Bank of Nova Scotia Sells 120,104 Shares of Corteva, Inc. $CTVA

Bank of Nova Scotia cut its position in Corteva, Inc. (NYSE:CTVA - Free Report) by 52.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 109,660 shares of the company's stock after selling 120,104 shares during the period. Bank of Nova Scotia's holdings in Corteva were worth $9,180,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CTVA. Drummond Knight Asset Management Pty Ltd purchased a new stake in shares of Corteva in the fourth quarter worth approximately $25,713,000. Arbejdsmarkedets Tillaegspension purchased a new position in shares of Corteva during the fourth quarter valued at approximately $23,679,000. Leonteq Securities AG purchased a new position in shares of Corteva during the fourth quarter valued at approximately $2,350,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Corteva by 23.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 110,075 shares of the company's stock worth $7,378,000 after buying an additional 20,957 shares in the last quarter. Finally, Brandes Investment Partners LP grew its holdings in Corteva by 1.1% during the fourth quarter. Brandes Investment Partners LP now owns 2,312,515 shares of the company's stock worth $155,009,000 after buying an additional 24,985 shares in the last quarter. 81.54% of the stock is owned by institutional investors.

Corteva News Roundup

Here are the key news stories impacting Corteva this week:

• Positive Sentiment: Oppenheimer raised its price target on Corteva to $95 from $89 and kept an “outperform” rating, signaling confidence in further upside for the stock.
• Positive Sentiment: Zacks upgraded Corteva to Rank #2 (Buy), citing improving earnings prospects ahead of the company’s upcoming results.
• Positive Sentiment: Analysts expect Q2 earnings growth as premium seed demand, new products, and productivity gains help offset pricing and inflation pressure. Corteva Set to Report Q2 Earnings: What Investors Should Expect
• Neutral Sentiment: Corteva declared a quarterly dividend of $0.18 per share, payable September 15 to shareholders of record on September 1, which supports the stock’s income profile but is not a major growth catalyst. Corteva Declares Quarterly Dividend
• Neutral Sentiment: The company is set to report Q2 earnings soon, and investors are awaiting confirmation that demand and operating efficiency trends are holding up. Corteva (CTVA) Projected to Release Quarterly Earnings on Thursday

Wall Street Analyst Weigh In

Several brokerages have weighed in on CTVA. Morgan Stanley raised their price objective on Corteva from $84.00 to $95.00 and gave the company an "overweight" rating in a research note on Thursday, May 28th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Corteva from $90.00 to $100.00 in a research note on Monday, May 11th. Bank of America raised their price target on shares of Corteva from $90.00 to $96.00 and gave the company a "buy" rating in a research report on Monday, July 20th. BNP Paribas Exane boosted their price target on shares of Corteva from $74.00 to $77.00 in a report on Wednesday, May 6th. Finally, The Goldman Sachs Group upped their price objective on shares of Corteva from $88.00 to $96.00 and gave the stock a "buy" rating in a research report on Tuesday, April 14th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $90.19.

Corteva Stock Performance

NYSE CTVA opened at $89.23 on Monday. The company has a market capitalization of $59.68 billion, a PE ratio of 52.49, a price-to-earnings-growth ratio of 2.70 and a beta of 0.56. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.03 and a current ratio of 1.47. Corteva, Inc. has a 52-week low of $60.53 and a 52-week high of $89.39. The company has a 50-day simple moving average of $81.39 and a 200 day simple moving average of $78.99.

Corteva (NYSE:CTVA - Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported $1.50 earnings per share for the quarter, beating analysts' consensus estimates of $1.18 by $0.32. Corteva had a net margin of 6.50% and a return on equity of 9.95%. The firm had revenue of $4.91 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same period in the prior year, the firm earned $1.13 EPS. The company's revenue was up 11.0% compared to the same quarter last year. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. On average, research analysts predict that Corteva, Inc. will post 3.76 EPS for the current year.

Corteva Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a $0.18 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.72 annualized dividend and a dividend yield of 0.8%. Corteva's payout ratio is presently 42.35%.

Corteva Profile

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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