Swedbank AB Has $39.62 Million Holdings in Corteva, Inc. (NYSE:CTVA)

Swedbank AB boosted its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 51.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 695,641 shares of the company’s stock after buying an additional 237,764 shares during the quarter. Swedbank AB’s holdings in Corteva were worth $39,624,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Creative Planning lifted its stake in shares of Corteva by 5.1% in the second quarter. Creative Planning now owns 137,558 shares of the company’s stock worth $7,420,000 after buying an additional 6,705 shares during the last quarter. NewEdge Advisors LLC lifted its position in Corteva by 8.0% during the 2nd quarter. NewEdge Advisors LLC now owns 29,684 shares of the company’s stock worth $1,601,000 after acquiring an additional 2,195 shares during the last quarter. EP Wealth Advisors LLC boosted its holdings in Corteva by 10.6% during the second quarter. EP Wealth Advisors LLC now owns 9,460 shares of the company’s stock valued at $510,000 after acquiring an additional 905 shares during the period. Clearbridge Investments LLC grew its position in shares of Corteva by 62.8% in the second quarter. Clearbridge Investments LLC now owns 1,444,780 shares of the company’s stock valued at $77,931,000 after purchasing an additional 557,571 shares during the last quarter. Finally, Sanctuary Advisors LLC bought a new position in shares of Corteva in the second quarter worth about $4,639,000. 81.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on CTVA. Oppenheimer restated an “outperform” rating and set a $70.00 target price (up previously from $69.00) on shares of Corteva in a research note on Friday, November 8th. UBS Group lowered their price objective on shares of Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Citigroup upped their target price on shares of Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a research note on Wednesday. KeyCorp decreased their price target on shares of Corteva from $69.00 to $68.00 and set an “overweight” rating on the stock in a research report on Friday, January 10th. Finally, Royal Bank of Canada upped their price objective on shares of Corteva from $68.00 to $73.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $66.24.

Corteva Stock Up 1.8 %

Shares of NYSE:CTVA opened at $66.15 on Friday. The company has a market capitalization of $45.46 billion, a PE ratio of 66.81, a P/E/G ratio of 1.63 and a beta of 0.77. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.50. The company’s fifty day moving average is $59.96 and its 200-day moving average is $57.74. Corteva, Inc. has a 52 week low of $45.46 and a 52 week high of $66.24.

Corteva declared that its Board of Directors has approved a stock repurchase program on Tuesday, November 19th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 7.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.68 annualized dividend and a yield of 1.03%. Corteva’s dividend payout ratio is 68.69%.

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.