Adams Natural Resources Fund Inc. Reduces Position in Corteva, Inc. $CTVA

Key Points

• Adams Natural Resources Fund cut its Corteva stake by 37% in the fourth quarter, selling 34,000 shares and leaving it with 57,945 shares worth about $3.88 million.
• Wall Street sentiment remains positive overall: analysts have issued multiple target-price increases, and Corteva now carries a consensus rating of “Moderate Buy” with an average price target of $88.81.
• Corteva reported solid quarterly results, posting earnings of $1.50 per share and revenue of $4.91 billion, both above estimates, while also announcing a quarterly dividend of $0.18 per share.

Adams Natural Resources Fund Inc. trimmed its stake in Corteva, Inc. (NYSE:CTVA - Free Report) by 37.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,945 shares of the company's stock after selling 34,000 shares during the period. Corteva accounts for approximately 0.6% of Adams Natural Resources Fund Inc.'s holdings, making the stock its 29th largest position. Adams Natural Resources Fund Inc.'s holdings in Corteva were worth $3,884,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of CTVA. Annis Gardner Whiting Capital Advisors LLC lifted its position in shares of Corteva by 9.1% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 1,674 shares of the company's stock valued at $112,000 after buying an additional 140 shares in the last quarter. Drive Wealth Management LLC boosted its holdings in Corteva by 3.8% in the 4th quarter. Drive Wealth Management LLC now owns 4,259 shares of the company's stock worth $285,000 after buying an additional 156 shares during the period. Reynders McVeigh Capital Management LLC increased its stake in Corteva by 2.9% in the 4th quarter. Reynders McVeigh Capital Management LLC now owns 5,686 shares of the company's stock worth $381,000 after buying an additional 160 shares in the last quarter. Chesapeake Capital Corp IL lifted its holdings in Corteva by 0.9% in the 4th quarter. Chesapeake Capital Corp IL now owns 18,035 shares of the company's stock worth $1,209,000 after purchasing an additional 161 shares in the last quarter. Finally, Fox Run Management L.L.C. boosted its stake in Corteva by 5.1% in the 3rd quarter. Fox Run Management L.L.C. now owns 3,361 shares of the company's stock worth $227,000 after purchasing an additional 164 shares during the period. 81.54% of the stock is owned by institutional investors.

Analyst Ratings Changes

CTVA has been the topic of several research analyst reports. Rothschild & Co Redburn boosted their target price on shares of Corteva from $80.00 to $90.00 and gave the stock a "neutral" rating in a report on Wednesday, April 29th. Citigroup boosted their target price on Corteva from $83.00 to $85.00 and gave the stock a "neutral" rating in a research report on Thursday, May 7th. Berenberg Bank increased their price target on Corteva from $68.00 to $78.00 and gave the company a "hold" rating in a research note on Thursday, March 26th. Argus raised their price target on Corteva from $80.00 to $91.00 and gave the company a "buy" rating in a report on Tuesday, March 31st. Finally, Barclays lifted their price objective on Corteva from $84.00 to $91.00 and gave the stock an "overweight" rating in a research note on Thursday. Fourteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $88.81.

Corteva Stock Performance

Corteva stock opened at $76.14 on Friday. The firm has a market capitalization of $50.92 billion, a P/E ratio of 44.79, a price-to-earnings-growth ratio of 2.33 and a beta of 0.57. The company's 50-day moving average is $80.39 and its 200 day moving average is $75.31. Corteva, Inc. has a 1-year low of $60.53 and a 1-year high of $85.63. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.47 and a quick ratio of 1.03.

Corteva (NYSE:CTVA - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.32. The firm had revenue of $4.91 billion for the quarter, compared to the consensus estimate of $4.64 billion. Corteva had a return on equity of 9.95% and a net margin of 6.50%.The company's revenue for the quarter was up 11.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.13 earnings per share. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. Research analysts forecast that Corteva, Inc. will post 3.72 EPS for the current year.

Corteva Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a $0.18 dividend. The ex-dividend date is Monday, June 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.9%. Corteva's payout ratio is presently 42.35%.

About Corteva

Corteva, Inc NYSE: CTVA is an independent global agriculture company that was established as a publicly traded firm in mid‑2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva's operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.

Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.

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