVA) Shares Acquired by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp grew its holdings in Corteva, Inc. (NYSE:CTVA) by 20.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,315 shares of the company’s stock after purchasing an additional 4,884 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Corteva were worth $1,670,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Van ECK Associates Corp grew its position in shares of Corteva by 5.9% in the fourth quarter. Van ECK Associates Corp now owns 9,428,206 shares of the company’s stock valued at $537,031,000 after purchasing an additional 525,531 shares during the last quarter. Swedbank AB grew its position in shares of Corteva by 51.9% in the fourth quarter. Swedbank AB now owns 695,641 shares of the company’s stock valued at $39,624,000 after purchasing an additional 237,764 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Corteva by 755.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 552,769 shares of the company’s stock valued at $31,486,000 after purchasing an additional 488,181 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Corteva by 6.7% in the third quarter. JPMorgan Chase & Co. now owns 4,605,608 shares of the company’s stock valued at $270,764,000 after purchasing an additional 288,885 shares during the last quarter. Finally, Allworth Financial LP grew its position in shares of Corteva by 17.3% in the fourth quarter. Allworth Financial LP now owns 13,699 shares of the company’s stock valued at $856,000 after purchasing an additional 2,023 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Corteva

In related 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 sale, the insider now owns 11,347 shares of the company’s stock, valued at $723,257.78. The trade was a 70.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CTVA. Argus upgraded shares of Corteva from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a research report on Monday, March 31st. KeyCorp raised their target price on shares of Corteva from $71.00 to $72.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. Barclays raised their target price on shares of Corteva from $64.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Citigroup raised their target price on shares of Corteva from $75.00 to $78.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Finally, Oppenheimer restated an “outperform” rating and set a $75.00 target price (up previously from $72.00) on shares of Corteva in a research report on Friday, May 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $70.50.

Corteva Stock Performance

NYSE:CTVA opened at $68.29 on Friday. The firm’s 50 day moving average is $61.44 and its two-hundred day moving average is $60.93. Corteva, Inc. has a fifty-two week low of $50.01 and a fifty-two week high of $69.28. 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 company has a market cap of $46.64 billion, a P/E ratio of 52.94, a P/E/G ratio of 1.68 and a beta of 0.72.

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

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 2nd will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.68 annualized dividend and a dividend yield of 1.00%. Corteva’s payout ratio is 41.46%.

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.