Centre Asset Management LLC Boosts Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Centre Asset Management LLC lifted its holdings in Corteva, Inc. (NYSE:CTVAGet Rating) by 60.6% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 171,869 shares of the company’s stock after acquiring an additional 64,878 shares during the quarter. Corteva accounts for about 3.1% of Centre Asset Management LLC’s holdings, making the stock its 11th biggest holding. Centre Asset Management LLC’s holdings in Corteva were worth $9,879,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of CTVA. Wealthsource Partners LLC grew its position in shares of Corteva by 1.3% in the 3rd quarter. Wealthsource Partners LLC now owns 16,905 shares of the company’s stock worth $711,000 after buying an additional 216 shares during the period. Sprott Inc. boosted its stake in Corteva by 1.0% in the 4th quarter. Sprott Inc. now owns 23,084 shares of the company’s stock worth $1,091,000 after purchasing an additional 230 shares in the last quarter. Manchester Capital Management LLC boosted its stake in Corteva by 3.9% in the 4th quarter. Manchester Capital Management LLC now owns 6,828 shares of the company’s stock worth $323,000 after purchasing an additional 258 shares in the last quarter. BOK Financial Private Wealth Inc. boosted its stake in Corteva by 3.3% in the 4th quarter. BOK Financial Private Wealth Inc. now owns 8,375 shares of the company’s stock worth $396,000 after purchasing an additional 269 shares in the last quarter. Finally, Capital Investment Advisors LLC boosted its stake in Corteva by 3.2% in the 4th quarter. Capital Investment Advisors LLC now owns 8,910 shares of the company’s stock worth $421,000 after purchasing an additional 277 shares in the last quarter. 79.46% of the stock is currently owned by institutional investors.

Several equities analysts have issued reports on the stock. Mizuho upped their target price on shares of Corteva from $60.00 to $67.00 in a research note on Friday, April 29th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Corteva from $64.00 to $72.00 in a research note on Tuesday, May 31st. KeyCorp increased their target price on shares of Corteva from $58.00 to $63.00 and gave the stock an “overweight” rating in a report on Tuesday, April 5th. Vertical Research lowered shares of Corteva from a “buy” rating to a “hold” rating and set a $58.00 target price for the company. in a report on Thursday, April 14th. Finally, Argus increased their price objective on shares of Corteva from $61.00 to $69.00 and gave the company a “buy” rating in a report on Monday, May 23rd. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $62.92.

CTVA opened at $53.43 on Thursday. The business’s 50-day moving average is $58.44 and its two-hundred day moving average is $53.58. Corteva, Inc. has a 1 year low of $40.60 and a 1 year high of $64.03. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.64 and a quick ratio of 1.13. The firm has a market capitalization of $38.67 billion, a PE ratio of 22.74, a price-to-earnings-growth ratio of 1.63 and a beta of 0.64.

Corteva (NYSE:CTVAGet Rating) last issued its quarterly earnings results on Wednesday, May 4th. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.16. Corteva had a return on equity of 6.70% and a net margin of 10.72%. The business had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.47 billion. During the same quarter in the previous year, the firm earned $0.79 earnings per share. The company’s revenue was up 9.5% on a year-over-year basis. As a group, sell-side analysts expect that Corteva, Inc. will post 2.53 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Friday, May 13th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend was Thursday, May 12th. Corteva’s payout ratio is presently 23.83%.

Corteva Company Profile (Get Rating)

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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