Handelsbanken Fonder AB Raises Stake in Corteva, Inc. $CTVA

Key Points

• Handelsbanken Fonder AB increased its Corteva stake by 7.6% in the fourth quarter, ending with 402,845 shares valued at about $27 million. Institutional investors still own a large majority of the stock, at 81.54%.
• Corteva’s latest earnings topped expectations, posting $1.50 EPS versus the $1.18 estimate and revenue of $4.91 billion, up 11% year over year. The company also raised its FY2026 EPS guidance to $3.45-$3.70.
• The company declared a quarterly dividend of $0.18 per share, payable June 15, for an annualized yield of 0.9%. Analysts remain cautiously positive, with a consensus rating of “Moderate Buy” and an average target price of $88.14.

Handelsbanken Fonder AB raised its stake in Corteva, Inc. (NYSE:CTVA - Free Report) by 7.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 402,845 shares of the company's stock after acquiring an additional 28,517 shares during the period. Handelsbanken Fonder AB owned approximately 0.06% of Corteva worth $27,003,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Activest Wealth Management increased its position in Corteva by 118.3% in the third quarter. Activest Wealth Management now owns 369 shares of the company's stock worth $25,000 after purchasing an additional 200 shares during the last quarter. JPL Wealth Management LLC bought a new position in Corteva during the third quarter valued at $25,000. Redmont Wealth Advisors LLC bought a new position in shares of Corteva in the third quarter worth about $29,000. Jackson Grant Investment Advisers Inc. grew its holdings in shares of Corteva by 90.6% in the third quarter. Jackson Grant Investment Advisers Inc. now owns 448 shares of the company's stock worth $30,000 after purchasing an additional 213 shares during the last quarter. Finally, Measured Wealth Private Client Group LLC bought a new position in shares of Corteva in the third quarter worth about $33,000. Hedge funds and other institutional investors own 81.54% of the company's stock.

Insider Activity

In other news, insider Brian Titus sold 8,311 shares of the company's stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $76.55, for a total transaction of $636,207.05. Following the transaction, the insider owned 8,090 shares in the company, valued at $619,289.50. This represents a 50.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.15% of the stock is currently owned by company insiders.

Corteva Stock Performance

CTVA stock opened at $78.77 on Thursday. The firm has a market cap of $52.68 billion, a price-to-earnings ratio of 46.33, a PEG ratio of 2.42 and a beta of 0.59. The firm has a 50-day simple moving average of $81.25 and a two-hundred day simple moving average of $73.79. Corteva, Inc. has a one year low of $60.53 and a one year high of $85.63. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.03 and a current ratio of 1.47.

Corteva (NYSE:CTVA - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.18 by $0.32. The business had revenue of $4.91 billion during the quarter, compared to analyst estimates of $4.64 billion. Corteva had a net margin of 6.50% and a return on equity of 9.95%. The company's quarterly revenue was up 11.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.13 earnings per share. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. On average, equities analysts forecast that Corteva, Inc. will post 3.72 EPS for the current fiscal year.

Corteva Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, June 1st. Corteva's dividend payout ratio is presently 42.35%.

Wall Street Analysts Forecast Growth

CTVA has been the subject of a number of research reports. Wall Street Zen lowered shares of Corteva from a "buy" rating to a "hold" rating in a research note on Saturday, February 7th. UBS Group upped their price objective on shares of Corteva from $88.00 to $90.00 and gave the stock a "neutral" rating in a research note on Thursday, May 7th. The Goldman Sachs Group upped their price objective on shares of Corteva from $88.00 to $96.00 and gave the stock a "buy" rating in a research note on Tuesday, April 14th. Oppenheimer upped their price objective on shares of Corteva from $86.00 to $89.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 22nd. Finally, Jefferies Financial Group upped their price objective on shares of Corteva from $95.00 to $97.00 in a research note on Thursday, May 7th. Thirteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, Corteva presently has an average rating of "Moderate Buy" and an average target price of $88.14.

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.

Want to see what other hedge funds are holding CTVA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Corteva, Inc. (NYSE:CTVA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.