Corteva, Inc. (NYSE:CTVA) Shares Acquired by Czech National Bank

Czech National Bank lifted its position in Corteva, Inc. (NYSE:CTVA) by 6.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 141,018 shares of the company’s stock after acquiring an additional 8,202 shares during the period. Czech National Bank’s holdings in Corteva were worth $8,290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in CTVA. Cohen & Steers Inc. grew its position in Corteva by 4.1% in the fourth quarter. Cohen & Steers Inc. now owns 236,922 shares of the company’s stock worth $11,353,000 after acquiring an additional 9,322 shares during the period. Harris Associates L P grew its holdings in shares of Corteva by 87.1% during the 4th quarter. Harris Associates L P now owns 9,011,702 shares of the company’s stock worth $431,841,000 after purchasing an additional 4,194,981 shares during the period. Goehring & Rozencwajg Associates LLC increased its position in shares of Corteva by 3.2% during the 4th quarter. Goehring & Rozencwajg Associates LLC now owns 74,685 shares of the company’s stock worth $3,579,000 after purchasing an additional 2,330 shares during the last quarter. Glenview Capital Management LLC raised its holdings in Corteva by 116.6% in the 4th quarter. Glenview Capital Management LLC now owns 4,698,725 shares of the company’s stock valued at $225,163,000 after buying an additional 2,529,539 shares during the period. Finally, Studio Investment Management LLC lifted its position in Corteva by 6.0% in the fourth quarter. Studio Investment Management LLC now owns 38,474 shares of the company’s stock valued at $1,844,000 after buying an additional 2,182 shares during the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Corteva Stock Performance

NYSE CTVA opened at $56.55 on Friday. The company has a fifty day moving average of $55.46 and a two-hundred day moving average of $55.03. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.72 and a quick ratio of 1.17. Corteva, Inc. has a 1 year low of $43.22 and a 1 year high of $59.08. The company has a market capitalization of $39.41 billion, a PE ratio of 71.48, a P/E/G ratio of 1.68 and a beta of 0.77.

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

Corteva Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.17 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.20%. This is a boost from Corteva’s previous quarterly dividend of $0.16. Corteva’s dividend payout ratio is currently 86.08%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Mizuho decreased their price objective on shares of Corteva from $61.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, June 18th. Wells Fargo & Company lowered their price target on Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. KeyCorp dropped their price objective on Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Morgan Stanley reissued an “overweight” rating and set a $65.00 target price on shares of Corteva in a research note on Tuesday, September 24th. Finally, JPMorgan Chase & Co. dropped their target price on Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Corteva currently has an average rating of “Moderate Buy” and an average price target of $61.94.

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.