146,644 Corteva, Inc. $CTVA Shares Bought by ZWJ Investment Counsel Inc.

Key Points

• ZWJ Investment Counsel increased its Corteva stake by 19.1% in the third quarter, acquiring 146,644 shares for a total of 915,449 shares valued at approximately $71.1 million.
• Other major investors also expanded or initiated positions, and institutional investors collectively own 81.54% of Corteva’s outstanding stock.
• Corteva reported quarterly EPS of $2.30, topping estimates, and maintains a quarterly dividend of $0.18 per share. Analysts give the stock a “Moderate Buy” consensus rating, with an average price target of $60.59.

ZWJ Investment Counsel Inc. lifted its position in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 19.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 915,449 shares of the company's stock after acquiring an additional 146,644 shares during the period. Corteva accounts for 2.0% of ZWJ Investment Counsel Inc.'s portfolio, making the stock its 15th biggest holding. ZWJ Investment Counsel Inc. owned about 0.14% of Corteva worth $71,085,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Wellington Management Group LLP raised its stake in Corteva by 941.7% during the 2nd quarter. Wellington Management Group LLP now owns 7,612,704 shares of the company's stock valued at $644,720,000 after acquiring an additional 6,881,875 shares in the last quarter. Rakuten Investment Management Inc. acquired a new position in Corteva during the 2nd quarter worth $9,132,000. Kingsview Wealth Management LLC acquired a new position in Corteva during the 2nd quarter worth $1,093,000. Jupiter Topco LLC bought a new position in shares of Corteva in the second quarter worth $544,246,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Corteva in the second quarter worth $392,447,000. Institutional investors and hedge funds own 81.54% of the company's stock.

Corteva Price Performance

NYSE CTVA opened at $13.40 on Thursday. Corteva, Inc. has a 12 month low of $11.74 and a 12 month high of $90.97. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.52 and a quick ratio of 1.10. The firm has a market capitalization of $8.94 billion, a PE ratio of 8.87, a P/E/G ratio of 1.87 and a beta of 0.57. The company's 50 day simple moving average is $67.61 and its 200 day simple moving average is $76.84.

Corteva (NYSE:CTVA - Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.24 by $0.06. The firm had revenue of $6.38 billion for the quarter, compared to analysts' expectations of $6.60 billion. Corteva had a return on equity of 10.18% and a net margin of 5.66%. The firm's quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.20 earnings per share. Corteva has set its FY 2026 guidance at 3.600-3.800 EPS. As a group, equities research analysts forecast that Corteva, Inc. will post 1.04 EPS for the current fiscal year.

Corteva Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were given a dividend of $0.18 per share. The ex-dividend date was Tuesday, September 1st. This represents a $0.72 annualized dividend and a dividend yield of 5.4%. Corteva's dividend payout ratio (DPR) is 47.68%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Royal Bank Of Canada reissued an "outperform" rating and set a $17.00 price target on shares of Corteva in a report on Wednesday, October 7th. KeyCorp upgraded shares of Corteva from a "sector weight" rating to an "overweight" rating and set a $17.00 price objective on the stock in a research note on Wednesday, October 7th. Weiss Ratings downgraded shares of Corteva from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday, August 3rd. New Street Research set a $17.00 price objective on shares of Corteva in a report on Monday, October 5th. Finally, Mizuho increased their target price on shares of Corteva from $96.00 to $97.00 and gave the company an "outperform" rating in a research report on Tuesday, July 14th. Sixteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $60.59.

Corteva Profile

Corteva, Inc is an agriculture-focused company that develops and supplies seed, crop protection and digital agriculture products. Its offerings are designed to help farmers improve crop productivity, manage pests and diseases, and support more efficient and sustainable farming practices.

The company's seed portfolio includes corn, soybean, wheat, sunflower, canola, cotton and other crops, marketed through brands such as Pioneer, Brevant seeds and PhytoGen. Corteva also provides herbicides, insecticides, fungicides, biological products and seed treatments under a range of agricultural brands.

Corteva serves farmers, agricultural retailers and other customers in markets around the world.

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