Corteva, Inc. (NYSE:CTVA) Shares Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Corteva, Inc. (NYSE:CTVA) by 7.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,101,692 shares of the company’s stock after buying an additional 77,189 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Corteva were worth $61,629,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of CTVA. Flagship Wealth Advisors LLC bought a new stake in Corteva in the fourth quarter valued at $25,000. Noble Wealth Management PBC acquired a new position in Corteva during the 4th quarter valued at about $26,000. Hager Investment Management Services LLC bought a new position in Corteva in the 4th quarter worth about $27,000. Golden State Wealth Management LLC acquired a new stake in shares of Corteva in the fourth quarter valued at approximately $32,000. Finally, Centricity Wealth Management LLC acquired a new position in shares of Corteva during the fourth quarter worth approximately $34,000. Institutional investors own 81.54% of the company’s stock.

Corteva Stock Down 2.2 %

CTVA stock opened at $61.08 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. The firm has a market capitalization of $41.88 billion, a P/E ratio of 47.35, a P/E/G ratio of 1.68 and a beta of 0.79. Corteva, Inc. has a 52-week low of $50.01 and a 52-week high of $66.24. The company’s 50 day simple moving average is $62.53 and its 200-day simple moving average is $60.07.

Corteva (NYSE:CTVA) last released its earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share (EPS) 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 research analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date was Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is 52.71%.

Insider Buying and Selling

In other Corteva news, insider Brian Titus sold 26,560 shares of Corteva stock in a transaction on 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 owns 11,347 shares of the company’s stock, valued at $723,257.78. This trade represents a 70.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.14% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on CTVA shares. The Goldman Sachs Group assumed coverage on Corteva in a research report on Thursday, March 13th. They set a “buy” rating and a $71.00 price target for the company. Oppenheimer increased their target price on shares of Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Royal Bank of Canada upped their price target on shares of Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. BNP Paribas upgraded shares of Corteva to a “hold” rating in a research note on Monday, February 10th. Finally, Bank of America upped their target price on Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.00.

Corteva Company 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.