Legal & General Group Plc Sells 204,229 Shares of Corteva, Inc. $CTVA

Legal & General Group Plc cut its position in shares of Corteva, Inc. (NYSE:CTVA) by 3.5% during the 4th quarter, Holdings Channel reports. The firm owned 5,549,753 shares of the company’s stock after selling 204,229 shares during the quarter. Legal & General Group Plc’s holdings in Corteva were worth $372,000,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in Corteva by 307.2% in the fourth quarter. Brighton Jones LLC now owns 15,588 shares of the company’s stock valued at $888,000 after acquiring an additional 11,760 shares during the last quarter. Woodline Partners LP raised its position in shares of Corteva by 40.3% in the first quarter. Woodline Partners LP now owns 57,919 shares of the company’s stock valued at $3,645,000 after purchasing an additional 16,644 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Corteva by 62.1% in the second quarter. EverSource Wealth Advisors LLC now owns 2,559 shares of the company’s stock valued at $191,000 after purchasing an additional 980 shares during the period. Cresset Asset Management LLC raised its position in shares of Corteva by 2.6% in the second quarter. Cresset Asset Management LLC now owns 7,063 shares of the company’s stock valued at $526,000 after purchasing an additional 181 shares during the period. Finally, Jump Financial LLC bought a new stake in shares of Corteva in the second quarter valued at approximately $1,464,000. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on CTVA shares. JPMorgan Chase & Co. lowered shares of Corteva from an “overweight” rating to a “neutral” rating and boosted their price target for the company from $75.00 to $77.00 in a research report on Thursday, February 5th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Corteva from $90.00 to $100.00 in a report on Monday, May 11th. Wolfe Research increased their price target on shares of Corteva from $81.00 to $86.00 and gave the stock an “outperform” rating in a report on Thursday, February 5th. Mizuho upped their price objective on shares of Corteva from $82.00 to $94.00 and gave the company an “outperform” rating in a research note on Wednesday, April 15th. Finally, Royal Bank Of Canada upped their price objective on shares of Corteva from $95.00 to $97.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. Thirteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, Corteva has a consensus rating of “Moderate Buy” and an average price target of $88.14.

Corteva Price Performance

Shares of Corteva stock opened at $79.20 on Wednesday. Corteva, Inc. has a 52-week low of $60.53 and a 52-week high of $85.63. The stock has a market capitalization of $52.97 billion, a price-to-earnings ratio of 46.59, a price-to-earnings-growth ratio of 2.43 and a beta of 0.59. The company has a fifty day moving average of $81.32 and a 200-day moving average of $74.27. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.03 and a current ratio of 1.47.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.32. Corteva had a net margin of 6.50% and a return on equity of 9.95%. The company had revenue of $4.91 billion during the quarter, compared to analysts’ expectations of $4.64 billion. During the same quarter in the prior year, the company earned $1.13 EPS. The firm’s revenue was up 11.0% on a year-over-year basis. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. Equities research analysts expect that Corteva, Inc. will post 3.72 EPS for the current year.

Corteva Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.72 annualized dividend and a yield of 0.9%. Corteva’s dividend payout ratio is presently 42.35%.

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.