Assetmark Inc. Has $4.65 Million Position in Corteva, Inc. (NYSE:CTVA)

Assetmark Inc. boosted its holdings in Corteva, Inc. (NYSE:CTVA - Free Report) by 9.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 73,960 shares of the company's stock after acquiring an additional 6,122 shares during the quarter. Assetmark Inc.'s holdings in Corteva were worth $4,654,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Capital World Investors boosted its position 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 buying an additional 12,381,436 shares in the last quarter. Independent Franchise Partners LLP boosted its position in Corteva by 51.5% in the fourth 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. Franklin Resources Inc. boosted its position in Corteva by 9.2% in the fourth quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company's stock valued at $919,507,000 after buying an additional 1,354,418 shares in the last quarter. B. Metzler seel. Sohn & Co. AG lifted its position in shares of Corteva by 69.0% during the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 2,870,859 shares of the company's stock worth $163,181,000 after purchasing an additional 1,172,110 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Corteva by 97.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,961,440 shares of the company's stock worth $111,726,000 after purchasing an additional 967,118 shares in the last quarter. Institutional investors own 81.54% of the company's stock.

Corteva Trading Up 0.7%

NYSE:CTVA traded up $0.50 during trading hours on Tuesday, hitting $72.90. The stock had a trading volume of 2,631,428 shares, compared to its average volume of 3,341,051. Corteva, Inc. has a one year low of $50.30 and a one year high of $77.41. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.00 and a current ratio of 1.44. The company has a market cap of $49.73 billion, a price-to-earnings ratio of 44.45, a P/E/G ratio of 1.75 and a beta of 0.76. The business's 50 day moving average is $72.98 and its 200-day moving average is $65.99.

Corteva (NYSE:CTVA - Get Free Report) last issued its 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 6.77% and a return on equity of 7.84%. The firm had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.56 billion. During the same quarter in the prior year, the firm earned $0.89 earnings per share. The business's quarterly revenue was down 1.7% on a year-over-year basis. Sell-side analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 0.99%. This is an increase from Corteva's previous quarterly dividend of $0.17. Corteva's dividend payout ratio is presently 41.46%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Argus upgraded shares of Corteva from a "hold" rating to a "buy" rating and set a $69.00 target price on the stock in a research report on Monday, March 31st. Barclays upped their target price on shares of Corteva from $70.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Monday, July 7th. Oppenheimer set a $87.00 target price on shares of Corteva and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Wells Fargo & Company upped their target price on shares of Corteva from $79.00 to $82.00 and gave the stock an "overweight" rating in a research report on Monday, June 23rd. Finally, Morgan Stanley upped their target price on shares of Corteva from $65.00 to $71.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $77.38.

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.