Boston Partners Lowers Stock Position in Corteva, Inc. (NYSE:CTVA)

Boston Partners cut its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 11.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,976,838 shares of the company’s stock after selling 515,721 shares during the period. Boston Partners owned 0.57% of Corteva worth $229,301,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Redmont Wealth Advisors LLC acquired a new stake in shares of Corteva during the first quarter worth $25,000. Acadian Asset Management LLC acquired a new stake in shares of Corteva during the first quarter worth $25,000. Rise Advisors LLC lifted its holdings in shares of Corteva by 2,522.2% during the first quarter. Rise Advisors LLC now owns 472 shares of the company’s stock worth $27,000 after purchasing an additional 454 shares during the period. Albion Financial Group UT lifted its holdings in shares of Corteva by 77.2% during the first quarter. Albion Financial Group UT now owns 505 shares of the company’s stock worth $29,000 after purchasing an additional 220 shares during the period. Finally, Ironwood Wealth Management Inc. lifted its holdings in Corteva by 106.1% in the first quarter. Ironwood Wealth Management Inc. now owns 544 shares of the company’s stock valued at $31,000 after acquiring an additional 280 shares during the period. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Corteva Stock Performance

NYSE CTVA traded down $1.42 during trading hours on Friday, hitting $51.58. The company had a trading volume of 3,784,039 shares, compared to its average volume of 2,620,352. Corteva, Inc. has a fifty-two week low of $43.22 and a fifty-two week high of $58.76. The company has a quick ratio of 0.97, a current ratio of 1.72 and a debt-to-equity ratio of 0.10. The business has a fifty day simple moving average of $53.48 and a 200-day simple moving average of $53.86. The firm has a market cap of $35.95 billion, a P/E ratio of 65.32, a price-to-earnings-growth ratio of 1.46 and a beta of 0.77.

Corteva (NYSE:CTVA) last issued its earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.09. The firm had revenue of $6.11 billion for the quarter, compared to analyst estimates of $6.15 billion. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period last year, the company earned $1.60 earnings per share. Equities analysts predict that Corteva, Inc. will post 2.73 EPS for the current year.

Corteva Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.32%. This is a positive change from Corteva’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Tuesday, September 3rd. Corteva’s dividend payout ratio (DPR) is 81.01%.

Insider Activity

In other news, insider Brian Titus sold 12,134 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $56.65, for a total transaction of $687,391.10. Following the transaction, the insider now directly owns 13,495 shares of the company’s stock, valued at $764,491.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Cornel B. Fuerer sold 39,736 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $57.41, for a total transaction of $2,281,243.76. Following the completion of the transaction, the senior vice president now owns 126,628 shares of the company’s stock, valued at $7,269,713.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Brian Titus sold 12,134 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $56.65, for a total value of $687,391.10. Following the transaction, the insider now directly owns 13,495 shares of the company’s stock, valued at approximately $764,491.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 83,556 shares of company stock valued at $4,795,016. Company insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on CTVA. Royal Bank of Canada raised their target price on Corteva from $62.00 to $64.00 and gave the company an “outperform” rating in a report on Monday, May 6th. Canaccord Genuity Group raised their target price on Corteva from $60.00 to $65.00 and gave the company a “buy” rating in a report on Friday, May 3rd. BMO Capital Markets raised their target price on Corteva from $64.00 to $67.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Mizuho reduced their target price on Corteva from $61.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday, June 18th. Finally, Barclays raised their target price on Corteva from $55.00 to $58.00 and gave the company an “equal weight” rating in a report on Wednesday, April 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $62.60.

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.