Citizens Financial Group Inc. RI Has $816,000 Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Citizens Financial Group Inc. RI grew its holdings in Corteva, Inc. (NYSE:CTVA) by 66.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 15,132 shares of the company’s stock after purchasing an additional 6,064 shares during the period. Citizens Financial Group Inc. RI’s holdings in Corteva were worth $816,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CTVA. Capital International Investors raised its stake in Corteva by 2.6% during the first quarter. Capital International Investors now owns 26,437,457 shares of the company’s stock worth $1,524,648,000 after acquiring an additional 678,722 shares in the last quarter. Northern Trust Corp lifted its stake in Corteva by 2.5% in the 4th quarter. Northern Trust Corp now owns 12,815,795 shares of the company’s stock valued at $614,133,000 after purchasing an additional 310,012 shares during the last quarter. Van ECK Associates Corp boosted its position in Corteva by 7.2% in the first quarter. Van ECK Associates Corp now owns 9,145,282 shares of the company’s stock valued at $527,409,000 after buying an additional 617,030 shares in the last quarter. Harris Associates L P grew its stake in shares of Corteva by 87.1% during the fourth quarter. Harris Associates L P now owns 9,011,702 shares of the company’s stock worth $431,841,000 after buying an additional 4,194,981 shares during the last quarter. Finally, Putnam Investments LLC lifted its stake in shares of Corteva by 12.9% in the 4th quarter. Putnam Investments LLC now owns 8,950,382 shares of the company’s stock valued at $428,902,000 after acquiring an additional 1,021,733 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Stock Performance

NYSE:CTVA opened at $57.04 on Wednesday. The firm has a market capitalization of $39.76 billion, a P/E ratio of 72.20, a P/E/G ratio of 1.60 and a beta of 0.77. Corteva, Inc. has a twelve month low of $43.22 and a twelve month high of $58.76. The company has a fifty day moving average of $54.34 and a 200-day moving average of $54.69. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.10.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.09. The firm had revenue of $6.11 billion for the quarter, compared to analyst estimates of $6.15 billion. Corteva had a net margin of 5.31% and a return on equity of 7.30%. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.60 earnings per share. As a group, sell-side analysts anticipate that Corteva, Inc. will post 2.69 EPS for the current year.

Corteva Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a $0.17 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $0.68 annualized dividend and a yield of 1.19%. This is a positive change from Corteva’s previous quarterly dividend of $0.16. Corteva’s dividend payout ratio is presently 86.08%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $65.00 price objective on shares of Corteva in a research report on Wednesday, June 12th. Mizuho lowered their price objective on Corteva from $61.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, June 18th. Argus downgraded shares of Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. dropped their price target on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, OTR Global reiterated 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 issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $61.67.

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.