Magnetar Financial LLC Invests $7.89 Million in Corteva, Inc. $CTVA

Key Points

• Magnetar Financial bought a new stake of 116,713 Corteva shares worth about $7.89 million in Q3, and institutional investors now own roughly 81.54% of the company.
• Analysts have an average rating of "Moderate Buy" on Corteva with an average price target of $82.90, though several firms recently moved from buy to hold while others raised targets.
• Insider Brian Titus sold 8,311 shares (about $636,000), and Corteva declared a quarterly dividend of $0.18 ($0.72 annual, ~0.9% yield) with an ex-dividend date of March 2.

Magnetar Financial LLC purchased a new stake in shares of Corteva, Inc. (NYSE:CTVA - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 116,713 shares of the company's stock, valued at approximately $7,893,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank of Montreal Can boosted its stake in Corteva by 3.0% in the 3rd quarter. Bank of Montreal Can now owns 678,799 shares of the company's stock worth $45,907,000 after purchasing an additional 19,478 shares during the period. Legal & General Group Plc lifted its holdings in shares of Corteva by 14.3% in the third quarter. Legal & General Group Plc now owns 5,753,982 shares of the company's stock valued at $389,142,000 after purchasing an additional 720,469 shares in the last quarter. Banque Cantonale Vaudoise boosted its position in shares of Corteva by 41.6% in the third quarter. Banque Cantonale Vaudoise now owns 4,110 shares of the company's stock worth $278,000 after buying an additional 1,208 shares during the period. Fieldview Capital Management LLC acquired a new stake in shares of Corteva in the third quarter worth $4,790,000. Finally, WINTON GROUP Ltd purchased a new position in shares of Corteva during the third quarter valued at $5,704,000. Institutional investors and hedge funds own 81.54% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CTVA shares. Wall Street Zen downgraded Corteva from a "buy" rating to a "hold" rating in a research note on Saturday, February 7th. UBS Group cut Corteva from a "buy" rating to a "hold" rating in a research note on Monday, February 9th. BNP Paribas Exane increased their price target on shares of Corteva from $72.00 to $74.00 in a research report on Monday. Mizuho raised their price target on shares of Corteva from $80.00 to $82.00 and gave the stock an "outperform" rating in a report on Tuesday, February 17th. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Corteva in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $82.90.

Insider Buying and Selling

In other news, insider Brian Titus sold 8,311 shares of the stock in a transaction on 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.15% of the stock is owned by corporate insiders.

Corteva Stock Performance

Shares of NYSE CTVA opened at $76.30 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.43 and a quick ratio of 0.96. Corteva, Inc. has a one year low of $53.40 and a one year high of $80.90. The business's 50-day moving average price is $73.40 and its two-hundred day moving average price is $69.06. The company has a market capitalization of $51.31 billion, a P/E ratio of 48.29, a price-to-earnings-growth ratio of 2.68 and a beta of 0.72.

Corteva (NYSE:CTVA - Get Free Report) last posted its quarterly earnings results on Tuesday, February 3rd. The company reported $0.22 earnings per share for the quarter, hitting analysts' consensus estimates of $0.22. The company had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $4.23 billion. Corteva had a return on equity of 9.06% and a net margin of 6.29%.The business's quarterly revenue was down 1.7% on a year-over-year basis. During the same period last year, the business earned $0.32 EPS. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. Analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be paid a $0.18 dividend. The ex-dividend date is Monday, March 2nd. This represents a $0.72 dividend on an annualized basis and a yield of 0.9%. Corteva's payout ratio is 45.57%.

Corteva Profile

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.

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