Canada Pension Plan Investment Board Takes Position in Corteva, Inc. $CTVA

Canada Pension Plan Investment Board acquired a new stake in Corteva, Inc. (NYSE:CTVA - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,409,205 shares of the company's stock, valued at approximately $119,346,000. Canada Pension Plan Investment Board owned approximately 0.21% of Corteva as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in shares of Corteva during the second quarter worth about $4,560,180,000. Harris Associates L P grew its position in shares of Corteva by 168.1% in the 4th quarter. Harris Associates L P now owns 17,026,221 shares of the company's stock valued at $1,141,268,000 after purchasing an additional 10,675,052 shares during the period. Norges Bank bought a new stake in Corteva during the 4th quarter worth approximately $504,001,000. Legal & General Group Plc acquired a new stake in Corteva during the 2nd quarter worth approximately $482,836,000. Finally, Royal Bank of Canada raised its holdings in Corteva by 202.1% during the 1st quarter. Royal Bank of Canada now owns 7,458,624 shares of the company's stock worth $624,362,000 after buying an additional 4,989,371 shares during the period. 81.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CTVA shares. Rothschild & Co Redburn upped their price target on shares of Corteva from $80.00 to $90.00 and gave the company a "neutral" rating in a report on Wednesday, April 29th. BNP Paribas Exane raised their price objective on shares of Corteva from $74.00 to $77.00 in a report on Wednesday, May 6th. Oppenheimer boosted their price objective on shares of Corteva from $89.00 to $95.00 and gave the company an "outperform" rating in a research report on Thursday, July 23rd. Mizuho upped their target price on shares of Corteva from $96.00 to $97.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 14th. Finally, Barclays increased their target price on Corteva from $84.00 to $91.00 and gave the stock an "overweight" rating in a report on Thursday, June 11th. Fourteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $91.50.

Corteva Price Performance

NYSE CTVA opened at $83.08 on Thursday. The company has a quick ratio of 1.10, a current ratio of 1.52 and a debt-to-equity ratio of 0.07. Corteva, Inc. has a 12-month low of $60.53 and a 12-month high of $90.97. The company has a market capitalization of $55.43 billion, a PE ratio of 55.02, a price-to-earnings-growth ratio of 2.55 and a beta of 0.57. The firm's 50 day moving average is $82.51 and its 200-day moving average is $80.45.

Corteva (NYSE:CTVA - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported $2.30 EPS for the quarter, topping analysts' consensus estimates of $2.24 by $0.06. The business had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.60 billion. Corteva had a net margin of 5.66% and a return on equity of 10.18%. The firm's revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.20 earnings per share. Corteva has set its FY 2026 guidance at 3.600-3.800 EPS. Equities research analysts anticipate that Corteva, Inc. will post 3.72 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Tuesday, September 1st. Corteva's dividend payout ratio is currently 47.68%.

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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