Rhumbline Advisers Acquires 50,952 Shares of Corteva, Inc. (NYSE:CTVA)

Rhumbline Advisers boosted its position in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 4.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,320,074 shares of the company's stock after purchasing an additional 50,952 shares during the quarter. Rhumbline Advisers owned about 0.19% of Corteva worth $83,072,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in CTVA. Flagship Wealth Advisors LLC bought a new position in Corteva during the fourth quarter worth about $25,000. Noble Wealth Management PBC bought a new stake in Corteva in the fourth quarter valued at approximately $26,000. Pinney & Scofield Inc. bought a new stake in Corteva in the fourth quarter valued at approximately $27,000. Hager Investment Management Services LLC acquired a new stake in Corteva in the fourth quarter worth $27,000. Finally, LGT Financial Advisors LLC bought a new position in shares of Corteva during the fourth quarter worth $31,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Stock Performance

CTVA stock traded down $0.13 during trading hours on Thursday, hitting $71.25. 2,978,173 shares of the stock were exchanged, compared to its average volume of 3,313,317. The company has a 50-day simple moving average of $63.84 and a two-hundred day simple moving average of $61.94. The firm has a market capitalization of $48.61 billion, a P/E ratio of 55.23, a P/E/G ratio of 1.68 and a beta of 0.72. Corteva, Inc. has a 12 month low of $50.01 and a 12 month high of $71.88. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08.

Corteva (NYSE:CTVA - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.25. Corteva had a net margin of 5.36% and a return on equity of 7.19%. The business had revenue of $4.42 billion during the quarter, compared to analysts' expectations of $4.56 billion. During the same quarter in the previous year, the company earned $0.89 EPS. The business's revenue was down 1.7% on a year-over-year basis. On average, analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 2nd will be paid a dividend of $0.17 per share. The ex-dividend date is Monday, June 2nd. This represents a $0.68 dividend on an annualized basis and a yield of 0.95%. Corteva's payout ratio is 41.46%.

Analyst Ratings Changes

A number of research analysts have issued reports on CTVA shares. Citigroup boosted their target price on Corteva from $75.00 to $78.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Morgan Stanley increased their target price on Corteva from $65.00 to $71.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Oppenheimer reaffirmed an "outperform" rating and issued a $75.00 price target (up previously from $72.00) on shares of Corteva in a research note on Friday, May 9th. Barclays increased their price objective on shares of Corteva from $64.00 to $70.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 14th. Finally, BNP Paribas raised Corteva to a "hold" rating in a research note on Monday, February 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $70.50.

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.