Corteva, Inc. (NYSE:CTVA) Shares Purchased by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. increased its position in shares of Corteva, Inc. (NYSE:CTVA) by 2.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 284,544 shares of the company’s stock after purchasing an additional 6,092 shares during the period. Royal London Asset Management Ltd.’s holdings in Corteva were worth $15,348,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Redmont Wealth Advisors LLC acquired a new position in Corteva in the first quarter valued at $25,000. Acadian Asset Management LLC acquired a new stake in shares of Corteva during the first quarter worth about $25,000. Rise Advisors LLC boosted its stake in shares of Corteva by 2,522.2% during the first quarter. Rise Advisors LLC now owns 472 shares of the company’s stock worth $27,000 after buying an additional 454 shares during the period. ICA Group Wealth Management LLC acquired a new stake in shares of Corteva during the fourth quarter worth about $28,000. Finally, Scarborough Advisors LLC acquired a new stake in shares of Corteva during the fourth quarter worth about $29,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CTVA. KeyCorp decreased their target price on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Wells Fargo & Company decreased their target price on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Mizuho decreased their target price on shares of Corteva from $61.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, June 18th. JPMorgan Chase & Co. cut their price target on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, OTR Global reissued a “negative” rating on shares of Corteva in a report on Friday, June 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $61.67.

Corteva Trading Up 1.0 %

Shares of CTVA opened at $55.69 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.72 and a quick ratio of 1.17. The firm has a 50 day simple moving average of $54.04 and a 200-day simple moving average of $54.63. Corteva, Inc. has a 1-year low of $43.22 and a 1-year high of $58.76. The stock has a market cap of $38.81 billion, a price-to-earnings ratio of 70.49, a price-to-earnings-growth ratio of 1.59 and a beta of 0.77.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.09. Corteva had a net margin of 5.31% and a return on equity of 7.30%. The business had revenue of $6.11 billion during the quarter, compared to analysts’ expectations of $6.15 billion. During the same period last year, the company posted $1.60 EPS. The company’s revenue was up 1.1% on a year-over-year basis. Equities analysts forecast that Corteva, Inc. will post 2.72 EPS for the current fiscal year.

Corteva Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.22%. This is a boost from Corteva’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Tuesday, September 3rd. Corteva’s dividend payout ratio (DPR) is 86.08%.

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.