Corteva, Inc. $CTVA Shares Acquired by Osaic Holdings Inc.

Osaic Holdings Inc. increased its holdings in Corteva, Inc. (NYSE:CTVA) by 22.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 179,933 shares of the company’s stock after purchasing an additional 32,419 shares during the period. Osaic Holdings Inc.’s holdings in Corteva were worth $13,361,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CTVA. Norges Bank purchased a new stake in Corteva in the 2nd quarter valued at about $434,220,000. WCM Investment Management LLC increased its position in Corteva by 29.6% during the second quarter. WCM Investment Management LLC now owns 9,044,706 shares of the company’s stock worth $672,836,000 after purchasing an additional 2,066,519 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in Corteva by 4,769.2% during the second quarter. Assenagon Asset Management S.A. now owns 1,924,419 shares of the company’s stock worth $143,427,000 after purchasing an additional 1,884,897 shares during the period. Marshall Wace LLP boosted its holdings in shares of Corteva by 1,365.9% in the 2nd quarter. Marshall Wace LLP now owns 1,809,764 shares of the company’s stock valued at $134,882,000 after purchasing an additional 1,686,309 shares during the last quarter. Finally, National Pension Service grew its stake in shares of Corteva by 148.4% during the 2nd quarter. National Pension Service now owns 2,454,601 shares of the company’s stock valued at $182,941,000 after buying an additional 1,466,268 shares during the period. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Corteva Price Performance

CTVA opened at $66.39 on Friday. Corteva, Inc. has a twelve month low of $53.40 and a twelve month high of $77.41. The firm has a market cap of $44.86 billion, a price-to-earnings ratio of 28.37, a PEG ratio of 1.52 and a beta of 0.74. The company has a current ratio of 1.58, a quick ratio of 1.07 and a debt-to-equity ratio of 0.07. The company has a fifty day simple moving average of $64.54 and a 200 day simple moving average of $69.33.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Tuesday, November 4th. The company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.26. Corteva had a net margin of 9.19% and a return on equity of 9.37%. The company had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.47 billion. During the same period in the prior year, the company posted ($0.49) EPS. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. Equities research analysts expect that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were issued a dividend of $0.18 per share. The ex-dividend date was Monday, December 1st. This represents a $0.72 annualized dividend and a yield of 1.1%. Corteva’s payout ratio is currently 30.77%.

Wall Street Analyst Weigh In

CTVA has been the topic of several research reports. Citigroup raised Corteva from a “neutral” rating to a “positive” rating in a research report on Thursday. Rothschild & Co Redburn cut their price objective on Corteva from $71.00 to $65.00 and set a “neutral” rating on the stock in a report on Tuesday, November 11th. Deutsche Bank Aktiengesellschaft decreased their target price on Corteva from $90.00 to $85.00 and set a “buy” rating for the company in a report on Thursday, November 6th. JPMorgan Chase & Co. upgraded shares of Corteva from a “neutral” rating to an “overweight” rating and set a $67.00 price target on the stock in a report on Thursday, October 2nd. Finally, Argus decreased their price objective on shares of Corteva from $83.00 to $80.00 and set a “buy” rating for the company in a research note on Monday, October 13th. Sixteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $78.21.

About Corteva

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.