OMERS ADMINISTRATION Corp Has $1.67 Million Stock Holdings in Corteva, Inc. (NYSE:CTVA)

OMERS ADMINISTRATION Corp grew its position in Corteva, Inc. (NYSE:CTVA - Free Report) by 20.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,315 shares of the company's stock after purchasing an additional 4,884 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Corteva were worth $1,670,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital World Investors boosted its holdings in Corteva by 2,874.6% in the fourth quarter. Capital World Investors now owns 12,812,151 shares of the company's stock valued at $729,780,000 after purchasing an additional 12,381,436 shares in the last quarter. Independent Franchise Partners LLP boosted its holdings in shares of Corteva by 51.5% in the 4th quarter. Independent Franchise Partners LLP now owns 16,496,508 shares of the company's stock valued at $939,641,000 after buying an additional 5,604,838 shares in the last quarter. Norges Bank purchased a new position in shares of Corteva in the 4th quarter valued at $251,892,000. Raymond James Financial Inc. acquired a new stake in Corteva during the 4th quarter worth $161,052,000. Finally, Franklin Resources Inc. raised its stake in Corteva by 9.2% during the 4th quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company's stock worth $919,507,000 after acquiring an additional 1,354,418 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company's stock.

Insider Transactions at Corteva

In other Corteva news, insider Brian Titus sold 26,560 shares of the company's stock in a transaction that occurred 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 completion of the sale, 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.14% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on CTVA shares. Argus raised shares of Corteva from a "hold" rating to a "buy" rating and set a $69.00 target price for the company in a report on Monday, March 31st. KeyCorp increased their price objective on Corteva from $71.00 to $72.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Barclays boosted their target price on Corteva from $64.00 to $70.00 and gave the company an "equal weight" rating in a report on Wednesday, May 14th. Bank of America lifted their price objective on shares of Corteva from $69.00 to $73.00 and gave the company a "buy" rating in a research report on Tuesday, February 11th. Finally, Citigroup raised their target price on shares of Corteva from $75.00 to $78.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $70.50.

Corteva Stock Performance

Shares of CTVA traded down $0.02 during mid-day trading on Wednesday, hitting $69.16. The stock had a trading volume of 496,774 shares, compared to its average volume of 3,289,201. Corteva, Inc. has a fifty-two week low of $50.01 and a fifty-two week high of $69.37. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. The company has a market cap of $47.18 billion, a PE ratio of 53.60, a PEG ratio of 1.68 and a beta of 0.72. The company's fifty day simple moving average is $62.02 and its two-hundred day simple moving average is $61.10.

Corteva (NYSE:CTVA - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $1.13 EPS for the quarter, beating the consensus estimate of $0.88 by $0.25. Corteva had a net margin of 5.36% and a return on equity of 7.19%. The business had revenue of $4.42 billion during the quarter, compared to analyst estimates of $4.56 billion. During the same period in the previous year, the business posted $0.89 EPS. The company's quarterly revenue was down 1.7% on a year-over-year basis. On average, equities analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 2nd will be given a dividend of $0.17 per share. The ex-dividend date is Monday, June 2nd. This represents a $0.68 annualized dividend and a dividend yield of 0.98%. Corteva's dividend payout ratio is presently 41.46%.

About Corteva

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.