Corteva, Inc. $CTVA Shares Bought by iA Global Asset Management Inc.

iA Global Asset Management Inc. raised its holdings in Corteva, Inc. (NYSE:CTVA) by 32.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,328 shares of the company’s stock after purchasing an additional 10,228 shares during the period. iA Global Asset Management Inc.’s holdings in Corteva were worth $2,795,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. NORTHSTAR ASSET MANAGEMENT Co raised its position in shares of Corteva by 2.2% during the 2nd quarter. NORTHSTAR ASSET MANAGEMENT Co now owns 6,940 shares of the company’s stock worth $517,000 after purchasing an additional 150 shares during the last quarter. Empirical Finance LLC increased its position in Corteva by 0.6% during the second quarter. Empirical Finance LLC now owns 24,935 shares of the company’s stock worth $1,858,000 after buying an additional 153 shares in the last quarter. Exchange Capital Management Inc. increased its position in Corteva by 0.3% during the second quarter. Exchange Capital Management Inc. now owns 56,901 shares of the company’s stock worth $4,241,000 after buying an additional 161 shares in the last quarter. Carnegie Investment Counsel lifted its position in shares of Corteva by 3.0% in the second quarter. Carnegie Investment Counsel now owns 5,607 shares of the company’s stock valued at $418,000 after acquiring an additional 164 shares in the last quarter. Finally, Curat Global LLC lifted its position in shares of Corteva by 93.7% in the second quarter. Curat Global LLC now owns 370 shares of the company’s stock valued at $28,000 after acquiring an additional 179 shares in the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Corteva Stock Performance

Shares of CTVA stock opened at $71.68 on Friday. Corteva, Inc. has a one year low of $53.40 and a one year high of $77.41. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.07 and a current ratio of 1.58. The company has a 50 day moving average price of $67.26 and a 200 day moving average price of $68.40. The firm has a market capitalization of $48.44 billion, a price-to-earnings ratio of 30.63, a price-to-earnings-growth ratio of 1.82 and a beta of 0.74.

Corteva (NYSE:CTVA) last announced its quarterly earnings results 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 for the quarter, compared to analyst estimates of $2.47 billion. During the same quarter last year, the business earned ($0.49) EPS. Corteva’s revenue for the quarter was up 6.5% on a year-over-year basis. Sell-side analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders 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 yield of 1.0%. The ex-dividend date of this dividend was Monday, December 1st. Corteva’s payout ratio is 30.77%.

Analyst Ratings Changes

Several research analysts recently weighed in on CTVA shares. Oppenheimer reissued an “outperform” rating and issued a $76.00 target price on shares of Corteva in a research note on Friday, November 7th. The Goldman Sachs Group boosted their price objective on shares of Corteva from $77.00 to $78.00 and gave the company a “buy” rating in a research report on Tuesday, December 16th. Wall Street Zen upgraded shares of Corteva from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th. Mizuho lifted their target price on shares of Corteva from $78.00 to $80.00 and gave the stock an “outperform” rating in a research note on Friday, January 16th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Corteva in a research note on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $79.47.

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.