Strs Ohio Lowers Holdings in Corteva, Inc. $CTVA

Strs Ohio trimmed its position in Corteva, Inc. (NYSE:CTVA) by 9.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 307,488 shares of the company’s stock after selling 31,871 shares during the period. Strs Ohio’s holdings in Corteva were worth $20,611,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CTVA. Composition Wealth LLC lifted its holdings in Corteva by 17.9% in the fourth quarter. Composition Wealth LLC now owns 14,010 shares of the company’s stock valued at $939,000 after acquiring an additional 2,130 shares during the period. PFA Pension Forsikringsaktieselskab acquired a new stake in Corteva in the fourth quarter valued at $77,343,000. Robertson Stephens Wealth Management LLC acquired a new stake in Corteva in the fourth quarter valued at $205,000. Summit Place Financial Advisors LLC lifted its holdings in Corteva by 13.2% in the fourth quarter. Summit Place Financial Advisors LLC now owns 50,163 shares of the company’s stock valued at $3,362,000 after acquiring an additional 5,855 shares during the period. Finally, Fifth Third Bancorp lifted its holdings in Corteva by 14.7% in the fourth quarter. Fifth Third Bancorp now owns 178,392 shares of the company’s stock valued at $11,958,000 after acquiring an additional 22,805 shares during the period. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Brian Titus sold 8,311 shares of the business’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $76.55, for a total value of $636,207.05. Following the completion of the transaction, the insider owned 8,090 shares of the company’s stock, valued at approximately $619,289.50. The trade was a 50.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on CTVA. Wolfe Research raised their target price on Corteva from $81.00 to $86.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. Zacks Research downgraded Corteva from a “strong-buy” rating to a “hold” rating in a report on Friday, February 20th. Citigroup raised their target price on Corteva from $74.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, February 5th. Wall Street Zen downgraded Corteva from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Finally, Wells Fargo & Company raised their target price on Corteva from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Tuesday, April 21st. Fourteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, Corteva currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.38.

Corteva Trading Up 0.1%

NYSE:CTVA opened at $80.97 on Monday. The company has a market capitalization of $54.36 billion, a PE ratio of 51.24, a price-to-earnings-growth ratio of 2.77 and a beta of 0.59. The company has a quick ratio of 0.96, a current ratio of 1.43 and a debt-to-equity ratio of 0.07. Corteva, Inc. has a 52-week low of $60.53 and a 52-week high of $85.63. The stock has a fifty day simple moving average of $80.39 and a 200-day simple moving average of $72.18.

Corteva (NYSE:CTVA) last announced its earnings results on Tuesday, February 3rd. The company reported $0.22 earnings per share for the quarter, meeting the consensus estimate of $0.22. Corteva had a net margin of 6.29% and a return on equity of 9.06%. The firm had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $4.23 billion. During the same quarter in the previous year, the company posted $0.32 EPS. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. On average, equities research analysts expect that Corteva, Inc. will post 3.62 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be paid a $0.18 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.72 annualized dividend and a yield of 0.9%. Corteva’s payout ratio is presently 45.57%.

Corteva Profile

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.