US Bancorp DE Has $19.74 Million Holdings in Corteva, Inc. $CTVA

US Bancorp DE lifted its position in shares of Corteva, Inc. (NYSE:CTVAFree Report) by 2.9% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 264,780 shares of the company’s stock after purchasing an additional 7,502 shares during the quarter. US Bancorp DE’s holdings in Corteva were worth $19,735,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Corteva by 0.8% in the first quarter. Vanguard Group Inc. now owns 79,814,646 shares of the company’s stock worth $5,022,736,000 after purchasing an additional 639,799 shares during the period. Independent Franchise Partners LLP grew its holdings in Corteva by 1.8% in the first quarter. Independent Franchise Partners LLP now owns 16,785,300 shares of the company’s stock worth $1,056,299,000 after purchasing an additional 288,792 shares during the period. Northern Trust Corp grew its holdings in Corteva by 1.0% in the first quarter. Northern Trust Corp now owns 11,759,755 shares of the company’s stock worth $740,041,000 after purchasing an additional 110,865 shares during the period. Nuveen LLC acquired a new stake in Corteva in the first quarter worth $640,333,000. Finally, WCM Investment Management LLC grew its holdings in Corteva by 1.4% in the first quarter. WCM Investment Management LLC now owns 6,978,187 shares of the company’s stock worth $426,088,000 after purchasing an additional 98,770 shares during the period. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Jefferies Financial Group reduced their price target on shares of Corteva from $92.00 to $85.00 in a report on Thursday, October 2nd. Royal Bank Of Canada reiterated an “outperform” rating on shares of Corteva in a report on Monday, August 11th. Wall Street Zen upgraded shares of Corteva from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. BMO Capital Markets set a $86.00 price objective on shares of Corteva in a report on Monday, September 15th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Corteva from $83.00 to $90.00 and gave the company a “buy” rating in a report on Monday, September 15th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.13.

Get Our Latest Analysis on CTVA

Corteva Stock Down 1.4%

CTVA opened at $61.90 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.68 and a quick ratio of 1.23. The company’s 50-day moving average is $70.38 and its 200 day moving average is $68.91. Corteva, Inc. has a fifty-two week low of $53.40 and a fifty-two week high of $77.41. The firm has a market capitalization of $42.04 billion, a P/E ratio of 30.20, a PEG ratio of 1.42 and a beta of 0.76.

Corteva (NYSE:CTVAGet Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.31. Corteva had a net margin of 8.16% and a return on equity of 8.68%. The company had revenue of $6.46 billion for the quarter, compared to analyst estimates of $6.26 billion. During the same period last year, the firm earned $1.83 earnings per share. The firm’s revenue was up 5.6% on a year-over-year basis. Research analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were given a $0.18 dividend. This is a positive change from Corteva’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Tuesday, September 2nd. Corteva’s payout ratio is presently 35.12%.

Insider Buying and Selling

In other Corteva news, EVP Robert D. King sold 37,280 shares of Corteva stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $74.20, for a total value 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. The trade was a 43.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.14% of the company’s stock.

Corteva Company 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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