Renaissance Technologies LLC Invests $1.22 Million in Corteva, Inc. $CTVA

Renaissance Technologies LLC purchased a new stake in Corteva, Inc. (NYSE:CTVA) in the 1st quarter, HoldingsChannel reports. The firm purchased 14,600 shares of the company’s stock, valued at approximately $1,222,000.

A number of other hedge funds have also recently added to or reduced their stakes in CTVA. Arbejdsmarkedets Tillaegspension bought a new stake in Corteva in the fourth quarter worth $23,679,000. Leonteq Securities AG bought a new position in Corteva during the fourth quarter valued at about $2,350,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Corteva by 23.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 110,075 shares of the company’s stock worth $7,378,000 after buying an additional 20,957 shares during the last quarter. Brandes Investment Partners LP lifted its position in shares of Corteva by 1.1% in the fourth quarter. Brandes Investment Partners LP now owns 2,312,515 shares of the company’s stock worth $155,009,000 after buying an additional 24,985 shares during the last quarter. Finally, Twin Capital Management Inc. boosted its stake in shares of Corteva by 178.9% during the 4th quarter. Twin Capital Management Inc. now owns 25,394 shares of the company’s stock worth $1,702,000 after acquiring an additional 16,288 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CTVA shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $101.00 price objective on shares of Corteva in a research note on Monday, August 3rd. Mizuho increased their price target on Corteva from $96.00 to $97.00 and gave the company an “outperform” rating in a report on Tuesday, July 14th. UBS Group lifted their price target on shares of Corteva from $86.00 to $89.00 and gave the company a “neutral” rating in a research report on Monday, August 3rd. Morgan Stanley boosted their price objective on shares of Corteva from $84.00 to $95.00 and gave the stock an “overweight” rating in a research note on Thursday, May 28th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Corteva from $77.00 to $83.00 and gave the stock a “neutral” rating in a report on Monday, August 3rd. Fourteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $91.70.

Corteva Stock Up 0.2%

CTVA opened at $75.71 on Friday. The business has a 50 day moving average of $81.80 and a 200-day moving average of $80.04. The stock has a market capitalization of $50.51 billion, a price-to-earnings ratio of 50.14, a P/E/G ratio of 2.32 and a beta of 0.57. The company has a current ratio of 1.52, a quick ratio of 1.10 and a debt-to-equity ratio of 0.07. Corteva, Inc. has a 1-year low of $60.53 and a 1-year high of $90.97.

Corteva (NYSE:CTVA) last announced its earnings results on Thursday, July 30th. The company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.24 by $0.06. The business had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.60 billion. Corteva had a net margin of 5.66% and a return on equity of 10.18%. Corteva’s revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.20 earnings per share. Corteva has set its FY 2026 guidance at 3.600-3.800 EPS. As a group, sell-side analysts anticipate that Corteva, Inc. will post 3.72 earnings per share for the current year.

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.18 per share. The ex-dividend date is Tuesday, September 1st. This represents a $0.72 annualized dividend and a dividend yield of 1.0%. Corteva’s payout ratio is presently 47.68%.

About Corteva

Corteva, Inc (NYSE: CTVA) is an independent global agriculture company that was established as a publicly traded firm in mid‑2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva’s operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.

Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.