TIAA Trust National Association Acquires 975 Shares of Corteva, Inc. (NYSE:CTVA)

TIAA Trust National Association grew its holdings in Corteva, Inc. (NYSE:CTVA) by 7.6% in the 4th quarter, Holdings Channel reports. The fund owned 13,748 shares of the company’s stock after purchasing an additional 975 shares during the quarter. TIAA Trust National Association’s holdings in Corteva were worth $783,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Oak Thistle LLC bought a new stake in Corteva in the 4th quarter valued at $1,514,000. Van ECK Associates Corp raised its position in shares of Corteva by 5.9% during the fourth quarter. Van ECK Associates Corp now owns 9,428,206 shares of the company’s stock valued at $537,031,000 after buying an additional 525,531 shares during the last quarter. Swedbank AB grew its position in Corteva by 51.9% during the fourth quarter. Swedbank AB now owns 695,641 shares of the company’s stock worth $39,624,000 after buying an additional 237,764 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Corteva by 755.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 552,769 shares of the company’s stock worth $31,486,000 after buying an additional 488,181 shares in the last quarter. Finally, S.E.E.D. Planning Group LLC raised its holdings in Corteva by 54.5% in the 4th quarter. S.E.E.D. Planning Group LLC now owns 96,103 shares of the company’s stock valued at $5,474,000 after acquiring an additional 33,886 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Wall Street Analysts Forecast Growth

CTVA has been the topic of several recent research reports. UBS Group decreased their price objective on Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Barclays boosted their price target on shares of Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. Royal Bank of Canada raised their price objective on shares of Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Bank of America upped their target price on shares of Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Finally, Wells Fargo & Company raised their price target on shares of Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $68.00.

Insider Activity at Corteva

In related news, insider Brian Titus sold 26,560 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $63.74, for a total value of $1,692,934.40. Following the transaction, the insider now directly owns 11,347 shares in the company, valued at $723,257.78. This represents a 70.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.14% of the stock is owned by company insiders.

Corteva Trading Down 0.3 %

CTVA opened at $62.54 on Friday. Corteva, Inc. has a 1-year low of $50.01 and a 1-year high of $66.24. The stock has a market capitalization of $42.88 billion, a PE ratio of 48.48, a PEG ratio of 1.68 and a beta of 0.79. 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 firm has a 50-day moving average price of $62.56 and a two-hundred day moving average price of $60.03.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). Corteva had a net margin of 5.36% and a return on equity of 7.19%. As a group, equities analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend was Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is presently 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.