Corteva, Inc. (NYSE:CTVA) Shares Acquired by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA grew its stake in Corteva, Inc. (NYSE:CTVA) by 0.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 3,573,715 shares of the company’s stock after purchasing an additional 27,864 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Corteva were worth $150,382,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of CTVA. Pinnacle Bancorp Inc. acquired a new position in shares of Corteva in the 3rd quarter valued at about $26,000. Guidance Point Advisors LLC acquired a new position in shares of Corteva in the 3rd quarter valued at about $31,000. Evermay Wealth Management LLC acquired a new position in shares of Corteva in the 2nd quarter valued at about $46,000. SRS Capital Advisors Inc. lifted its holdings in shares of Corteva by 20.7% in the 3rd quarter. SRS Capital Advisors Inc. now owns 1,306 shares of the company’s stock valued at $55,000 after buying an additional 224 shares during the period. Finally, Koshinski Asset Management Inc. acquired a new position in shares of Corteva in the 3rd quarter valued at about $57,000. 78.32% of the stock is owned by institutional investors and hedge funds.

CTVA has been the subject of several analyst reports. KeyCorp boosted their price objective on Corteva from $53.00 to $55.00 and gave the company an “overweight” rating in a report on Friday, November 5th. Zacks Investment Research cut Corteva from a “buy” rating to a “hold” rating in a report on Wednesday. Morgan Stanley upped their price target on Corteva from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Monday, November 15th. They noted that the move was a valuation call. TheStreet raised Corteva from a “d+” rating to a “b” rating in a report on Wednesday, October 13th. Finally, Roth Capital started coverage on Corteva in a report on Friday, October 8th. They issued a “buy” rating and a $53.00 price target for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $51.29.

CTVA opened at $48.60 on Friday. Corteva, Inc. has a one year low of $36.54 and a one year high of $49.98. The stock has a market capitalization of $35.43 billion, a PE ratio of 22.09, a P/E/G ratio of 1.20 and a beta of 0.79. The business’s 50 day moving average price is $47.26 and its 200 day moving average price is $44.69. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.25 and a current ratio of 1.81.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Tuesday, November 2nd. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.17. Corteva had a return on equity of 6.24% and a net margin of 10.67%. The firm had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.02 billion. During the same period in the prior year, the firm posted ($0.39) earnings per share. As a group, equities research analysts forecast that Corteva, Inc. will post 2.14 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 15th. Shareholders of record on Friday, November 12th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date was Wednesday, November 10th. Corteva’s dividend payout ratio (DPR) is 25.45%.

In other Corteva news, Director Klaus A. Engel sold 4,000 shares of the company’s stock in a transaction on Wednesday, December 8th. The stock was sold at an average price of $47.12, for a total transaction of $188,480.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.19% of the stock is owned by corporate insiders.

About Corteva

Corteva, Inc operates as a holding company. It engages in the provision of agricultural products. The firm operates through the following segments: Seed and Crop Protection. The Seed segment develops and supplies germplasm and traits that produce optimum yield for farms. The Crop Protection segment serves the global agricultural input industry with products that protect against weeds, insects and other pests, and disease and that improve overall crop health both above and below ground via nitrogen management and seed-applied technologies.

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Institutional Ownership by Quarter for Corteva (NYSE:CTVA)

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