Nomura Asset Management Co. Ltd. Sells 4,163 Shares of Corteva, Inc. (NYSE:CTVA)

Nomura Asset Management Co. Ltd. reduced its holdings in Corteva, Inc. (NYSE:CTVA) by 1.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 410,844 shares of the company’s stock after selling 4,163 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Corteva were worth $23,402,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the business. Flagship Wealth Advisors LLC bought a new position in Corteva during the fourth quarter worth $25,000. Noble Wealth Management PBC acquired a new stake in Corteva in the 4th quarter worth $26,000. Hager Investment Management Services LLC bought a new position in shares of Corteva during the 4th quarter worth about $27,000. Golden State Wealth Management LLC acquired a new position in shares of Corteva during the fourth quarter valued at about $32,000. Finally, Centricity Wealth Management LLC acquired a new position in shares of Corteva during the fourth quarter valued at about $34,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CTVA has been the topic of several research reports. Royal Bank of Canada boosted their price target on Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. The Goldman Sachs Group started coverage on Corteva in a research note on Thursday, March 13th. They issued a “buy” rating and a $71.00 target price for the company. BNP Paribas raised Corteva to a “hold” rating in a research report on Monday, February 10th. Citigroup boosted their price target on shares of Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Finally, KeyCorp raised their price objective on shares of Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $68.00.

Insiders Place Their Bets

In other Corteva news, insider Brian Titus sold 26,560 shares of the stock in a transaction on Thursday, February 20th. The stock was 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 approximately $723,257.78. This trade represents a 70.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.14% of the company’s stock.

Corteva Stock Performance

NYSE CTVA opened at $61.08 on Friday. The firm has a market cap of $41.72 billion, a price-to-earnings ratio of 47.35, 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. Corteva, Inc. has a 1-year low of $50.01 and a 1-year high of $66.24. The company has a 50 day moving average of $62.53 and a 200-day moving average of $60.10.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.32 earnings per share (EPS) 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, equities analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Announces Dividend

The business also recently declared 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 of this dividend was Monday, March 3rd. This represents a $0.68 annualized dividend and a yield of 1.11%. Corteva’s dividend payout ratio (DPR) is 52.71%.

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.