Mitsubishi UFJ Trust & Banking Corp Increases Stake in Corteva, Inc. (NYSE:CTVA)

Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 0.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 333,616 shares of the company’s stock after buying an additional 1,828 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Corteva were worth $19,003,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Great Valley Advisor Group Inc. acquired a new stake in Corteva in the 3rd quarter valued at about $203,000. Fisher Asset Management LLC lifted its position in Corteva by 12.9% during the third quarter. Fisher Asset Management LLC now owns 9,043 shares of the company’s stock worth $532,000 after buying an additional 1,030 shares in the last quarter. Independent Advisor Alliance boosted its stake in Corteva by 7.7% during the third quarter. Independent Advisor Alliance now owns 7,862 shares of the company’s stock worth $462,000 after buying an additional 565 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Corteva by 10.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,279,230 shares of the company’s stock valued at $75,205,000 after buying an additional 126,090 shares in the last quarter. Finally, FMR LLC grew its holdings in shares of Corteva by 1.9% in the third quarter. FMR LLC now owns 10,747,791 shares of the company’s stock valued at $631,863,000 after purchasing an additional 203,126 shares during the period. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Corteva

In other 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 completion of the sale, the insider now directly owns 11,347 shares in the company, valued at $723,257.78. The trade was a 70.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.14% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Citigroup lifted their price target on shares of Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Wells Fargo & Company upped their price target on Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. Oppenheimer raised their price objective on shares of Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. KeyCorp upped their price objective on shares of Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Finally, Barclays lifted their target price on Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $68.00.

Corteva Stock Down 0.3 %

CTVA stock opened at $62.54 on Friday. Corteva, Inc. has a 52 week low of $50.01 and a 52 week high of $66.24. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. The company has a market cap of $42.88 billion, a P/E ratio of 48.48, a P/E/G ratio of 1.68 and a beta of 0.79. The company’s 50-day moving average price is $62.56 and its 200 day moving average price is $60.03.

Corteva (NYSE:CTVA) last posted its earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.02). Corteva had a net margin of 5.36% and a return on equity of 7.19%. On average, research analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a dividend of $0.17 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.09%. Corteva’s dividend payout ratio is currently 52.71%.

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.