Fifth Third Bancorp Increases Position in Corteva, Inc. $CTVA

Fifth Third Bancorp lifted its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 4.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 155,587 shares of the company’s stock after acquiring an additional 6,687 shares during the quarter. Fifth Third Bancorp’s holdings in Corteva were worth $10,522,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CTVA. Pallas Capital Advisors LLC grew its position in Corteva by 5.3% during the third quarter. Pallas Capital Advisors LLC now owns 74,923 shares of the company’s stock valued at $5,067,000 after buying an additional 3,774 shares during the period. State of New Jersey Common Pension Fund D grew its stake in Corteva by 2.8% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 235,633 shares of the company’s stock valued at $15,936,000 after buying an additional 6,339 shares in the last quarter. HighTower Advisors LLC grew its position in shares of Corteva by 8.6% in the third quarter. HighTower Advisors LLC now owns 182,643 shares of the company’s stock valued at $12,352,000 after purchasing an additional 14,436 shares in the last quarter. Aberdeen Group plc increased its position in shares of Corteva by 3.9% during the third quarter. Aberdeen Group plc now owns 525,044 shares of the company’s stock valued at $35,401,000 after buying an additional 19,758 shares during the period. Finally, Metis Global Partners LLC increased its holdings in Corteva by 20.7% during the 3rd quarter. Metis Global Partners LLC now owns 107,570 shares of the company’s stock worth $7,275,000 after acquiring an additional 18,484 shares during the period. Institutional investors own 81.54% of the company’s stock.

Corteva Stock Performance

Shares of CTVA opened at $75.40 on Wednesday. The business has a fifty day moving average of $70.06 and a 200 day moving average of $68.46. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.43 and a quick ratio of 0.96. The firm has a market capitalization of $50.71 billion, a P/E ratio of 47.72, a PEG ratio of 2.56 and a beta of 0.75. Corteva, Inc. has a one year low of $53.40 and a one year high of $77.41.

Corteva (NYSE:CTVA) last released its quarterly earnings results on Tuesday, February 3rd. The company reported $0.22 earnings per share for the quarter, hitting the consensus estimate of $0.22. The business had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $4.23 billion. Corteva had a net margin of 6.29% and a return on equity of 9.06%. The company’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period last year, the firm earned $0.32 earnings per share. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. As a group, sell-side analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $0.72 dividend on an annualized basis and a yield of 1.0%. Corteva’s dividend payout ratio is presently 45.57%.

Wall Street Analyst Weigh In

CTVA has been the topic of several recent analyst reports. Wolfe Research raised their price target on Corteva from $81.00 to $86.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. Bank of America increased their price objective on Corteva from $80.00 to $82.00 and gave the company a “buy” rating in a research note on Thursday, January 8th. Weiss Ratings restated a “hold (c-)” rating on shares of Corteva in a report on Monday, December 29th. Wall Street Zen lowered shares of Corteva from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Finally, Zacks Research upgraded Corteva from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, Corteva presently has a consensus rating of “Moderate Buy” and an average price target of $82.30.

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.