Robeco Institutional Asset Management B.V. Boosts Holdings in Corteva, Inc. $CTVA

Robeco Institutional Asset Management B.V. grew its holdings in Corteva, Inc. (NYSE:CTVA) by 573.7% in the 2nd quarter, HoldingsChannel reports. The firm owned 394,719 shares of the company’s stock after purchasing an additional 336,133 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Corteva were worth $29,418,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Moody National Bank Trust Division boosted its stake in shares of Corteva by 0.7% in the second quarter. Moody National Bank Trust Division now owns 22,139 shares of the company’s stock valued at $1,650,000 after purchasing an additional 143 shares during the period. Ancora Advisors LLC raised its holdings in Corteva by 0.8% in the first quarter. Ancora Advisors LLC now owns 18,567 shares of the company’s stock valued at $1,168,000 after acquiring an additional 150 shares in the last quarter. NewEdge Advisors LLC raised its holdings in Corteva by 0.5% in the first quarter. NewEdge Advisors LLC now owns 31,455 shares of the company’s stock valued at $1,979,000 after acquiring an additional 152 shares in the last quarter. Plancorp LLC raised its holdings in Corteva by 2.3% in the first quarter. Plancorp LLC now owns 7,156 shares of the company’s stock valued at $450,000 after acquiring an additional 158 shares in the last quarter. Finally, Legacy Financial Advisors Inc. raised its holdings in Corteva by 4.4% in the first quarter. Legacy Financial Advisors Inc. now owns 3,761 shares of the company’s stock valued at $237,000 after acquiring an additional 160 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Stock Down 0.2%

CTVA stock opened at $63.36 on Friday. The company has a current ratio of 1.68, a quick ratio of 1.23 and a debt-to-equity ratio of 0.06. Corteva, Inc. has a twelve month low of $53.40 and a twelve month high of $77.41. The company’s 50 day moving average is $71.24 and its two-hundred day moving average is $68.85. The stock has a market cap of $43.03 billion, a P/E ratio of 30.91, a PEG ratio of 1.43 and a beta of 0.76.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Wednesday, August 6th. The company reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.31. Corteva had a net margin of 8.16% and a return on equity of 8.68%. The company had revenue of $6.46 billion for the quarter, compared to analysts’ expectations of $6.26 billion. During the same quarter last year, the company earned $1.83 earnings per share. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. Research analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.1%. This is a boost from Corteva’s previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, September 2nd. Corteva’s payout ratio is 35.12%.

Wall Street Analyst Weigh In

CTVA has been the topic of several analyst reports. Morgan Stanley set a $84.00 target price on shares of Corteva in a report on Monday, September 15th. Wall Street Zen raised shares of Corteva from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Zacks Research raised shares of Corteva from a “hold” rating to a “strong-buy” rating in a report on Wednesday. Barclays raised shares of Corteva from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $75.00 to $84.00 in a report on Wednesday, August 13th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Corteva in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $80.67.

Insider Activity

In other news, EVP Robert D. King sold 37,280 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the transaction, the executive vice president directly owned 49,262 shares in the company, valued at approximately $3,655,240.40. This trade represents a 43.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.14% of the company’s stock.

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.