KBC Group NV Has $86.12 Million Position in Corteva, Inc. $CTVA

KBC Group NV increased its holdings in Corteva, Inc. (NYSE:CTVA) by 1.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,155,477 shares of the company’s stock after purchasing an additional 11,177 shares during the quarter. KBC Group NV’s holdings in Corteva were worth $86,118,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of Corteva by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 79,814,646 shares of the company’s stock valued at $5,022,736,000 after buying an additional 639,799 shares during the last quarter. Independent Franchise Partners LLP boosted 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 valued at $1,056,299,000 after acquiring an additional 288,792 shares during the last quarter. Northern Trust Corp increased its position in Corteva by 1.0% during the 1st quarter. Northern Trust Corp now owns 11,759,755 shares of the company’s stock valued at $740,041,000 after purchasing an additional 110,865 shares during the period. Nuveen LLC bought a new position in Corteva during the 1st quarter worth approximately $640,333,000. Finally, WCM Investment Management LLC lifted its position in shares of Corteva by 29.6% in the 2nd quarter. WCM Investment Management LLC now owns 9,044,706 shares of the company’s stock worth $672,836,000 after purchasing an additional 2,066,519 shares during the period. 81.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CTVA shares. Wells Fargo & Company dropped their target price on shares of Corteva from $80.00 to $77.00 and set an “overweight” rating on the stock in a report on Tuesday. Zacks Research downgraded Corteva from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 30th. KeyCorp restated a “sector weight” rating on shares of Corteva in a research report on Friday, October 3rd. Citigroup boosted their price target on Corteva from $67.00 to $68.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. Finally, Wall Street Zen upgraded Corteva from a “hold” rating to a “buy” rating in a report on Saturday. Fifteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $79.18.

Insiders Place Their Bets

In other Corteva news, EVP Robert D. King sold 37,280 shares of Corteva stock in a transaction dated 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 completion of the transaction, the executive vice president owned 49,262 shares in the company, valued at approximately $3,655,240.40. The trade was a 43.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.15% of the company’s stock.

Corteva Stock Up 0.3%

Shares of NYSE:CTVA opened at $65.73 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.07 and a current ratio of 1.58. Corteva, Inc. has a 52-week low of $53.40 and a 52-week high of $77.41. The business’s 50 day simple moving average is $66.07 and its two-hundred day simple moving average is $69.56. The firm has a market cap of $44.42 billion, a P/E ratio of 28.09, a PEG ratio of 1.49 and a beta of 0.81.

Corteva (NYSE:CTVA) last issued its earnings results on Tuesday, November 4th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.26. Corteva had a return on equity of 9.37% and a net margin of 9.19%.The company had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.47 billion. During the same period last year, the business earned ($0.49) EPS. Corteva’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, research analysts forecast that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Monday, December 1st. Corteva’s dividend payout ratio is currently 30.77%.

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.