14,798 Shares in Corteva, Inc. $CTVA Bought by NewEdge Wealth LLC

NewEdge Wealth LLC purchased a new stake in shares of Corteva, Inc. (NYSE:CTVA) in the second quarter, HoldingsChannel reports. The institutional investor purchased 14,798 shares of the company’s stock, valued at approximately $1,253,000.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Corteva by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 80,536,951 shares of the company’s stock worth $5,398,392,000 after purchasing an additional 317,538 shares in the last quarter. BlackRock Inc. bought a new position in shares of Corteva in the second quarter worth approximately $4,560,180,000. State Street Corp increased its position in shares of 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 acquiring an additional 1,290,071 shares during the period. Franklin Resources Inc. increased its holdings in Corteva by 4.3% during the 4th 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 during the period. Finally, Harris Associates L P increased its stake 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 valued at $1,141,268,000 after buying an additional 10,675,052 shares during the period. 81.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Mizuho increased their price target 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. UBS Group dropped their price target on shares of Corteva from $89.00 to $85.00 and set a “neutral” rating on the stock in a research note on Tuesday. Citigroup increased their target price on Corteva from $85.00 to $86.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. BMO Capital Markets raised their price target on shares of Corteva from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Finally, Zacks Research downgraded Corteva from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, Corteva currently has an average rating of “Moderate Buy” and an average target price of $91.50.

Corteva Trading Up 3.0%

Shares of CTVA stock opened at $81.84 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.10 and a current ratio of 1.52. Corteva, Inc. has a 52-week low of $60.53 and a 52-week high of $90.97. The stock has a fifty day simple moving average of $82.13 and a two-hundred day simple moving average of $80.21. The firm has a market capitalization of $54.60 billion, a PE ratio of 54.20, a PEG ratio of 2.44 and a beta of 0.57.

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

Corteva Dividend Announcement

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

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.