11,149 Shares in Corteva, Inc. (NYSE:CTVA) Acquired by Canada Post Corp Registered Pension Plan

Canada Post Corp Registered Pension Plan acquired a new stake in Corteva, Inc. (NYSE:CTVA) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 11,149 shares of the company’s stock, valued at approximately $635,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. M&T Bank Corp increased its holdings in Corteva by 0.8% in the third quarter. M&T Bank Corp now owns 2,077,000 shares of the company’s stock worth $122,107,000 after buying an additional 16,087 shares during the last quarter. World Investment Advisors LLC acquired a new position in shares of Corteva during the 3rd quarter worth $319,000. Wilmington Savings Fund Society FSB increased its stake in shares of Corteva by 247.9% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 44,080 shares of the company’s stock worth $2,591,000 after purchasing an additional 31,411 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Corteva by 6.1% in the 3rd quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company’s stock valued at $860,746,000 after purchasing an additional 856,007 shares during the last quarter. Finally, 1ST Source Bank boosted its holdings in Corteva by 1.9% in the third quarter. 1ST Source Bank now owns 19,195 shares of the company’s stock worth $1,128,000 after purchasing an additional 367 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Insider Activity

In other news, insider Brian Titus sold 26,560 shares of the business’s stock in a transaction 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 sale, the insider now owns 11,347 shares in the company, valued at approximately $723,257.78. The trade was a 70.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CTVA shares. Argus upgraded Corteva from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a report on Monday, March 31st. Bank of America raised their price objective on Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. 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. KeyCorp lifted their price target on shares of Corteva from $70.00 to $71.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Citigroup upped their price objective on shares of Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Corteva presently has an average rating of “Moderate Buy” and a consensus price target of $68.13.

Corteva Stock Performance

Shares of NYSE CTVA opened at $59.68 on Wednesday. The firm has a market capitalization of $40.77 billion, a price-to-earnings ratio of 46.27, a PEG ratio of 1.68 and a beta of 0.73. Corteva, Inc. has a one year low of $50.01 and a one year high of $66.24. The business has a fifty day simple moving average of $61.15 and a 200 day simple moving average of $60.27. 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 (NYSE:CTVA) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). Corteva had a return on equity of 7.19% and a net margin of 5.36%. Sell-side analysts expect that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend was Monday, March 3rd. Corteva’s payout ratio is 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.