Ilmarinen Mutual Pension Insurance Co Purchases 20,000 Shares of Corteva, Inc. (NYSE:CTVA)

Ilmarinen Mutual Pension Insurance Co increased its position in Corteva, Inc. (NYSE:CTVA) by 44.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 65,000 shares of the company’s stock after purchasing an additional 20,000 shares during the quarter. Ilmarinen Mutual Pension Insurance Co’s holdings in Corteva were worth $3,702,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in the business. Flagship Wealth Advisors LLC bought a new position in shares of Corteva in the fourth quarter worth approximately $25,000. Noble Wealth Management PBC purchased a new stake in Corteva during the 4th quarter valued at $26,000. Hager Investment Management Services LLC bought a new stake in shares of Corteva in the 4th quarter worth $27,000. Golden State Wealth Management LLC purchased a new position in shares of Corteva in the fourth quarter worth $32,000. Finally, Centricity Wealth Management LLC bought a new position in shares of Corteva during the fourth quarter valued at $34,000. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CTVA. KeyCorp raised their price target on Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Citigroup raised their target price on Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Royal Bank of Canada increased their price objective on shares of Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Barclays boosted their target price on shares of Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. Finally, The Goldman Sachs Group began coverage on shares of Corteva in a research note on Thursday, March 13th. They set a “buy” rating and a $71.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Corteva currently has an average rating of “Moderate Buy” and a consensus target price of $68.06.

Corteva Price Performance

Shares of Corteva stock opened at $55.66 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a 52 week low of $50.01 and a 52 week high of $66.24. The stock’s 50-day simple moving average is $62.36 and its 200-day simple moving average is $60.29. The company has a market capitalization of $38.02 billion, a price-to-earnings ratio of 43.15, a PEG ratio of 1.68 and a beta of 0.73.

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.02). Corteva had a return on equity of 7.19% and a net margin of 5.36%. As a group, analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend was Monday, March 3rd. Corteva’s payout ratio is currently 52.71%.

Insider Buying and Selling at Corteva

In other news, insider Brian Titus sold 26,560 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at $723,257.78. This represents a 70.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.14% of the company’s stock.

About Corteva

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.