Lazard Asset Management LLC Has $46.51 Million Holdings in Corteva, Inc. $CTVA

Lazard Asset Management LLC trimmed its position in Corteva, Inc. (NYSE:CTVA) by 6.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 555,547 shares of the company’s stock after selling 36,218 shares during the period. Lazard Asset Management LLC owned 0.08% of Corteva worth $46,505,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Corteva by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 80,536,951 shares of the company’s stock worth $5,398,392,000 after acquiring an additional 317,538 shares during the last quarter. State Street Corp raised its position in Corteva by 3.7% in the fourth quarter. State Street Corp now owns 36,570,876 shares of the company’s stock valued at $2,451,346,000 after purchasing an additional 1,290,071 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Corteva by 4.3% during the fourth quarter. Franklin Resources Inc. now owns 19,537,500 shares of the company’s stock valued at $1,309,599,000 after purchasing an additional 805,873 shares in the last quarter. Harris Associates L P grew its holdings in shares of Corteva by 168.1% during the fourth quarter. Harris Associates L P now owns 17,026,221 shares of the company’s stock worth $1,141,268,000 after purchasing an additional 10,675,052 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Corteva by 5.0% during the fourth quarter. Northern Trust Corp now owns 11,731,834 shares of the company’s stock worth $786,385,000 after purchasing an additional 562,550 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. UBS Group dropped their price objective on shares of Corteva from $90.00 to $86.00 and set a “neutral” rating for the company in a report on Tuesday, June 9th. Royal Bank Of Canada boosted their target price on shares of Corteva from $97.00 to $103.00 and gave the stock an “outperform” rating in a report on Tuesday, July 21st. Oppenheimer raised their price target on shares of Corteva from $89.00 to $95.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Wells Fargo & Company lifted their price target on shares of Corteva from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Tuesday, April 21st. Finally, Mizuho boosted their price objective on shares of Corteva from $96.00 to $97.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $90.19.

Corteva Price Performance

Shares of NYSE CTVA opened at $87.67 on Tuesday. The company has a market capitalization of $58.64 billion, a PE ratio of 51.57, a P/E/G ratio of 2.70 and a beta of 0.56. The company has a quick ratio of 1.03, a current ratio of 1.47 and a debt-to-equity ratio of 0.07. Corteva, Inc. has a twelve month low of $60.53 and a twelve month high of $89.39. The firm has a fifty day simple moving average of $81.52 and a 200 day simple moving average of $79.12.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.32. Corteva had a net margin of 6.50% and a return on equity of 9.95%. The business had revenue of $4.91 billion for the quarter, compared to analysts’ expectations of $4.64 billion. During the same quarter in the prior year, the firm posted $1.13 earnings per share. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. On average, sell-side analysts forecast that Corteva, Inc. will post 3.76 EPS for the current year.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a dividend of $0.18 per share. The ex-dividend date is Tuesday, September 1st. This represents a $0.72 annualized dividend and a dividend yield of 0.8%. Corteva’s dividend payout ratio is presently 42.35%.

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.