Handelsbanken Fonder AB Purchases 6,680 Shares of Corteva, Inc. (NYSE:CTVA)

Handelsbanken Fonder AB grew its position in Corteva, Inc. (NYSE:CTVA) by 2.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 348,643 shares of the company’s stock after purchasing an additional 6,680 shares during the quarter. Handelsbanken Fonder AB’s holdings in Corteva were worth $16,707,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CTVA. Vanguard Group Inc. grew its stake in shares of Corteva by 2.4% in the third quarter. Vanguard Group Inc. now owns 81,346,924 shares of the company’s stock worth $4,161,709,000 after acquiring an additional 1,941,323 shares during the last quarter. Northern Trust Corp grew its stake in shares of Corteva by 2.7% in the third quarter. Northern Trust Corp now owns 12,505,783 shares of the company’s stock worth $639,796,000 after acquiring an additional 327,321 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Corteva by 29.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 11,095,076 shares of the company’s stock worth $567,624,000 after acquiring an additional 2,545,570 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Corteva by 78.7% in the third quarter. Van ECK Associates Corp now owns 7,645,091 shares of the company’s stock worth $391,123,000 after acquiring an additional 3,366,106 shares during the last quarter. Finally, WCM Investment Management LLC grew its stake in shares of Corteva by 3.1% in the fourth quarter. WCM Investment Management LLC now owns 7,103,146 shares of the company’s stock worth $341,590,000 after acquiring an additional 213,949 shares during the last quarter. Institutional investors own 81.54% of the company’s stock.

Wall Street Analysts Forecast Growth

CTVA has been the topic of a number of recent research reports. Mizuho decreased their price target on shares of 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 set a $57.00 price target (down previously from $58.00) on shares of Corteva in a research note on Friday, April 12th. KeyCorp lifted their price target on shares of Corteva from $63.00 to $66.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 9th. Oppenheimer lifted their price target on shares of Corteva from $62.00 to $67.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 16th. Finally, Loop Capital upgraded shares of Corteva from a “hold” rating to a “buy” rating and lifted their price target for the stock from $57.00 to $65.00 in a research note on Monday, February 12th. Six research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Corteva presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.29.

Corteva Stock Performance

Corteva stock opened at $55.20 on Tuesday. The stock has a 50-day simple moving average of $55.23 and a 200 day simple moving average of $50.33. The company has a quick ratio of 0.90, a current ratio of 1.56 and a debt-to-equity ratio of 0.09. Corteva, Inc. has a 12-month low of $43.22 and a 12-month high of $61.87. The stock has a market capitalization of $38.58 billion, a price-to-earnings ratio of 54.12, a P/E/G ratio of 1.44 and a beta of 0.77.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Thursday, February 1st. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.09. The firm had revenue of $3.71 billion during the quarter, compared to analysts’ expectations 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 business posted $0.16 EPS. On average, research analysts anticipate that Corteva, Inc. will post 2.84 earnings per share for the current fiscal year.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.64 annualized dividend and a yield of 1.16%. Corteva’s dividend payout ratio is currently 62.75%.

Corteva Company 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.