Corteva, Inc. $CTVA Position Lifted by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

Key Points

• UBS Asset Management has increased its holdings in Corteva, Inc. by 2.1%, bringing its total shares owned to approximately 4.17 million, valued at around $262.7 million.
• Corteva reported earnings of $2.20 per share for the last quarter, surpassing analyst expectations and showing a revenue increase of 5.6% compared to the previous year.
• The company announced a quarterly dividend of $0.18, up from $0.17, reflecting a commitment to returning value to shareholders with an annualized yield of 1.0%.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Corteva, Inc. (NYSE:CTVA - Free Report) by 2.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 4,174,351 shares of the company's stock after buying an additional 84,506 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.61% of Corteva worth $262,692,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of CTVA. Brighton Jones LLC lifted its position in shares of Corteva by 307.2% in the 4th quarter. Brighton Jones LLC now owns 15,588 shares of the company's stock worth $888,000 after buying an additional 11,760 shares during the last quarter. Focus Partners Wealth lifted its position in shares of Corteva by 5.3% in the 4th quarter. Focus Partners Wealth now owns 60,453 shares of the company's stock worth $3,429,000 after buying an additional 3,047 shares during the last quarter. Gotham Asset Management LLC bought a new position in shares of Corteva in the 4th quarter worth about $4,007,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Corteva by 1.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 81,067 shares of the company's stock worth $4,618,000 after buying an additional 1,128 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp lifted its position in shares of Corteva by 20.0% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 29,315 shares of the company's stock worth $1,670,000 after buying an additional 4,884 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors.

Insider Transactions at Corteva

In other Corteva news, EVP Robert D. King sold 37,280 shares of Corteva stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $74.20, for a total value of $2,766,176.00. Following the completion of the sale, the executive vice president directly owned 49,262 shares in the company, valued at $3,655,240.40. The trade was a 43.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CTVA has been the topic of a number of recent research reports. Wells Fargo & Company restated an "overweight" rating and issued a $83.00 price target (up from $82.00) on shares of Corteva in a research report on Friday, August 8th. Citigroup downgraded shares of Corteva from a "neutral" rating to a "mixed" rating in a research report on Friday, September 5th. UBS Group lifted their price objective on shares of Corteva from $90.00 to $91.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Jefferies Financial Group reiterated a "buy" rating on shares of Corteva in a research report on Friday, June 6th. Finally, Oppenheimer set a $87.00 price objective on shares of Corteva and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Twelve analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Corteva currently has an average rating of "Moderate Buy" and an average price target of $80.25.

Corteva Stock Down 1.0%

Corteva stock opened at $71.79 on Thursday. The stock has a market cap of $48.75 billion, a price-to-earnings ratio of 35.02, a PEG ratio of 1.66 and a beta of 0.78. The company has a current ratio of 1.68, a quick ratio of 1.23 and a debt-to-equity ratio of 0.06. The company's 50-day moving average price is $73.16 and its two-hundred day moving average price is $67.96. Corteva, Inc. has a 52 week low of $53.40 and a 52 week high of $77.41.

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

Corteva Increases Dividend

The firm 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 dividend on an annualized basis and a yield of 1.0%. This is a boost from Corteva's previous quarterly dividend of $0.17. The ex-dividend date is Tuesday, September 2nd. Corteva's dividend payout ratio is presently 35.12%.

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.

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