Wesleyan Assurance Society Has $1.56 Million Stock Position in Corteva, Inc. $CTVA

Wesleyan Assurance Society lessened its stake in shares of Corteva, Inc. (NYSE:CTVA) by 24.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 23,000 shares of the company’s stock after selling 7,521 shares during the period. Wesleyan Assurance Society’s holdings in Corteva were worth $1,555,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Empirical Finance LLC lifted its stake in shares of Corteva by 0.6% in the 2nd quarter. Empirical Finance LLC now owns 24,935 shares of the company’s stock valued at $1,858,000 after acquiring an additional 153 shares during the last quarter. Fox Run Management L.L.C. grew its position in Corteva by 5.1% during the 3rd quarter. Fox Run Management L.L.C. now owns 3,361 shares of the company’s stock worth $227,000 after acquiring an additional 164 shares during the last quarter. IFG Advisory LLC increased its holdings in Corteva by 1.7% in the 3rd quarter. IFG Advisory LLC now owns 9,764 shares of the company’s stock worth $660,000 after purchasing an additional 166 shares in the last quarter. United Community Bank raised its position in Corteva by 10.5% in the third quarter. United Community Bank now owns 1,849 shares of the company’s stock valued at $125,000 after purchasing an additional 176 shares during the last quarter. Finally, Binnacle Investments Inc boosted its stake in shares of Corteva by 54.7% during the second quarter. Binnacle Investments Inc now owns 512 shares of the company’s stock valued at $38,000 after purchasing an additional 181 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Citigroup lifted their target price on shares of Corteva from $74.00 to $80.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Jefferies Financial Group boosted their price target on Corteva from $85.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Rothschild & Co Redburn reduced their price objective on shares of Corteva from $71.00 to $65.00 and set a “neutral” rating for the company in a research report on Tuesday, November 11th. BNP Paribas Exane increased their target price on shares of Corteva from $72.00 to $74.00 in a research note on Monday. Finally, Wolfe Research increased their price objective on shares of Corteva from $81.00 to $86.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $82.90.

Corteva Price Performance

Shares of NYSE:CTVA opened at $78.36 on Tuesday. The stock’s fifty day simple moving average is $73.22 and its two-hundred day simple moving average is $69.04. The stock has a market cap of $52.70 billion, a PE ratio of 49.59, a price-to-earnings-growth ratio of 2.63 and a beta of 0.72. The company has a current ratio of 1.43, a quick ratio of 0.96 and a debt-to-equity ratio of 0.07. Corteva, Inc. has a 1-year low of $53.40 and a 1-year high of $80.90.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Tuesday, February 3rd. The company reported $0.22 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.22. Corteva had a net margin of 6.29% and a return on equity of 9.06%. The business had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $4.23 billion. During the same period in the prior year, the firm posted $0.32 EPS. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. As a group, analysts forecast that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, March 2nd. Corteva’s payout ratio is 45.57%.

Insiders Place Their Bets

In related news, insider Brian Titus sold 8,311 shares of the firm’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $76.55, for a total transaction of $636,207.05. Following the completion of the sale, the insider owned 8,090 shares in the company, valued at approximately $619,289.50. This trade represents a 50.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.15% of the company’s stock.

About Corteva

Corteva, Inc (NYSE: CTVA) is an independent global agriculture company that was established as a publicly traded firm in mid?2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva’s operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.

Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.