Nuveen Asset Management LLC Sells 3,466,156 Shares of Corteva, Inc. (NYSE:CTVA)

Nuveen Asset Management LLC lowered its position in Corteva, Inc. (NYSE:CTVA - Free Report) by 24.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,635,105 shares of the company's stock after selling 3,466,156 shares during the quarter. Nuveen Asset Management LLC owned about 1.55% of Corteva worth $605,776,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CTVA. Occudo Quantitative Strategies LP bought a new position in Corteva in the fourth quarter valued at $538,000. OMERS ADMINISTRATION Corp increased its stake in Corteva by 20.0% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 29,315 shares of the company's stock valued at $1,670,000 after acquiring an additional 4,884 shares during the last quarter. Obermeyer Wealth Partners increased its stake in Corteva by 15.8% in the fourth quarter. Obermeyer Wealth Partners now owns 31,482 shares of the company's stock valued at $1,793,000 after acquiring an additional 4,289 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Corteva by 1.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 81,067 shares of the company's stock valued at $4,618,000 after acquiring an additional 1,128 shares during the last quarter. Finally, Moore Capital Management LP bought a new position in Corteva in the fourth quarter valued at $4,381,000. Institutional investors own 81.54% of the company's stock.

Insider Buying and Selling at Corteva

In other Corteva news, insider Brian Titus sold 26,560 shares of the firm's stock in a transaction that occurred 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 transaction, the insider now owns 11,347 shares of the company's stock, valued at approximately $723,257.78. This trade represents a 70.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.14% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on CTVA shares. Royal Bank of Canada upped their price target on shares of Corteva from $72.00 to $73.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. The Goldman Sachs Group started coverage on shares of Corteva in a research report on Thursday, March 13th. They set a "buy" rating and a $71.00 price target for the company. KeyCorp upped their price target on shares of Corteva from $71.00 to $72.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. BNP Paribas upgraded shares of Corteva to a "hold" rating in a research report on Monday, February 10th. Finally, Citigroup upped their price target on shares of Corteva from $75.00 to $78.00 and gave the company a "buy" rating in a research report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $70.50.

Corteva Stock Up 0.4%

CTVA traded up $0.29 on Friday, hitting $68.58. The company had a trading volume of 3,051,748 shares, compared to its average volume of 3,299,725. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. Corteva, Inc. has a 52-week low of $50.01 and a 52-week high of $69.28. The stock has a fifty day simple moving average of $61.61 and a 200-day simple moving average of $60.99. The firm has a market capitalization of $46.84 billion, a P/E ratio of 53.16, a P/E/G ratio of 1.68 and a beta of 0.72.

Corteva (NYSE:CTVA - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.13 EPS for the quarter, topping 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 last year, the business posted $0.89 earnings per share. Corteva's quarterly revenue was down 1.7% compared to the same quarter last year. As a group, equities analysts expect that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 2nd will be issued a $0.17 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.68 annualized dividend and a yield of 0.99%. Corteva's dividend payout ratio (DPR) 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.