Royal Bank of Canada Has $170.10 Million Holdings in Corteva, Inc. (NYSE:CTVA)

Royal Bank of Canada grew its position in Corteva, Inc. (NYSE:CTVA) by 13.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,986,315 shares of the company’s stock after purchasing an additional 348,585 shares during the quarter. Royal Bank of Canada owned about 0.43% of Corteva worth $170,101,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in CTVA. Flagship Wealth Advisors LLC acquired a new position in shares of Corteva during the 4th quarter worth approximately $25,000. Noble Wealth Management PBC acquired a new stake in Corteva during the fourth quarter worth approximately $26,000. Hager Investment Management Services LLC bought a new position in Corteva during the 4th quarter worth $27,000. LGT Financial Advisors LLC acquired a new position in Corteva in the 4th quarter valued at $31,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of Corteva during the 4th quarter valued at $32,000. Institutional investors own 81.54% of the company’s stock.

Corteva Stock Up 0.4%

Shares of NYSE CTVA opened at $68.58 on Monday. The company has a 50 day simple moving average of $61.61 and a 200 day simple moving average of $60.98. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. Corteva, Inc. has a 1 year low of $50.01 and a 1 year high of $69.28. The firm has a market cap of $46.78 billion, a PE ratio of 53.16, a price-to-earnings-growth ratio of 1.68 and a beta of 0.72.

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

Corteva Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 2nd will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend is Monday, June 2nd. Corteva’s payout ratio is presently 41.46%.

Insider Buying and Selling at Corteva

In other news, insider Brian Titus sold 26,560 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the completion of the transaction, the insider now directly owns 11,347 shares in the company, valued at $723,257.78. This trade represents a 70.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CTVA. UBS Group raised their price target on Corteva from $74.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. BNP Paribas upgraded shares of Corteva to a “hold” rating in a research note on Monday, February 10th. Barclays boosted their target price on shares of Corteva from $64.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 14th. Bank of America increased their price target on shares of Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Finally, Argus raised shares of Corteva from a “hold” rating to a “buy” rating and set a $69.00 price objective on the stock in a research note on Monday, March 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $70.50.

About Corteva

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.