Nordea Investment Management AB Buys 16,261 Shares of Corteva, Inc. $CTVA

Nordea Investment Management AB lifted its stake in shares of Corteva, Inc. (NYSE:CTVA) by 27.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 75,675 shares of the company’s stock after buying an additional 16,261 shares during the period. Nordea Investment Management AB’s holdings in Corteva were worth $5,103,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Gladwyn Financial Advisors Inc. acquired a new position in Corteva in the 2nd quarter worth about $25,000. True Wealth Design LLC grew its holdings in shares of Corteva by 209.5% during the third quarter. True Wealth Design LLC now owns 390 shares of the company’s stock worth $26,000 after purchasing an additional 264 shares during the last quarter. Total Investment Management Inc. acquired a new position in shares of Corteva in the second quarter valued at approximately $27,000. Curat Global LLC raised its holdings in Corteva by 93.7% in the 2nd quarter. Curat Global LLC now owns 370 shares of the company’s stock valued at $28,000 after buying an additional 179 shares during the last quarter. Finally, Maryland Capital Advisors Inc. bought a new position in Corteva in the 2nd quarter valued at approximately $29,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Price Performance

Shares of CTVA opened at $69.65 on Friday. The firm has a market cap of $47.06 billion, a PE ratio of 29.77, a price-to-earnings-growth ratio of 1.41 and a beta of 0.74. Corteva, Inc. has a 52-week low of $53.40 and a 52-week high of $77.41. The business’s 50 day moving average price is $66.79 and its two-hundred day moving average price is $68.62. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.07 and a current ratio of 1.58.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Tuesday, November 4th. The company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.26. The company had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.47 billion. Corteva had a net margin of 9.19% and a return on equity of 9.37%. Corteva’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.49) EPS. On average, equities analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Monday, December 1st. Corteva’s dividend payout ratio is 30.77%.

Analyst Ratings Changes

Several brokerages have issued reports on CTVA. Royal Bank Of Canada decreased their price target on shares of Corteva from $86.00 to $80.00 and set an “outperform” rating for the company in a research report on Friday, October 17th. Wells Fargo & Company decreased their price objective on Corteva from $80.00 to $77.00 and set an “overweight” rating for the company in a report on Tuesday, November 11th. The Goldman Sachs Group lifted their target price on Corteva from $77.00 to $78.00 and gave the stock a “buy” rating in a report on Tuesday, December 16th. Jefferies Financial Group decreased their price target on Corteva from $92.00 to $85.00 in a research note on Thursday, October 2nd. Finally, Zacks Research cut Corteva from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 30th. Sixteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $78.84.

Corteva Company Profile

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.