Corteva, Inc. (NYSE:CTVA) Shares Bought by New York State Common Retirement Fund

New York State Common Retirement Fund raised its stake in Corteva, Inc. (NYSE:CTVA) by 72.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,139,909 shares of the company’s stock after purchasing an additional 477,468 shares during the quarter. New York State Common Retirement Fund’s holdings in Corteva were worth $54,624,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Harris Associates L P acquired a new stake in shares of Corteva during the third quarter worth about $246,423,000. Van ECK Associates Corp lifted its position 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 purchasing an additional 3,366,106 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Corteva by 29.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 11,095,076 shares of the company’s stock worth $567,624,000 after purchasing an additional 2,545,570 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Corteva by 2.4% during the third quarter. Vanguard Group Inc. now owns 81,346,924 shares of the company’s stock worth $4,161,709,000 after purchasing an additional 1,941,323 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Corteva by 662.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,535,708 shares of the company’s stock worth $73,591,000 after purchasing an additional 1,334,415 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Stock Performance

Corteva stock opened at $55.19 on Wednesday. The stock’s 50 day moving average price is $55.26 and its 200 day moving average price is $50.37. The firm has a market capitalization of $38.57 billion, a PE ratio of 54.11, a price-to-earnings-growth ratio of 1.45 and a beta of 0.77. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.90 and a current ratio of 1.56. Corteva, Inc. has a one year low of $43.22 and a one year high of $61.87.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Thursday, February 1st. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.09. Corteva had a return on equity of 7.43% and a net margin of 4.27%. The company had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.54 billion. During the same period in the previous year, the business earned $0.16 EPS. As a group, sell-side analysts expect that Corteva, Inc. will post 2.84 EPS for the current fiscal year.

Corteva Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a $0.16 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.16%. Corteva’s dividend payout ratio (DPR) is 62.75%.

Analyst Ratings Changes

CTVA has been the topic of several research reports. Wells Fargo & Company increased their price target 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. TheStreet raised shares of Corteva from a “c+” rating to a “b-” rating in a research report on Tuesday, February 27th. KeyCorp upped their target price on shares of Corteva from $63.00 to $66.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 9th. Oppenheimer increased their price objective on Corteva from $62.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, April 16th. Finally, Barclays increased their price objective on Corteva from $55.00 to $58.00 and gave the company an “equal weight” rating in a report on Wednesday, April 10th. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, Corteva has an average rating of “Moderate Buy” and a consensus 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.