Lansforsakringar Fondforvaltning AB publ Invests $13.36 Million in Corteva, Inc. (NYSE:CTVA)

Lansforsakringar Fondforvaltning AB publ acquired a new position in Corteva, Inc. (NYSE:CTVA - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 234,601 shares of the company's stock, valued at approximately $13,363,000.

Several other institutional investors also recently modified their holdings of CTVA. JPMorgan Chase & Co. grew its stake in shares of Corteva by 6.7% in the third quarter. JPMorgan Chase & Co. now owns 4,605,608 shares of the company's stock worth $270,764,000 after purchasing an additional 288,885 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Corteva by 12.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 114,957 shares of the company's stock worth $6,548,000 after purchasing an additional 12,800 shares during the last quarter. Brighton Jones LLC grew its stake in shares of Corteva by 307.2% in the fourth quarter. Brighton Jones LLC now owns 15,588 shares of the company's stock worth $888,000 after purchasing an additional 11,760 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Corteva by 9.3% in the fourth quarter. Geneos Wealth Management Inc. now owns 3,311 shares of the company's stock worth $189,000 after purchasing an additional 281 shares during the last quarter. Finally, First Citizens Bank & Trust Co. grew its stake in shares of Corteva by 19.8% in the fourth quarter. First Citizens Bank & Trust Co. now owns 9,371 shares of the company's stock worth $534,000 after purchasing an additional 1,546 shares during the last quarter. Institutional investors own 81.54% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Argus raised shares of Corteva from a "hold" rating to a "buy" rating and set a $69.00 price target on the stock in a research report on Monday, March 31st. The Goldman Sachs Group assumed coverage on shares of Corteva in a research report on Thursday, March 13th. They set a "buy" rating and a $71.00 price target on the stock. Bank of America upped their price target on shares of Corteva from $69.00 to $73.00 and gave the company a "buy" rating in a research report on Tuesday, February 11th. UBS Group upped their price target on shares of Corteva from $74.00 to $76.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Finally, Wells Fargo & Company upped their price target on shares of Corteva from $73.00 to $79.00 and gave the company an "overweight" rating in a research report on Monday, May 12th. One 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's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $70.50.

Corteva Trading Up 1.6%

NYSE:CTVA traded up $1.10 during trading hours on Friday, reaching $70.81. The company's stock had a trading volume of 5,450,676 shares, compared to its average volume of 3,308,634. The firm has a market capitalization of $48.30 billion, a price-to-earnings ratio of 54.89, a PEG ratio of 1.68 and a beta of 0.72. The firm has a 50-day simple moving average of $63.29 and a 200-day simple moving average of $61.69. Corteva, Inc. has a 1 year low of $50.01 and a 1 year high of $71.01. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45.

Corteva (NYSE:CTVA - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $1.13 EPS for the quarter, topping analysts' consensus estimates of $0.88 by $0.25. The company had revenue of $4.42 billion for the quarter, compared to analysts' expectations of $4.56 billion. Corteva had a net margin of 5.36% and a return on equity of 7.19%. The firm's revenue was down 1.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.89 EPS. Research analysts expect that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 2nd will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend is Monday, June 2nd. Corteva's payout ratio is 41.46%.

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.