Corteva, Inc. (NYSE:CTVA) Stock Holdings Reduced by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lowered its position in Corteva, Inc. (NYSE:CTVA) by 26.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,972 shares of the company’s stock after selling 8,663 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Corteva were worth $1,149,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. New York State Common Retirement Fund lifted its position in shares of Corteva by 72.1% in the fourth quarter. New York State Common Retirement Fund now owns 1,139,909 shares of the company’s stock worth $54,624,000 after buying an additional 477,468 shares during the last quarter. RWA Wealth Partners LLC acquired a new stake in shares of Corteva in the fourth quarter worth about $204,000. Duality Advisers LP acquired a new stake in shares of Corteva in the fourth quarter worth about $657,000. Handelsbanken Fonder AB lifted its position in shares of Corteva by 2.0% in the fourth quarter. Handelsbanken Fonder AB now owns 348,643 shares of the company’s stock worth $16,707,000 after buying an additional 6,680 shares during the last quarter. Finally, Criterion Capital Advisors LLC acquired a new stake in shares of Corteva in the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Wall Street Analysts Forecast Growth

CTVA has been the subject of a number of analyst reports. KeyCorp boosted their price target on Corteva from $63.00 to $66.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. Wells Fargo & Company boosted their price objective on Corteva from $54.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. Wolfe Research began coverage on Corteva in a research report on Friday, March 1st. They set an “outperform” rating and a $67.00 price objective for the company. UBS Group cut their price objective on Corteva from $65.00 to $64.00 and set a “buy” rating for the company in a research report on Thursday, January 11th. Finally, BNP Paribas raised Corteva from an “underperform” rating to a “neutral” rating and set a $53.00 price objective for the company in a research report on Friday, February 2nd. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, Corteva currently has a consensus rating of “Moderate Buy” and an average target price of $63.29.

Corteva Trading Up 0.4 %

CTVA stock opened at $54.92 on Friday. Corteva, Inc. has a 1-year low of $43.22 and a 1-year high of $61.87. The firm has a market cap of $38.38 billion, a P/E ratio of 53.84, a P/E/G ratio of 1.43 and a beta of 0.77. The business’s 50 day moving average is $55.28 and its 200-day moving average is $50.46. The company has a current ratio of 1.56, a quick ratio of 0.90 and a debt-to-equity ratio of 0.09.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Thursday, February 1st. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.09. The company had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.54 billion. Corteva had a return on equity of 7.43% and a net margin of 4.27%. During the same period in the prior year, the company posted $0.16 EPS. Equities analysts anticipate that Corteva, Inc. will post 2.84 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be given a dividend of $0.16 per share. The ex-dividend date is Tuesday, June 4th. This represents a $0.64 dividend on an annualized basis and a yield of 1.17%. Corteva’s dividend payout ratio (DPR) is presently 62.75%.

About Corteva

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.