Mitsubishi UFJ Trust & Banking Corp Purchases 105,052 Shares of Corteva, Inc. $CTVA

Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Corteva, Inc. (NYSE:CTVA) by 34.6% in the 3rd quarter, Holdings Channel reports. The fund owned 408,242 shares of the company’s stock after buying an additional 105,052 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Corteva were worth $27,609,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Corteva by 0.5% during the second quarter. Vanguard Group Inc. now owns 80,188,326 shares of the company’s stock valued at $5,976,436,000 after purchasing an additional 373,680 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Corteva by 1.4% in the second quarter. Geode Capital Management LLC now owns 18,047,263 shares of the company’s stock valued at $1,339,651,000 after purchasing an additional 251,693 shares during the period. Franklin Resources Inc. lifted its stake in shares of Corteva by 4.9% during the 2nd quarter. Franklin Resources Inc. now owns 17,680,238 shares of the company’s stock valued at $1,317,708,000 after buying an additional 824,451 shares in the last quarter. WCM Investment Management LLC boosted its holdings in Corteva by 29.6% in the 2nd quarter. WCM Investment Management LLC now owns 9,044,706 shares of the company’s stock worth $672,836,000 after buying an additional 2,066,519 shares during the period. Finally, Norges Bank purchased a new position in Corteva in the 2nd quarter valued at approximately $434,220,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Price Performance

Corteva stock opened at $71.68 on Monday. The stock has a market cap of $48.44 billion, a price-to-earnings ratio of 30.63, a PEG ratio of 1.82 and a beta of 0.74. The company has a quick ratio of 1.07, a current ratio of 1.58 and a debt-to-equity ratio of 0.07. The business has a 50-day simple moving average of $67.26 and a 200 day simple moving average of $68.35. Corteva, Inc. has a 52 week low of $53.40 and a 52 week high of $77.41.

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

Corteva Announces Dividend

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

Analyst Upgrades and Downgrades

CTVA has been the topic of several recent research reports. Citigroup increased their target price on Corteva from $70.00 to $74.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 21st. Royal Bank Of Canada reduced their price target on Corteva from $86.00 to $80.00 and set an “outperform” rating for the company in a research report on Friday, October 17th. Deutsche Bank Aktiengesellschaft dropped their price objective on Corteva from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday, November 6th. BNP Paribas Exane raised their target price on Corteva from $70.00 to $72.00 and gave the stock a “neutral” rating in a research note on Monday, November 17th. Finally, Bank of America upped 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. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Corteva has an average rating of “Moderate Buy” and an average price target of $79.47.

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.