Ninety One UK Ltd Lowers Stake in Corteva, Inc. (NYSE:CTVA)

Ninety One UK Ltd cut its position in shares of Corteva, Inc. (NYSE:CTVA) by 9.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 140,278 shares of the company’s stock after selling 14,968 shares during the quarter. Ninety One UK Ltd’s holdings in Corteva were worth $6,722,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CTVA. Moneta Group Investment Advisors LLC grew its holdings in shares of Corteva by 110,628.9% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 7,904,934 shares of the company’s stock worth $464,652,000 after buying an additional 7,897,795 shares in the last quarter. Norges Bank purchased a new stake in shares of Corteva during the fourth quarter worth about $328,936,000. Harris Associates L P purchased a new stake in shares of Corteva during the third quarter worth about $246,423,000. Van ECK Associates Corp grew its holdings in shares of Corteva by 78.7% during the third quarter. Van ECK Associates Corp now owns 7,645,091 shares of the company’s stock worth $391,123,000 after buying an additional 3,366,106 shares in the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of Corteva by 283.5% during the second quarter. Wells Fargo & Company MN now owns 4,482,718 shares of the company’s stock worth $256,860,000 after buying an additional 3,313,768 shares in the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Corteva Trading Up 0.8 %

NYSE CTVA opened at $53.96 on Friday. The company’s fifty day simple moving average is $55.20 and its 200-day simple moving average is $50.26. Corteva, Inc. has a 52 week low of $43.22 and a 52 week high of $62.97. The company has a current ratio of 1.56, a quick ratio of 0.90 and a debt-to-equity ratio of 0.09. The stock has a market cap of $37.71 billion, a P/E ratio of 52.90, a PEG ratio of 1.40 and a beta of 0.77.

Corteva (NYSE:CTVA) last posted its earnings results on Thursday, February 1st. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.09. Corteva had a net margin of 4.27% and a return on equity of 7.43%. The business had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $3.54 billion. During the same period in the previous year, the company posted $0.16 earnings per share. Equities research analysts predict that Corteva, Inc. will post 2.84 EPS for the current fiscal year.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a $0.16 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.19%. Corteva’s dividend payout ratio (DPR) is presently 62.75%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Oppenheimer raised their target price on shares of Corteva from $62.00 to $67.00 and gave the stock an “outperform” rating in a research report on Tuesday. Mizuho decreased their target price on shares of Corteva from $59.00 to $56.00 and set a “buy” rating on the stock in a research report on Thursday, February 1st. KeyCorp raised their target price on shares of Corteva from $63.00 to $66.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. UBS Group decreased their target price on shares of Corteva from $65.00 to $64.00 and set a “buy” rating on the stock in a research report on Thursday, January 11th. Finally, Wells Fargo & Company raised their target price on shares of Corteva from $54.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, Corteva currently has a consensus rating of “Moderate Buy” and an average price target of $63.29.

Corteva Profile

Corteva, Inc operates in the agriculture business. It operates through two segments, Seed and Crop Protection. The Seed segment develops and supplies advanced germplasm and traits that produce optimum yield for farms. It offers trait technologies that enhance resistance to weather, disease, insects, and herbicides used to control weeds, as well as food and nutritional characteristics.