Franklin Resources Inc. Has $1.27 Billion Stake in Corteva, Inc. $CTVA

Franklin Resources Inc. raised its stake in shares of Corteva, Inc. (NYSE:CTVA) by 5.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 18,731,627 shares of the company’s stock after purchasing an additional 1,051,389 shares during the quarter. Franklin Resources Inc.’s holdings in Corteva were worth $1,266,820,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Magnetar Financial LLC acquired a new stake in shares of Corteva in the 3rd quarter valued at approximately $7,893,000. Bank of Montreal Can boosted its stake in Corteva by 3.0% during the 3rd quarter. Bank of Montreal Can now owns 678,799 shares of the company’s stock worth $45,907,000 after acquiring an additional 19,478 shares during the last quarter. Legal & General Group Plc boosted its stake in Corteva by 14.3% during the 3rd quarter. Legal & General Group Plc now owns 5,753,982 shares of the company’s stock worth $389,142,000 after acquiring an additional 720,469 shares during the last quarter. Banque Cantonale Vaudoise boosted its stake in Corteva by 41.6% during the 3rd quarter. Banque Cantonale Vaudoise now owns 4,110 shares of the company’s stock worth $278,000 after acquiring an additional 1,208 shares during the last quarter. Finally, Fieldview Capital Management LLC acquired a new position in Corteva during the third quarter valued at approximately $4,790,000. 81.54% of the stock is owned by institutional investors.

Corteva Stock Performance

Shares of CTVA opened at $76.30 on Wednesday. The firm has a market cap of $51.31 billion, a P/E ratio of 48.29, a PEG ratio of 2.68 and a beta of 0.72. Corteva, Inc. has a twelve month low of $53.40 and a twelve month high of $80.90. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.96 and a current ratio of 1.43. The firm’s 50 day moving average price is $73.40 and its two-hundred day moving average price is $69.06.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Tuesday, February 3rd. The company reported $0.22 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.22. Corteva had a net margin of 6.29% and a return on equity of 9.06%. The company had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $4.23 billion. The firm’s revenue was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.32 earnings per share. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. On average, analysts forecast that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Monday, March 2nd. Corteva’s dividend payout ratio is 45.57%.

Analyst Ratings Changes

CTVA has been the subject of several recent analyst reports. CICC Research upped their target price on shares of Corteva from $70.00 to $80.00 and gave the company an “outperform” rating in a research note on Wednesday, February 11th. Wall Street Zen lowered shares of Corteva from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. JPMorgan Chase & Co. cut shares of Corteva from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $75.00 to $77.00 in a research report on Thursday, February 5th. Rothschild & Co Redburn dropped their price objective on Corteva from $71.00 to $65.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 11th. Finally, Citigroup lifted their target price on Corteva from $74.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, Corteva presently has a consensus rating of “Moderate Buy” and an average price target of $82.90.

Insider Activity

In other Corteva news, insider Brian Titus sold 8,311 shares of Corteva stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $76.55, for a total value of $636,207.05. Following the sale, the insider owned 8,090 shares of the company’s stock, valued at $619,289.50. This trade represents a 50.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.15% of the stock is owned by corporate insiders.

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.