Corteva, Inc. $CTVA Shares Sold by Boston Partners

Key Points

• Boston Partners reduced its stake in Corteva, Inc. by 0.8%, now holding 929,190 shares worth approximately $58.46 million after selling 7,486 shares in the first quarter.
• Multiple hedge funds have recently increased their holdings in Corteva, with Capital World Investors boosting its position by 2,874.6% in the last quarter.
• Corteva recently declared a quarterly dividend of $0.18, up from $0.17, marking a 1.0% yield and a payout ratio of 33.17%.

Boston Partners reduced its stake in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 0.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 929,190 shares of the company's stock after selling 7,486 shares during the quarter. Boston Partners owned 0.14% of Corteva worth $58,458,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Corteva by 0.8% during the first quarter. Vanguard Group Inc. now owns 79,814,646 shares of the company's stock valued at $5,022,736,000 after acquiring an additional 639,799 shares in the last quarter. Capital World Investors raised its position in Corteva by 2,874.6% during the fourth quarter. Capital World Investors now owns 12,812,151 shares of the company's stock valued at $729,780,000 after acquiring an additional 12,381,436 shares in the last quarter. Northern Trust Corp raised its position in Corteva by 5.5% during the fourth quarter. Northern Trust Corp now owns 11,648,890 shares of the company's stock valued at $663,521,000 after acquiring an additional 608,898 shares in the last quarter. Nuveen LLC purchased a new position in Corteva during the first quarter valued at approximately $640,333,000. Finally, WCM Investment Management LLC increased its position in shares of Corteva by 1.4% in the first quarter. WCM Investment Management LLC now owns 6,978,187 shares of the company's stock valued at $426,088,000 after buying an additional 98,770 shares in the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Corteva Price Performance

Shares of CTVA traded up $0.4220 during trading hours on Wednesday, hitting $72.8220. 3,086,781 shares of the stock were exchanged, compared to its average volume of 4,108,455. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.23 and a current ratio of 1.68. Corteva, Inc. has a 12-month low of $53.40 and a 12-month high of $77.41. The company has a market cap of $49.45 billion, a price-to-earnings ratio of 35.52, a price-to-earnings-growth ratio of 1.66 and a beta of 0.75. The stock's 50-day moving average price is $73.39 and its two-hundred day moving average price is $66.93.

Corteva (NYSE:CTVA - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $2.20 EPS for the quarter, topping the consensus estimate of $1.89 by $0.31. Corteva had a return on equity of 8.68% and a net margin of 8.16%.The firm had revenue of $6.46 billion during the quarter, compared to analysts' expectations of $6.26 billion. During the same period in the previous year, the business earned $1.83 earnings per share. The firm's revenue for the quarter was up 5.6% on a year-over-year basis. Research analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.18 per share. The ex-dividend date is Tuesday, September 2nd. This is a positive change from Corteva's previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 1.0%. Corteva's dividend payout ratio (DPR) is presently 33.17%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Zacks Research upgraded Corteva to a "hold" rating in a research report on Friday, August 8th. Jefferies Financial Group restated a "buy" rating on shares of Corteva in a research report on Friday, June 6th. Barclays upgraded Corteva from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $75.00 to $84.00 in a research report on Wednesday, August 13th. Wells Fargo & Company restated an "overweight" rating and issued a $83.00 price objective (up from $82.00) on shares of Corteva in a research report on Friday, August 8th. Finally, Morgan Stanley boosted their price objective on Corteva from $65.00 to $71.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Thirteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $80.25.

Corteva Company 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.