Corteva, Inc. (NYSE:CTVA) Shares Bought by NBC Securities Inc.

NBC Securities Inc. raised its stake in Corteva, Inc. (NYSE:CTVA) by 93,350.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,869 shares of the company’s stock after acquiring an additional 1,867 shares during the quarter. NBC Securities Inc.’s holdings in Corteva were worth $117,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of CTVA. Capital World Investors raised its stake in shares of Corteva by 2,874.6% during the 4th quarter. Capital World Investors now owns 12,812,151 shares of the company’s stock worth $729,780,000 after buying an additional 12,381,436 shares during the period. Independent Franchise Partners LLP raised its stake in shares of Corteva by 51.5% during the 4th quarter. Independent Franchise Partners LLP now owns 16,496,508 shares of the company’s stock worth $939,641,000 after buying an additional 5,604,838 shares during the period. Norges Bank acquired a new position in shares of Corteva during the 4th quarter worth approximately $251,892,000. Raymond James Financial Inc. acquired a new position in shares of Corteva during the 4th quarter worth approximately $161,052,000. Finally, Franklin Resources Inc. raised its stake in shares of Corteva by 9.2% during the 4th quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company’s stock worth $919,507,000 after buying an additional 1,354,418 shares during the period. 81.54% of the stock is owned by institutional investors and hedge funds.

Corteva Stock Up 0.5%

Shares of CTVA opened at $72.00 on Tuesday. Corteva, Inc. has a 52-week low of $50.01 and a 52-week high of $72.30. The company has a market capitalization of $49.12 billion, a PE ratio of 55.81, a price-to-earnings-growth ratio of 1.68 and a beta of 0.75. The stock has a fifty day simple moving average of $64.33 and a two-hundred day simple moving average of $62.23. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08.

Corteva (NYSE:CTVA) last issued its earnings results on Wednesday, May 7th. The company reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.25. Corteva had a return on equity of 7.19% and a net margin of 5.36%. The business had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.56 billion. During the same period last year, the company earned $0.89 EPS. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. As a group, equities analysts forecast that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 2nd will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date is Monday, June 2nd. Corteva’s payout ratio is 41.46%.

Analyst Ratings Changes

Several brokerages have recently weighed in on CTVA. UBS Group upped their target price on Corteva from $74.00 to $76.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. Morgan Stanley raised their price objective on Corteva from $65.00 to $71.00 and gave the company an “overweight” rating in a report on Friday, May 9th. The Goldman Sachs Group began coverage on Corteva in a report on Thursday, March 13th. They issued a “buy” rating and a $71.00 price objective on the stock. Citigroup raised their price objective on Corteva from $75.00 to $78.00 and gave the company a “buy” rating in a report on Friday, May 9th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Corteva in a report on Friday. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $70.50.

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.