MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $5.86 Million Stock Position in Corteva, Inc. $CTVA

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Corteva, Inc. by 14.9% in the first quarter, holding 93,145 shares valued at approximately $5.86 million.
• Corteva recently declared a quarterly dividend of $0.18, up from the previous $0.17, indicating a commitment to return value to shareholders.
• The company's quarterly earnings surpassed expectations, with reported earnings of $2.20 per share, exceeding analysts' estimates by $0.31.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 14.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 93,145 shares of the company's stock after buying an additional 12,078 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Corteva were worth $5,862,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CTVA. Brighton Jones LLC grew its stake in Corteva by 307.2% in the fourth quarter. Brighton Jones LLC now owns 15,588 shares of the company's stock valued at $888,000 after purchasing an additional 11,760 shares in the last quarter. Focus Partners Wealth grew its stake in Corteva by 5.3% in the fourth quarter. Focus Partners Wealth now owns 60,453 shares of the company's stock valued at $3,429,000 after purchasing an additional 3,047 shares in the last quarter. Gotham Asset Management LLC purchased a new position in Corteva in the fourth quarter valued at about $4,007,000. OMERS ADMINISTRATION Corp grew its stake in Corteva by 20.0% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 29,315 shares of the company's stock valued at $1,670,000 after purchasing an additional 4,884 shares in the last quarter. Finally, Occudo Quantitative Strategies LP purchased a new position in Corteva in the fourth quarter valued at about $538,000. Hedge funds and other institutional investors own 81.54% of the company's stock.

Corteva Price Performance

NYSE CTVA opened at $71.79 on Thursday. Corteva, Inc. has a twelve month low of $53.40 and a twelve month high of $77.41. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.23 and a current ratio of 1.68. The stock has a market capitalization of $48.75 billion, a PE ratio of 35.02, a P/E/G ratio of 1.66 and a beta of 0.78. The stock has a 50-day simple moving average of $73.16 and a 200 day simple moving average of $67.96.

Corteva (NYSE:CTVA - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.31. Corteva had a return on equity of 8.68% and a net margin of 8.16%.The business had revenue of $6.46 billion during the quarter, compared to analysts' expectations of $6.26 billion. During the same quarter in the previous year, the firm earned $1.83 EPS. The firm's revenue was up 5.6% compared to the same quarter last year. Research analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Increases Dividend

The company also recently declared 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 is a positive change from Corteva's previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.72 annualized dividend and a yield of 1.0%. Corteva's payout ratio is currently 35.12%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Wells Fargo & Company restated an "overweight" rating and issued a $83.00 target price (up previously from $82.00) on shares of Corteva in a research note on Friday, August 8th. UBS Group upped their price target on Corteva from $90.00 to $91.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Zacks Research upgraded Corteva to a "hold" rating in a research note on Friday, August 8th. Wall Street Zen upgraded Corteva from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, Royal Bank Of Canada reiterated an "outperform" rating on shares of Corteva in a research note on Monday, August 11th. Twelve investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Corteva presently has an average rating of "Moderate Buy" and a consensus target price of $80.25.

Insider Buying and Selling

In other Corteva news, EVP Robert D. King sold 37,280 shares of the company's stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $74.20, for a total value of $2,766,176.00. Following the completion of the transaction, the executive vice president owned 49,262 shares of the company's stock, valued at $3,655,240.40. This represents a 43.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.14% of the stock is currently owned by company insiders.

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.

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