Resona Asset Management Co. Ltd. Takes $11.58 Million Position in Corteva, Inc. (NYSE:CTVA)

Resona Asset Management Co. Ltd. purchased a new stake in shares of Corteva, Inc. (NYSE:CTVA) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 203,193 shares of the company’s stock, valued at approximately $11,582,000.

Other large investors have also recently made changes to their positions in the company. World Investment Advisors lifted its position in Corteva by 46.5% during the 4th quarter. World Investment Advisors now owns 7,941 shares of the company’s stock worth $452,000 after acquiring an additional 2,520 shares during the period. OneAscent Financial Services LLC lifted its holdings in shares of Corteva by 16.9% during the fourth quarter. OneAscent Financial Services LLC now owns 5,332 shares of the company’s stock worth $304,000 after purchasing an additional 771 shares during the period. Huntington National Bank boosted its position in Corteva by 2.2% in the fourth quarter. Huntington National Bank now owns 342,340 shares of the company’s stock valued at $19,500,000 after buying an additional 7,408 shares during the last quarter. RFG Bristol Wealth Advisors LLC acquired a new position in Corteva in the 4th quarter worth approximately $201,000. Finally, National Bank of Canada FI raised its position in Corteva by 1.2% during the 4th quarter. National Bank of Canada FI now owns 364,402 shares of the company’s stock worth $20,759,000 after buying an additional 4,408 shares during the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CTVA. Wells Fargo & Company raised their target price on shares of Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, January 28th. BNP Paribas upgraded Corteva to a “hold” rating in a research note on Monday, February 10th. Bank of America lifted their price target on Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. KeyCorp raised their price objective on shares of Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Finally, Oppenheimer boosted their target price on shares of Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Corteva has a consensus rating of “Moderate Buy” and an average target price of $68.06.

Corteva Stock Down 9.2 %

NYSE CTVA opened at $55.66 on Monday. The business has a fifty day moving average price of $62.36 and a 200 day moving average price of $60.31. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45. The company has a market cap of $38.02 billion, a P/E ratio of 43.15, a P/E/G ratio of 1.68 and a beta of 0.73. Corteva, Inc. has a one year low of $50.01 and a one year high of $66.24.

Corteva (NYSE:CTVA) last issued its earnings results on Wednesday, February 5th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). Corteva had a net margin of 5.36% and a return on equity of 7.19%. Research analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $0.17 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.22%. Corteva’s dividend payout ratio is presently 52.71%.

Insiders Place Their Bets

In other Corteva news, insider Brian Titus sold 26,560 shares of Corteva stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the transaction, the insider now directly owns 11,347 shares of the company’s stock, valued at $723,257.78. The trade was a 70.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.14% of the stock is currently owned by corporate insiders.

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.