Neuberger Berman Group LLC Has $64.06 Million Holdings in Corteva, Inc. (NYSE:CTVA)

Neuberger Berman Group LLC boosted its stake in shares of Corteva, Inc. (NYSE:CTVA) by 1.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,124,666 shares of the company’s stock after purchasing an additional 19,021 shares during the quarter. Neuberger Berman Group LLC owned about 0.16% of Corteva worth $64,061,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CTVA. Chicago Partners Investment Group LLC increased its stake in shares of Corteva by 1.2% in the fourth quarter. Chicago Partners Investment Group LLC now owns 13,282 shares of the company’s stock valued at $759,000 after buying an additional 156 shares during the period. Avidian Wealth Enterprises LLC lifted its holdings in shares of Corteva by 3.6% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 4,521 shares of the company’s stock worth $258,000 after purchasing an additional 157 shares in the last quarter. Beacon Capital Management LLC raised its position in Corteva by 13.4% in the 4th quarter. Beacon Capital Management LLC now owns 1,341 shares of the company’s stock valued at $76,000 after buying an additional 158 shares during the last quarter. Lake Street Advisors Group LLC increased its position in shares of Corteva by 3.7% during the 4th quarter. Lake Street Advisors Group LLC now owns 4,514 shares of the company’s stock valued at $257,000 after purchasing an additional 160 shares during the last quarter. Finally, Roble Belko & Company Inc increased its position in shares of Corteva by 5.5% during the 4th quarter. Roble Belko & Company Inc now owns 3,166 shares of the company’s stock valued at $180,000 after purchasing an additional 166 shares during the last quarter. Institutional investors own 81.54% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on CTVA shares. Argus upgraded Corteva from a “hold” rating to a “buy” rating and set a $69.00 target price for the company in a research note on Monday, March 31st. Royal Bank of Canada upped their price target on Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Oppenheimer increased their price objective on Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Bank of America raised their price objective on Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Finally, BNP Paribas upgraded Corteva to a “hold” rating in a report on Monday, February 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Corteva has an average rating of “Moderate Buy” and a consensus target price of $68.06.

Corteva Price Performance

Shares of NYSE:CTVA opened at $58.70 on Thursday. The company’s fifty day moving average is $61.53 and its two-hundred day moving average is $60.23. 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, Inc. has a 12-month low of $50.01 and a 12-month high of $66.24. The company has a market cap of $40.09 billion, a P/E ratio of 45.50, a price-to-earnings-growth ratio of 1.68 and a beta of 0.73.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). Corteva had a return on equity of 7.19% and a net margin of 5.36%. Equities analysts expect that Corteva, Inc. will post 2.96 earnings per share 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. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date was Monday, March 3rd. Corteva’s dividend payout ratio is currently 52.71%.

Insider Activity at Corteva

In other news, insider Brian Titus sold 26,560 shares of Corteva stock in a transaction on 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. This trade represents a 70.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.14% of the stock is currently owned by company insiders.

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.