Corteva, Inc. (NYSE:CTVA) Shares Purchased by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. grew its stake in Corteva, Inc. (NYSE:CTVAFree Report) by 18.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 333,884 shares of the company’s stock after purchasing an additional 51,818 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Corteva were worth $17,082,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Column Capital Advisors LLC boosted its holdings in Corteva by 89.4% during the third quarter. Column Capital Advisors LLC now owns 1,051 shares of the company’s stock worth $54,000 after buying an additional 496 shares in the last quarter. US Bancorp DE boosted its stake in shares of Corteva by 3.1% in the third quarter. US Bancorp DE now owns 300,411 shares of the company’s stock valued at $15,369,000 after purchasing an additional 9,060 shares during the period. NewSquare Capital LLC increased its holdings in Corteva by 70.6% in the third quarter. NewSquare Capital LLC now owns 546 shares of the company’s stock valued at $28,000 after buying an additional 226 shares during the last quarter. Larson Financial Group LLC increased its holdings in Corteva by 302.1% in the third quarter. Larson Financial Group LLC now owns 1,701 shares of the company’s stock valued at $87,000 after buying an additional 1,278 shares during the last quarter. Finally, Stoneridge Investment Partners LLC raised its stake in Corteva by 53.0% during the third quarter. Stoneridge Investment Partners LLC now owns 63,042 shares of the company’s stock worth $3,225,000 after acquiring an additional 21,836 shares during the period. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Corteva Price Performance

Shares of CTVA stock traded up $0.62 during trading hours on Friday, reaching $45.86. The stock had a trading volume of 2,372,624 shares, compared to its average volume of 3,468,665. Corteva, Inc. has a 12 month low of $43.22 and a 12 month high of $65.21. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $32.32 billion, a PE ratio of 35.08, a PEG ratio of 1.16 and a beta of 0.73. The stock’s fifty day simple moving average is $46.29 and its 200 day simple moving average is $49.55.

Corteva (NYSE:CTVAGet Free Report) last released its quarterly earnings results on Wednesday, November 8th. The company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.03. Corteva had a return on equity of 7.47% and a net margin of 5.38%. The company had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.63 billion. During the same period in the previous year, the company posted ($0.12) earnings per share. The firm’s revenue was down 6.7% on a year-over-year basis. On average, equities research analysts predict that Corteva, Inc. will post 2.59 EPS for the current year.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Friday, March 1st will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.40%. Corteva’s dividend payout ratio (DPR) is presently 49.23%.

Analysts Set New Price Targets

CTVA has been the subject of a number of recent research reports. UBS Group dropped their price objective on shares of Corteva from $65.00 to $64.00 and set a “buy” rating for the company in a research note on Thursday, January 11th. KeyCorp decreased their price target on Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a research report on Friday, November 10th. Berenberg Bank cut Corteva from a “buy” rating to a “hold” rating and dropped their target price for the company from $63.00 to $52.00 in a report on Monday, November 27th. BMO Capital Markets cut their price target on Corteva from $70.00 to $64.00 and set an “outperform” rating on the stock in a research note on Monday, October 30th. Finally, Wells Fargo & Company dropped their target price on shares of Corteva from $73.00 to $66.00 and set an “overweight” rating for the company in a report on Monday, October 23rd. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $64.32.

Check Out Our Latest Analysis on CTVA

Insider Buying and Selling at Corteva

In related news, insider Samuel R. Eathington bought 1,094 shares of the firm’s stock in a transaction on Tuesday, November 28th. The shares were bought at an average price of $46.07 per share, with a total value of $50,400.58. Following the completion of the transaction, the insider now directly owns 41,066 shares of the company’s stock, valued at approximately $1,891,910.62. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Corteva news, EVP Robert D. King bought 640 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The stock was acquired at an average price of $46.77 per share, with a total value of $29,932.80. Following the completion of the transaction, the executive vice president now directly owns 59,701 shares in the company, valued at approximately $2,792,215.77. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Samuel R. Eathington bought 1,094 shares of Corteva stock in a transaction that occurred on Tuesday, November 28th. The stock was bought at an average price of $46.07 per share, with a total value of $50,400.58. Following the purchase, the insider now owns 41,066 shares of the company’s stock, valued at approximately $1,891,910.62. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 2,084 shares of company stock worth $95,527. 0.14% of the stock is owned by insiders.

Corteva Profile

(Free Report)

Corteva, Inc operates in the agriculture business. It operates through two segments, Seed and Crop Protection. The Seed segment develops and supplies advanced germplasm and traits that produce optimum yield for farms. It offers trait technologies that enhance resistance to weather, disease, insects, and herbicides used to control weeds, as well as food and nutritional characteristics.

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Institutional Ownership by Quarter for Corteva (NYSE:CTVA)

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