Corteva, Inc. (NYSE:CTVA) Shares Bought by NEOS Investment Management LLC

NEOS Investment Management LLC increased its stake in Corteva, Inc. (NYSE:CTVA) by 31.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 41,745 shares of the company’s stock after acquiring an additional 9,954 shares during the period. NEOS Investment Management LLC’s holdings in Corteva were worth $2,378,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. UniSuper Management Pty Ltd boosted its holdings in Corteva by 22.0% in the fourth quarter. UniSuper Management Pty Ltd now owns 59,351 shares of the company’s stock valued at $3,381,000 after acquiring an additional 10,713 shares during the last quarter. WINTON GROUP Ltd acquired a new stake in Corteva during the fourth quarter worth about $5,740,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Corteva by 7.5% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,101,692 shares of the company’s stock valued at $61,629,000 after purchasing an additional 77,189 shares in the last quarter. Korea Investment CORP increased its position in Corteva by 20.8% during the 4th quarter. Korea Investment CORP now owns 610,748 shares of the company’s stock worth $34,788,000 after purchasing an additional 104,992 shares in the last quarter. Finally, Ausdal Financial Partners Inc. purchased a new position in Corteva in the fourth quarter valued at approximately $269,000. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Corteva Trading Down 2.2 %

CTVA opened at $61.08 on Friday. Corteva, Inc. has a 12-month low of $50.01 and a 12-month high of $66.24. 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 stock has a market capitalization of $41.72 billion, a PE ratio of 47.35, a P/E/G ratio of 1.68 and a beta of 0.79. The firm’s fifty day moving average price is $62.53 and its 200 day moving average price is $60.07.

Corteva (NYSE:CTVA) last issued 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, research analysts expect that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

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

Insider Activity

In other news, insider Brian Titus sold 26,560 shares of the firm’s stock in a transaction dated 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 approximately $723,257.78. This trade represents a 70.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

CTVA has been the subject of several research reports. Bank of America boosted their price objective on shares of Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Wells Fargo & Company upped their price target on shares of Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 28th. Barclays upped 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. Royal Bank of Canada raised their target price on Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Finally, BNP Paribas raised Corteva to a “hold” rating in a research report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Corteva has a consensus rating of “Moderate Buy” and a consensus price target of $68.00.

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.