Quantinno Capital Management LP grew its holdings in Corteva, Inc. (NYSE:CTVA – Free Report) by 1.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,563 shares of the company’s stock after purchasing an additional 219 shares during the quarter. Quantinno Capital Management LP’s holdings in Corteva were worth $758,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Morgan Stanley grew its position in shares of Corteva by 8.6% in the fourth quarter. Morgan Stanley now owns 9,452,940 shares of the company’s stock valued at $555,644,000 after purchasing an additional 746,972 shares during the last quarter. Putnam Investments LLC grew its position in shares of Corteva by 5.0% in the fourth quarter. Putnam Investments LLC now owns 8,216,280 shares of the company’s stock valued at $482,953,000 after purchasing an additional 390,777 shares during the last quarter. Moneta Group Investment Advisors LLC grew its position in shares of Corteva by 110,628.9% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 7,904,934 shares of the company’s stock valued at $464,652,000 after purchasing an additional 7,897,795 shares during the last quarter. Norges Bank acquired a new stake in shares of Corteva in the fourth quarter valued at about $328,936,000. Finally, WCM Investment Management LLC grew its position in shares of Corteva by 3,389.9% in the fourth quarter. WCM Investment Management LLC now owns 4,624,868 shares of the company’s stock valued at $271,850,000 after purchasing an additional 4,492,347 shares during the last quarter. 80.63% of the stock is owned by institutional investors and hedge funds.
Corteva Stock Up 1.0 %
Shares of CTVA opened at $56.14 on Friday. The stock has a market cap of $39.91 billion, a price-to-earnings ratio of 34.65, a P/E/G ratio of 1.34 and a beta of 0.79. The company has a quick ratio of 0.89, a current ratio of 1.39 and a debt-to-equity ratio of 0.05. Corteva, Inc. has a 12 month low of $52.76 and a 12 month high of $68.43. The company has a 50-day moving average price of $56.33 and a two-hundred day moving average price of $59.15.
Corteva Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be paid a $0.16 dividend. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.14%. This is a boost from Corteva’s previous quarterly dividend of $0.15. Corteva’s payout ratio is 37.04%.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on CTVA. Redburn Partners downgraded Corteva from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 25th. KeyCorp reduced their target price on shares of Corteva from $70.00 to $68.00 in a research note on Tuesday, July 11th. Barclays reduced their target price on shares of Corteva from $75.00 to $70.00 in a research note on Thursday, June 1st. Oppenheimer began coverage on shares of Corteva in a research note on Thursday, April 6th. They issued a “market perform” rating for the company. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Corteva from $75.00 to $68.00 in a research note on Monday, May 8th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, Corteva has a consensus rating of “Moderate Buy” and an average price target of $71.65.
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.
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