Corteva, Inc. $CTVA Shares Purchased by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio increased its position in shares of Corteva, Inc. (NYSE:CTVA) by 9.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 231,078 shares of the company’s stock after buying an additional 19,218 shares during the period. Public Employees Retirement System of Ohio’s holdings in Corteva were worth $17,222,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CTVA. Nuveen LLC purchased a new stake in shares of Corteva during the 1st quarter worth about $640,333,000. Assenagon Asset Management S.A. raised its holdings in Corteva by 4,769.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,924,419 shares of the company’s stock worth $143,427,000 after purchasing an additional 1,884,897 shares during the period. JPMorgan Chase & Co. raised its holdings in Corteva by 54.6% in the 1st quarter. JPMorgan Chase & Co. now owns 5,009,038 shares of the company’s stock worth $315,219,000 after purchasing an additional 1,769,355 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Corteva by 65.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,251,449 shares of the company’s stock worth $204,615,000 after purchasing an additional 1,290,009 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in Corteva by 7,135.6% in the first quarter. GAMMA Investing LLC now owns 947,789 shares of the company’s stock valued at $59,644,000 after purchasing an additional 934,690 shares during the period. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Insider Activity at Corteva

In related news, EVP Robert D. King sold 37,280 shares of Corteva stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the transaction, the executive vice president owned 49,262 shares in the company, valued at approximately $3,655,240.40. This trade represents a 43.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CTVA. Oppenheimer set a $87.00 target price on Corteva and gave the stock an “outperform” rating in a research note on Tuesday, July 15th. Wall Street Zen upgraded shares of Corteva from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. BMO Capital Markets set a $86.00 target price on shares of Corteva in a research report on Monday, September 15th. Zacks Research upgraded shares of Corteva to a “hold” rating in a research report on Friday, August 8th. Finally, KeyCorp lifted their price objective on Corteva from $84.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, August 8th. Thirteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $82.00.

Corteva Price Performance

Shares of NYSE CTVA opened at $67.08 on Friday. The firm has a 50-day simple moving average of $72.21 and a 200-day simple moving average of $68.64. The company has a quick ratio of 1.23, a current ratio of 1.68 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $45.55 billion, a price-to-earnings ratio of 32.72, a price-to-earnings-growth ratio of 1.59 and a beta of 0.78. Corteva, Inc. has a 52 week low of $53.40 and a 52 week high of $77.41.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.31. The company had revenue of $6.46 billion during the quarter, compared to analysts’ expectations of $6.26 billion. Corteva had a net margin of 8.16% and a return on equity of 8.68%. Corteva’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.83 EPS. On average, equities analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were issued a $0.18 dividend. This is a boost from Corteva’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Tuesday, September 2nd. Corteva’s payout ratio is 35.12%.

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.