DnB Asset Management AS Increases Holdings in Corteva, Inc. (NYSE:CTVA)

DnB Asset Management AS boosted its position in Corteva, Inc. (NYSE:CTVA) by 39.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 232,902 shares of the company’s stock after purchasing an additional 65,334 shares during the period. DnB Asset Management AS’s holdings in Corteva were worth $13,266,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Flagship Wealth Advisors LLC acquired a new stake in Corteva in the fourth quarter valued at $25,000. Noble Wealth Management PBC purchased a new stake in shares of Corteva in the 4th quarter worth about $26,000. Hager Investment Management Services LLC acquired a new stake in Corteva in the 4th quarter valued at about $27,000. Golden State Wealth Management LLC purchased a new position in Corteva during the 4th quarter valued at about $32,000. Finally, Centricity Wealth Management LLC acquired a new position in Corteva during the fourth quarter worth about $34,000. 81.54% of the stock is owned by institutional investors and hedge funds.

Corteva Trading Down 2.2 %

Shares of CTVA opened at $61.08 on Friday. Corteva, Inc. has a twelve month low of $50.01 and a twelve month high of $66.24. The firm has a market capitalization of $41.72 billion, a P/E ratio of 47.35, a price-to-earnings-growth ratio of 1.68 and a beta of 0.79. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. The stock’s fifty day simple moving average is $62.53 and its 200 day simple moving average is $60.10.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). Corteva had a return on equity of 7.19% and a net margin of 5.36%. On average, equities research analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend was Monday, March 3rd. Corteva’s dividend payout ratio is presently 52.71%.

Insider Activity at Corteva

In related news, insider Brian Titus sold 26,560 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the sale, the insider now directly owns 11,347 shares in the company, valued at approximately $723,257.78. This trade represents a 70.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

CTVA has been the topic of several research reports. Royal Bank of Canada increased their price target on shares of Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. BNP Paribas raised Corteva to a “hold” rating in a research report on Monday, February 10th. Barclays upped their price objective on Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. Oppenheimer lifted their price objective on Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Finally, Bank of America upped their target price on shares of Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $68.00.

Corteva Profile

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.