Glenview Trust Co Takes Position in Corteva, Inc. $CTVA

Glenview Trust Co bought a new position in shares of Corteva, Inc. (NYSE:CTVA) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 10,598 shares of the company’s stock, valued at approximately $898,000.

Several other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Corteva during the 2nd quarter worth $4,560,180,000. State Street Corp raised its stake in shares of Corteva by 3.7% in the 4th quarter. State Street Corp now owns 36,570,876 shares of the company’s stock valued at $2,451,346,000 after acquiring an additional 1,290,071 shares during the period. Franklin Resources Inc. boosted its position in shares of Corteva by 4.3% during the 4th quarter. Franklin Resources Inc. now owns 19,537,500 shares of the company’s stock worth $1,309,599,000 after purchasing an additional 805,873 shares during the period. Harris Associates L P raised its position in Corteva by 168.1% in the fourth quarter. Harris Associates L P now owns 17,026,221 shares of the company’s stock valued at $1,141,268,000 after purchasing an additional 10,675,052 shares during the period. Finally, Northern Trust Corp lifted its position 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 in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Trading Up 1.9%

Corteva stock opened at $84.00 on Friday. The stock has a market cap of $56.04 billion, a PE ratio of 55.63, a P/E/G ratio of 2.53 and a beta of 0.57. The company has a current ratio of 1.52, a quick ratio of 1.10 and a debt-to-equity ratio of 0.07. The stock has a 50-day moving average price of $82.69 and a 200 day moving average price of $80.54. Corteva, Inc. has a 52 week low of $60.53 and a 52 week high of $90.97.

Corteva (NYSE:CTVA) last released its earnings results on Thursday, July 30th. The company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.24 by $0.06. Corteva had a return on equity of 10.18% and a net margin of 5.66%.The firm had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.60 billion. During the same period in the prior year, the business posted $2.20 earnings per share. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. Corteva has set its FY 2026 guidance at 3.600-3.800 EPS. Equities research analysts predict that Corteva, Inc. will post 3.72 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Tuesday, September 1st. Corteva’s dividend payout ratio is currently 47.68%.

Analyst Ratings Changes

Several brokerages recently weighed in on CTVA. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $101.00 target price on shares of Corteva in a report on Monday, August 3rd. Citigroup raised their price objective on Corteva from $85.00 to $86.00 and gave the stock a “neutral” rating in a report on Monday, August 3rd. Weiss Ratings downgraded shares of Corteva from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, August 3rd. Barclays upped their price objective on Corteva from $84.00 to $91.00 and gave the company an “overweight” rating in a research note on Thursday, June 11th. Finally, Jefferies Financial Group raised their target price on shares of Corteva from $95.00 to $97.00 in a research note on Thursday, May 7th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Corteva has a consensus rating of “Moderate Buy” and a consensus price target of $91.50.

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.