Illinois Municipal Retirement Fund Has $11.10 Million Position in Corteva, Inc. (NYSE:CTVA)

Illinois Municipal Retirement Fund trimmed its position in Corteva, Inc. (NYSE:CTVA - Free Report) by 21.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 176,316 shares of the company's stock after selling 49,449 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Corteva were worth $11,096,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CTVA. Flagship Wealth Advisors LLC bought a new stake in shares of Corteva in the 4th quarter valued at approximately $25,000. Noble Wealth Management PBC bought a new stake in Corteva in the fourth quarter valued at $26,000. Pinney & Scofield Inc. acquired a new position in Corteva during the fourth quarter worth $27,000. LGT Financial Advisors LLC bought a new position in shares of Corteva during the fourth quarter valued at $31,000. Finally, J.Safra Asset Management Corp acquired a new stake in shares of Corteva in the 4th quarter valued at $37,000. 81.54% of the stock is owned by institutional investors.

Corteva Trading Up 0.1%

Shares of NYSE CTVA traded up $0.10 during midday trading on Monday, reaching $74.49. 3,201,554 shares of the stock were exchanged, compared to its average volume of 3,389,382. Corteva, Inc. has a 12 month low of $50.30 and a 12 month high of $75.05. The company has a market capitalization of $50.81 billion, a price-to-earnings ratio of 45.42, a P/E/G ratio of 1.90 and a beta of 0.75. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.44 and a quick ratio of 1.00. The business has a 50-day simple moving average of $68.57 and a two-hundred day simple moving average of $63.42.

Corteva (NYSE:CTVA - Get Free Report) last posted its earnings results 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 return on equity of 7.84% and a net margin of 6.77%. The firm had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.56 billion. During the same period in the previous year, the company posted $0.89 earnings per share. The company's revenue for the quarter was down 1.7% on a year-over-year basis. As a group, equities research analysts expect that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 2nd were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.91%. The ex-dividend date was Monday, June 2nd. Corteva's payout ratio is 41.46%.

Wall Street Analyst Weigh In

CTVA has been the subject of a number of research analyst reports. Barclays boosted their target price on shares of Corteva from $64.00 to $70.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 14th. KeyCorp boosted their price objective on shares of Corteva from $71.00 to $72.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Wells Fargo & Company increased their price objective on Corteva from $79.00 to $82.00 and gave the company an "overweight" rating in a research report on Monday, June 23rd. The Goldman Sachs Group began coverage on Corteva in a research note on Thursday, March 13th. They issued a "buy" rating and a $71.00 target price for the company. Finally, Jefferies Financial Group reaffirmed a "buy" rating on shares of Corteva in a research note on Friday, June 6th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $72.08.

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.