Corteva, Inc. $CTVA Shares Bought by Robeco Institutional Asset Management B.V.

Key Points

• Robeco Institutional Asset Management B.V. increased its stake in Corteva by 573.7% in Q2, acquiring an additional 336,133 shares, bringing their total ownership to approximately $29.4 million.
• Corteva reported earnings of $2.20 per share for the last quarter, surpassing analyst expectations by $0.31, with revenues up 5.6% year-over-year at $6.46 billion.
• The company recently raised its quarterly dividend from $0.17 to $0.18 per share, resulting in an annual yield of 1.1%, reflecting a payout ratio of 35.12%.

Robeco Institutional Asset Management B.V. boosted its stake in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 573.7% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 394,719 shares of the company's stock after acquiring an additional 336,133 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.06% of Corteva worth $29,418,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Maryland Capital Advisors Inc. acquired a new stake in shares of Corteva in the second quarter valued at about $29,000. Valley National Advisers Inc. raised its position in shares of Corteva by 85.9% in the first quarter. Valley National Advisers Inc. now owns 526 shares of the company's stock valued at $33,000 after buying an additional 243 shares during the last quarter. Richardson Capital Management LLC acquired a new stake in shares of Corteva in the first quarter valued at about $37,000. von Borstel & Associates Inc. acquired a new stake in shares of Corteva in the first quarter valued at about $44,000. Finally, SOA Wealth Advisors LLC. raised its position in shares of Corteva by 622.5% in the second quarter. SOA Wealth Advisors LLC. now owns 737 shares of the company's stock valued at $55,000 after buying an additional 635 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Trading Down 0.2%

Shares of CTVA stock opened at $63.36 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.68 and a quick ratio of 1.23. The firm has a market cap of $43.03 billion, a PE ratio of 30.91, a price-to-earnings-growth ratio of 1.43 and a beta of 0.76. The company has a 50-day moving average of $71.24 and a two-hundred day moving average of $68.85. Corteva, Inc. has a 1-year low of $53.40 and a 1-year high of $77.41.

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

Corteva Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.1%. This is a boost from Corteva's previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Tuesday, September 2nd. Corteva's payout ratio is 35.12%.

Insiders Place Their Bets

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

Analysts Set New Price Targets

A number of brokerages have recently commented on CTVA. Deutsche Bank Aktiengesellschaft increased their target price on shares of Corteva from $83.00 to $90.00 and gave the company a "buy" rating in a research report on Monday, September 15th. Wall Street Zen raised shares of Corteva from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Barclays raised shares of Corteva from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $75.00 to $84.00 in a report on Wednesday, August 13th. Weiss Ratings reissued a "buy (b-)" rating on shares of Corteva in a report on Saturday, September 27th. Finally, Morgan Stanley set a $84.00 price objective on shares of Corteva in a report on Monday, September 15th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Corteva has an average rating of "Moderate Buy" and a consensus target price of $80.67.

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.

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