Intact Investment Management Inc. Has $69,000 Holdings in Corteva, Inc. (NYSE:CTVA)

Intact Investment Management Inc. reduced its holdings in Corteva, Inc. (NYSE:CTVA - Free Report) by 91.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,100 shares of the company's stock after selling 11,200 shares during the period. Intact Investment Management Inc.'s holdings in Corteva were worth $69,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CTVA. Vanguard Group Inc. raised its stake in shares of Corteva by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 79,174,847 shares of the company's stock worth $4,509,799,000 after purchasing an additional 646,459 shares in the last quarter. Independent Franchise Partners LLP raised its stake in shares of Corteva by 51.5% during the 4th quarter. Independent Franchise Partners LLP now owns 16,496,508 shares of the company's stock worth $939,641,000 after purchasing an additional 5,604,838 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Corteva by 9.2% during the 4th quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company's stock worth $919,507,000 after purchasing an additional 1,354,418 shares in the last quarter. Capital World Investors raised its stake in shares of Corteva by 2,874.6% during the 4th quarter. Capital World Investors now owns 12,812,151 shares of the company's stock worth $729,780,000 after purchasing an additional 12,381,436 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Corteva by 5.5% during the 4th quarter. Northern Trust Corp now owns 11,648,890 shares of the company's stock valued at $663,521,000 after acquiring an additional 608,898 shares during the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on CTVA shares. UBS Group increased their price objective on Corteva from $74.00 to $76.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Barclays increased their price objective on Corteva from $64.00 to $70.00 and gave the company an "equal weight" rating in a report on Wednesday, May 14th. Wells Fargo & Company increased their price objective on Corteva from $79.00 to $82.00 and gave the company an "overweight" rating in a report on Monday. Oppenheimer reissued an "outperform" rating and set a $75.00 price objective (up previously from $72.00) on shares of Corteva in a report on Friday, May 9th. Finally, The Goldman Sachs Group started coverage on Corteva in a report on Thursday, March 13th. They set a "buy" rating and a $71.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Corteva currently has an average rating of "Moderate Buy" and a consensus target price of $72.08.

Corteva Stock Performance

CTVA traded up $0.76 during midday trading on Monday, reaching $74.48. The company's stock had a trading volume of 4,926,822 shares, compared to its average volume of 3,371,599. The stock has a market cap of $50.81 billion, a P/E ratio of 45.42, a PEG ratio of 1.88 and a beta of 0.75. The company has a fifty day simple moving average of $67.43 and a 200 day simple moving average of $63.02. The company has a current ratio of 1.44, a quick ratio of 1.00 and a debt-to-equity ratio of 0.07. Corteva, Inc. has a twelve month low of $50.30 and a twelve month high of $74.96.

Corteva (NYSE:CTVA - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $1.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 quarter last year, the firm posted $0.89 EPS. The company's revenue was down 1.7% on a year-over-year basis. Research analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Dividend Announcement

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

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.