Varma Mutual Pension Insurance Co Invests $15.70 Million in Corteva, Inc. $CTVA

Varma Mutual Pension Insurance Co bought a new position in Corteva, Inc. (NYSE:CTVA) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 185,376 shares of the company’s stock, valued at approximately $15,699,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPL Wealth Management LLC bought a new stake in Corteva in the 3rd quarter worth approximately $25,000. Garton & Associates Financial Advisors LLC bought a new position in shares of Corteva during the 4th quarter valued at approximately $27,000. Bank of Jackson Hole Trust bought a new position in shares of Corteva during the 4th quarter valued at approximately $28,000. Cornerstone Financial Management LLC purchased a new position in shares of Corteva in the fourth quarter valued at $29,000. Finally, Elevation Wealth Partners LLC grew its holdings in shares of Corteva by 334.6% in the second quarter. Elevation Wealth Partners LLC now owns 339 shares of the company’s stock valued at $29,000 after purchasing an additional 261 shares in the last quarter. 81.54% of the stock is owned by institutional investors.

Corteva Price Performance

Shares of CTVA stock opened at $81.84 on Monday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.52 and a quick ratio of 1.10. The company has a market capitalization of $54.60 billion, a P/E ratio of 54.20, a P/E/G ratio of 2.51 and a beta of 0.57. The company’s 50-day simple moving average is $82.13 and its two-hundred day simple moving average is $80.26. Corteva, Inc. has a one year low of $60.53 and a one year high of $90.97.

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

Corteva Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.18 per share. 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 47.68%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CTVA shares. BMO Capital Markets upped their price target on shares of Corteva from $95.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Royal Bank Of Canada lifted their price objective on shares of Corteva from $97.00 to $103.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 21st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $101.00 target price on shares of Corteva in a research note on Monday, August 3rd. Zacks Research cut shares of Corteva from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Finally, Morgan Stanley increased their price objective on shares of Corteva from $84.00 to $95.00 and gave the stock an “overweight” rating in a research report on Thursday, May 28th. Fourteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $91.50.

Corteva Company 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.