UniSuper Management Pty Ltd Decreases Position in Corteva, Inc. $CTVA

UniSuper Management Pty Ltd lessened its stake in Corteva, Inc. (NYSE:CTVA) by 3.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 225,404 shares of the company’s stock after selling 8,582 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Corteva were worth $15,244,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CTVA. Norges Bank purchased a new position in shares of Corteva during the 2nd quarter valued at $434,220,000. Pacer Advisors Inc. lifted its holdings in Corteva by 4,007.1% during the third quarter. Pacer Advisors Inc. now owns 2,442,177 shares of the company’s stock valued at $165,164,000 after purchasing an additional 2,382,715 shares during the last quarter. WCM Investment Management LLC boosted its position in Corteva by 29.6% during the second quarter. WCM Investment Management LLC now owns 9,044,706 shares of the company’s stock worth $672,836,000 after purchasing an additional 2,066,519 shares during the period. Marshall Wace LLP increased its stake in shares of Corteva by 1,365.9% in the second quarter. Marshall Wace LLP now owns 1,809,764 shares of the company’s stock worth $134,882,000 after purchasing an additional 1,686,309 shares in the last quarter. Finally, National Pension Service raised its position in shares of Corteva by 148.4% in the second quarter. National Pension Service now owns 2,454,601 shares of the company’s stock valued at $182,941,000 after purchasing an additional 1,466,268 shares during the period. 81.54% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on CTVA shares. Oppenheimer reaffirmed an “outperform” rating and issued a $76.00 price objective on shares of Corteva in a report on Friday, November 7th. Wells Fargo & Company cut their price target on Corteva from $80.00 to $77.00 and set an “overweight” rating for the company in a report on Tuesday, November 11th. Bank of America lifted their price target on Corteva from $80.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, January 8th. KeyCorp reissued a “sector weight” rating on shares of Corteva in a report on Friday, October 3rd. Finally, The Goldman Sachs Group lifted their target price on Corteva from $77.00 to $78.00 and gave the company a “buy” rating in a report on Tuesday, December 16th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $79.47.

Corteva Trading Up 0.2%

Corteva stock opened at $71.68 on Friday. The stock has a market cap of $48.44 billion, a P/E ratio of 30.63, a PEG ratio of 1.82 and a beta of 0.74. Corteva, Inc. has a fifty-two week low of $53.40 and a fifty-two week high of $77.41. The firm’s fifty day moving average price is $67.26 and its 200-day moving average price is $68.40. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.07 and a current ratio of 1.58.

Corteva (NYSE:CTVA) last posted its earnings results on Tuesday, November 4th. The company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.26. The business had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.47 billion. Corteva had a return on equity of 9.37% and a net margin of 9.19%.The firm’s revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.49) earnings per share. Equities research analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Monday, December 1st. Corteva’s dividend payout ratio is 30.77%.

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.