Mn Services Vermogensbeheer B.V. Lowers Position in Corteva, Inc. (NYSE:CTVA)

Mn Services Vermogensbeheer B.V. trimmed its position in shares of Corteva, Inc. (NYSE:CTVA) by 3.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 331,900 shares of the company’s stock after selling 12,600 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Corteva were worth $15,905,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. WCM Investment Management LLC raised its holdings in shares of Corteva by 3.1% during the 4th quarter. WCM Investment Management LLC now owns 7,103,146 shares of the company’s stock valued at $341,590,000 after buying an additional 213,949 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Corteva in the 3rd quarter worth approximately $1,258,000. 17 Capital Partners LLC purchased a new position in Corteva in the 4th quarter worth approximately $1,649,000. Factory Mutual Insurance Co. increased its stake in Corteva by 10.7% in the 4th quarter. Factory Mutual Insurance Co. now owns 532,558 shares of the company’s stock worth $25,520,000 after purchasing an additional 51,500 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Corteva by 9.7% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 777,833 shares of the company’s stock worth $39,794,000 after purchasing an additional 68,593 shares during the period. 81.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CTVA has been the topic of a number of analyst reports. Wolfe Research initiated coverage on Corteva in a research note on Friday, March 1st. They issued an “outperform” rating and a $67.00 price target on the stock. Barclays lifted their price target on Corteva from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 10th. Mizuho decreased their price target on Corteva from $59.00 to $56.00 and set a “buy” rating on the stock in a research note on Thursday, February 1st. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $57.00 price objective (down from $58.00) on shares of Corteva in a research report on Friday. Finally, Royal Bank of Canada lifted their price objective on Corteva from $56.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Six research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, Corteva currently has a consensus rating of “Moderate Buy” and an average target price of $63.05.

Corteva Price Performance

Shares of NYSE:CTVA opened at $53.76 on Monday. Corteva, Inc. has a fifty-two week low of $43.22 and a fifty-two week high of $63.37. The business has a 50-day simple moving average of $55.14 and a two-hundred day simple moving average of $50.18. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.90 and a current ratio of 1.56. The firm has a market cap of $37.57 billion, a price-to-earnings ratio of 52.71, a price-to-earnings-growth ratio of 1.40 and a beta of 0.77.

Corteva (NYSE:CTVA) last released its quarterly earnings results on Thursday, February 1st. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.09. The business had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.54 billion. Corteva had a return on equity of 7.43% and a net margin of 4.27%. During the same period in the previous year, the company posted $0.16 EPS. On average, analysts expect that Corteva, Inc. will post 2.86 earnings per share for the current year.

Corteva Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.19%. Corteva’s dividend payout ratio is currently 62.75%.

Corteva 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.