Canada Pension Plan Investment Board Takes Position in Corteva, Inc. $CTVA

Canada Pension Plan Investment Board bought a new stake in Corteva, Inc. (NYSE:CTVA) in the 2nd quarter, Holdings Channel reports. The firm bought 1,409,205 shares of the company’s stock, valued at approximately $119,346,000.

A number of other institutional investors have also added to or reduced their stakes in CTVA. BlackRock Inc. bought a new stake in Corteva during the second quarter worth $4,560,180,000. State Street Corp grew its position in shares of Corteva by 3.7% in the 4th quarter. State Street Corp now owns 36,570,876 shares of the company’s stock valued at $2,451,346,000 after acquiring an additional 1,290,071 shares during the period. Franklin Resources Inc. increased its stake in shares of Corteva by 4.3% during the 4th quarter. Franklin Resources Inc. now owns 19,537,500 shares of the company’s stock worth $1,309,599,000 after purchasing an additional 805,873 shares during the last quarter. Harris Associates L P raised its holdings in shares of Corteva by 168.1% in the 4th quarter. Harris Associates L P now owns 17,026,221 shares of the company’s stock valued at $1,141,268,000 after purchasing an additional 10,675,052 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of Corteva by 5.0% in the 4th quarter. Northern Trust Corp now owns 11,731,834 shares of the company’s stock valued at $786,385,000 after purchasing an additional 562,550 shares during the period. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Corteva from $77.00 to $83.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. Weiss Ratings lowered Corteva from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, August 3rd. Rothschild & Co Redburn raised their price objective on Corteva from $80.00 to $90.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. BNP Paribas Exane raised their price objective on Corteva from $74.00 to $77.00 in a research report on Wednesday, May 6th. Finally, Barclays lifted their target price on Corteva from $84.00 to $91.00 and gave the stock an “overweight” rating in a research note on Thursday, June 11th. Fourteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $91.50.

Corteva Stock Performance

NYSE CTVA opened at $83.08 on Thursday. The stock has a market cap of $55.43 billion, a PE ratio of 55.02, a P/E/G ratio of 2.55 and a beta of 0.57. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.10 and a current ratio of 1.52. The firm has a 50-day moving average of $82.51 and a 200-day moving average of $80.45. Corteva, Inc. has a 52-week low of $60.53 and a 52-week high of $90.97.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Thursday, July 30th. The company reported $2.30 EPS for the quarter, beating analysts’ consensus estimates of $2.24 by $0.06. The business had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.60 billion. Corteva had a net margin of 5.66% and a return on equity of 10.18%. Corteva’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.20 EPS. Corteva has set its FY 2026 guidance at 3.600-3.800 EPS. On average, sell-side analysts anticipate that Corteva, Inc. will post 3.72 EPS for the current year.

Corteva Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $0.72 annualized dividend and a dividend yield of 0.9%. Corteva’s dividend payout ratio is presently 47.68%.

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.