Nisa Investment Advisors LLC Acquires 845 Shares of Corteva, Inc. (NYSE:CTVA)

Nisa Investment Advisors LLC raised its holdings in Corteva, Inc. (NYSE:CTVA) by 0.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 220,134 shares of the company’s stock after buying an additional 845 shares during the period. Nisa Investment Advisors LLC’s holdings in Corteva were worth $12,942,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in CTVA. Anomaly Capital Management LP bought a new position in shares of Corteva in the second quarter valued at $188,578,000. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Corteva by 392.3% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 4,083,685 shares of the company’s stock valued at $220,274,000 after buying an additional 3,254,126 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Corteva by 28.4% in the second quarter. Bank of New York Mellon Corp now owns 6,842,907 shares of the company’s stock valued at $369,106,000 after buying an additional 1,514,954 shares in the last quarter. Panagora Asset Management Inc. lifted its stake in shares of Corteva by 700.2% in the second quarter. Panagora Asset Management Inc. now owns 1,301,996 shares of the company’s stock valued at $70,230,000 after buying an additional 1,139,297 shares in the last quarter. Finally, Natixis Advisors LLC lifted its stake in shares of Corteva by 155.7% in the second quarter. Natixis Advisors LLC now owns 1,694,214 shares of the company’s stock valued at $91,389,000 after buying an additional 1,031,678 shares in the last quarter. 81.54% of the stock is owned by institutional investors.

Corteva Price Performance

CTVA opened at $60.80 on Wednesday. The company has a market capitalization of $42.38 billion, a price-to-earnings ratio of 76.96, a PEG ratio of 1.66 and a beta of 0.77. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.10. The firm has a 50-day moving average price of $57.41 and a 200-day moving average price of $55.24. Corteva, Inc. has a twelve month low of $43.22 and a twelve month high of $61.38.

Corteva (NYSE:CTVA) last posted its earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.09. Corteva had a net margin of 5.31% and a return on equity of 7.30%. The firm had revenue of $6.11 billion during the quarter, compared to the consensus estimate of $6.15 billion. During the same quarter last year, the company earned $1.60 earnings per share. The company’s revenue was up 1.1% on a year-over-year basis. Equities analysts expect that Corteva, Inc. will post 2.66 EPS for the current year.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.12%. Corteva’s dividend payout ratio (DPR) is currently 86.08%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CTVA. Morgan Stanley reiterated an “overweight” rating and issued a $65.00 target price on shares of Corteva in a report on Tuesday, September 24th. Citigroup began coverage on shares of Corteva in a report on Wednesday, October 23rd. They issued a “buy” rating and a $68.00 target price for the company. Wells Fargo & Company lowered their target price on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. JPMorgan Chase & Co. lowered their target price 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, Bank of America upgraded shares of Corteva from a “neutral” rating to a “buy” rating and increased their target price for the company from $59.00 to $67.00 in a report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Corteva currently has an average rating of “Moderate Buy” and a consensus target price of $62.84.

Corteva 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.