TCV Trust & Wealth Management Inc. Takes $205,000 Position in Corteva, Inc. (NYSE:CTVA)

TCV Trust & Wealth Management Inc. purchased a new stake in Corteva, Inc. (NYSE:CTVA) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 3,489 shares of the company’s stock, valued at approximately $205,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Mediolanum International Funds Ltd acquired a new stake in shares of Corteva during the 1st quarter valued at approximately $2,270,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Corteva by 14.7% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 948,127 shares of the company’s stock valued at $54,678,000 after acquiring an additional 121,817 shares during the period. Intech Investment Management LLC grew its holdings in shares of Corteva by 69.5% during the first quarter. Intech Investment Management LLC now owns 52,557 shares of the company’s stock valued at $3,031,000 after purchasing an additional 21,545 shares during the last quarter. Illinois Municipal Retirement Fund raised its position in shares of Corteva by 295.9% during the 1st quarter. Illinois Municipal Retirement Fund now owns 94,896 shares of the company’s stock worth $5,473,000 after purchasing an additional 70,924 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Corteva by 75.5% in the 1st quarter. BNP Paribas Financial Markets now owns 633,117 shares of the company’s stock worth $36,512,000 after purchasing an additional 272,461 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CTVA shares. Morgan Stanley reaffirmed an “overweight” rating and issued a $65.00 target price on shares of Corteva in a research report on Tuesday, September 24th. Bank of America upgraded shares of Corteva from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $59.00 to $67.00 in a research report on Wednesday, October 16th. KeyCorp decreased their target price on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Citigroup started coverage on Corteva in a research report on Wednesday, October 23rd. They set a “buy” rating and a $68.00 price objective for the company. Finally, JPMorgan Chase & Co. reduced their price target on Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $62.84.

Corteva Stock Performance

Corteva stock opened at $60.35 on Monday. Corteva, Inc. has a fifty-two week low of $43.22 and a fifty-two week high of $61.21. The firm’s 50 day simple moving average is $57.13 and its 200-day simple moving average is $55.16. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.72 and a quick ratio of 1.17. The company has a market cap of $42.06 billion, a P/E ratio of 76.39, a price-to-earnings-growth ratio of 1.66 and a beta of 0.77.

Corteva (NYSE:CTVA) last released its earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.09. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The company had revenue of $6.11 billion for the quarter, compared to analysts’ expectations of $6.15 billion. During the same quarter in the previous year, the business posted $1.60 EPS. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, equities research analysts predict that Corteva, Inc. will post 2.66 EPS for the current year.

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.