Lansforsakringar Fondforvaltning AB publ Decreases Position in Corteva, Inc. $CTVA

Key Points

• Lansforsakringar Fondforvaltning AB publ holds a stock position in Corteva, Inc. valued at $14.48 million after reducing its stake by 1.9% during the first quarter.
• Corteva's quarterly earnings surpassed expectations, reporting $2.20 EPS and revenue of $6.46 billion, marking a 5.6% increase year-over-year.
• The company announced a dividend increase to $0.18 per share, indicating a commitment to returning value to shareholders with a dividend yield of 1.0%.

Lansforsakringar Fondforvaltning AB publ lowered its holdings in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 1.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 230,102 shares of the company's stock after selling 4,499 shares during the period. Lansforsakringar Fondforvaltning AB publ's holdings in Corteva were worth $14,480,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of CTVA. Pinney & Scofield Inc. acquired a new stake in shares of Corteva during the fourth quarter worth about $27,000. LGT Financial Advisors LLC purchased a new stake in Corteva during the 4th quarter valued at approximately $31,000. Valley National Advisers Inc. lifted its position in Corteva by 85.9% during the 1st quarter. Valley National Advisers Inc. now owns 526 shares of the company's stock worth $33,000 after acquiring an additional 243 shares during the period. Richardson Capital Management LLC purchased a new position in shares of Corteva in the 1st quarter valued at approximately $37,000. Finally, von Borstel & Associates Inc. acquired a new position in shares of Corteva in the first quarter valued at approximately $44,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CTVA has been the subject of several recent research reports. BMO Capital Markets increased their price target on Corteva from $74.00 to $86.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. KeyCorp upped their price objective on shares of Corteva from $84.00 to $85.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. UBS Group raised their target price on shares of Corteva from $90.00 to $91.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Citigroup lifted their target price on shares of Corteva from $75.00 to $78.00 and gave the company a "buy" rating in a report on Friday, May 9th. Finally, Oppenheimer set a $87.00 price target on shares of Corteva and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Thirteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Corteva presently has a consensus rating of "Moderate Buy" and a consensus target price of $80.25.

Corteva Price Performance

Corteva stock traded down $0.11 during midday trading on Monday, reaching $74.22. The company's stock had a trading volume of 4,034,989 shares, compared to its average volume of 4,266,757. The firm has a market capitalization of $50.40 billion, a PE ratio of 36.20, a P/E/G ratio of 1.70 and a beta of 0.78. Corteva, Inc. has a fifty-two week low of $53.40 and a fifty-two week high of $77.41. The stock's 50 day simple moving average is $73.43 and its 200 day simple moving average is $67.51. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.23 and a current ratio of 1.68.

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

Corteva Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.0%. This is a boost from Corteva's previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Tuesday, September 2nd. Corteva's dividend payout ratio is 33.17%.

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.