PGGM Investments Increases Holdings in Corteva, Inc. $CTVA

PGGM Investments raised its stake in shares of Corteva, Inc. (NYSE:CTVA) by 68.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,223,444 shares of the company’s stock after buying an additional 497,200 shares during the quarter. Corteva comprises about 1.6% of PGGM Investments’ investment portfolio, making the stock its 23rd biggest holding. PGGM Investments’ holdings in Corteva were worth $91,183,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in CTVA. Union Bancaire Privee UBP SA raised its stake in shares of Corteva by 17.8% in the second quarter. Union Bancaire Privee UBP SA now owns 13,606 shares of the company’s stock worth $1,014,000 after purchasing an additional 2,058 shares during the last quarter. Chicago Capital LLC raised its stake in shares of Corteva by 7.6% in the second quarter. Chicago Capital LLC now owns 5,268 shares of the company’s stock worth $393,000 after purchasing an additional 371 shares during the last quarter. Capital Investment Advisors LLC raised its stake in shares of Corteva by 33.6% in the second quarter. Capital Investment Advisors LLC now owns 8,090 shares of the company’s stock worth $603,000 after purchasing an additional 2,033 shares during the last quarter. Spartan Planning & Wealth Management purchased a new position in shares of Corteva in the second quarter worth $303,000. Finally, HB Wealth Management LLC raised its stake in shares of Corteva by 3.0% in the second quarter. HB Wealth Management LLC now owns 19,030 shares of the company’s stock worth $1,418,000 after purchasing an additional 550 shares during the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Price Performance

NYSE CTVA opened at $67.63 on Wednesday. The company has a market capitalization of $45.93 billion, a PE ratio of 32.99, a price-to-earnings-growth ratio of 1.55 and a beta of 0.78. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.23 and a current ratio of 1.68. The business’s fifty day moving average is $71.89 and its 200 day moving average is $68.88. Corteva, Inc. has a fifty-two week low of $53.40 and a fifty-two week high of $77.41.

Corteva (NYSE:CTVA) last released its earnings results on Wednesday, August 6th. The company reported $2.20 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.31. The company had revenue of $6.46 billion for the quarter, compared to the consensus estimate of $6.26 billion. Corteva had a return on equity of 8.68% and a net margin of 8.16%.Corteva’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.83 earnings per share. Sell-side analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Increases Dividend

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

Insider Buying and Selling 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 sale, the executive vice president owned 49,262 shares of the company’s stock, valued at approximately $3,655,240.40. This trade represents a 43.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.15% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. BMO Capital Markets set a $86.00 price target on Corteva in a research note on Monday, September 15th. UBS Group lifted their price objective on Corteva from $90.00 to $91.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Oppenheimer set a $87.00 price objective on Corteva and gave the stock an “outperform” rating in a report on Tuesday, July 15th. Morgan Stanley set a $84.00 price objective on Corteva in a report on Monday, September 15th. Finally, Wall Street Zen raised Corteva from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Thirteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.00.

Corteva Company 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.