North Dakota State Investment Board Buys Shares of 23,466 Corteva, Inc. $CTVA

Key Points

• North Dakota State Investment Board opened a new position in Corteva, buying 23,466 shares valued at about $1.57 million in the fourth quarter.
• Corteva reported better-than-expected quarterly results, posting EPS of $1.50 versus the $1.18 estimate and revenue of $4.91 billion, up 11% year over year.
• The company also announced a quarterly dividend of $0.18 per share, while analysts currently rate the stock a Moderate Buy with a consensus target price of $88.14.

North Dakota State Investment Board bought a new stake in shares of Corteva, Inc. (NYSE:CTVA - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 23,466 shares of the company's stock, valued at approximately $1,573,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Drive Wealth Management LLC increased its stake in Corteva by 3.8% during the fourth quarter. Drive Wealth Management LLC now owns 4,259 shares of the company's stock valued at $285,000 after purchasing an additional 156 shares during the last quarter. Reynders McVeigh Capital Management LLC grew its position in shares of Corteva by 2.9% during the fourth quarter. Reynders McVeigh Capital Management LLC now owns 5,686 shares of the company's stock worth $381,000 after acquiring an additional 160 shares during the last quarter. Chesapeake Capital Corp IL grew its position in shares of Corteva by 0.9% during the fourth quarter. Chesapeake Capital Corp IL now owns 18,035 shares of the company's stock worth $1,209,000 after acquiring an additional 161 shares during the last quarter. Fox Run Management L.L.C. grew its position in shares of Corteva by 5.1% during the third quarter. Fox Run Management L.L.C. now owns 3,361 shares of the company's stock worth $227,000 after acquiring an additional 164 shares during the last quarter. Finally, IFG Advisory LLC grew its position in shares of Corteva by 1.7% during the third quarter. IFG Advisory LLC now owns 9,764 shares of the company's stock worth $660,000 after acquiring an additional 166 shares during the last quarter. Institutional investors own 81.54% of the company's stock.

Corteva Price Performance

Shares of NYSE CTVA opened at $78.93 on Wednesday. Corteva, Inc. has a twelve month low of $60.53 and a twelve month high of $85.63. The company has a current ratio of 1.47, a quick ratio of 1.03 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $52.79 billion, a price-to-earnings ratio of 46.43, a PEG ratio of 2.49 and a beta of 0.59. The firm has a 50-day moving average of $81.24 and a two-hundred day moving average of $73.67.

Corteva (NYSE:CTVA - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $1.50 earnings per share for the quarter, beating analysts' consensus estimates of $1.18 by $0.32. Corteva had a net margin of 6.50% and a return on equity of 9.95%. The company had revenue of $4.91 billion during the quarter, compared to the consensus estimate of $4.64 billion. During the same period in the prior year, the company earned $1.13 EPS. Corteva's revenue was up 11.0% on a year-over-year basis. Corteva has set its FY 2026 guidance at 3.450-3.700 EPS. As a group, analysts expect that Corteva, Inc. will post 3.7 earnings per share for the current fiscal year.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $0.72 dividend on an annualized basis and a yield of 0.9%. Corteva's dividend payout ratio is currently 42.35%.

Insider Buying and Selling

In other Corteva news, insider Brian Titus sold 8,311 shares of the company's stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $76.55, for a total transaction of $636,207.05. Following the completion of the sale, the insider directly owned 8,090 shares of the company's stock, valued at approximately $619,289.50. This represents a 50.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.15% of the company's stock.

Wall Street Analysts Forecast Growth

CTVA has been the subject of several recent research reports. Wells Fargo & Company upped their price target on shares of Corteva from $85.00 to $90.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 21st. UBS Group upped their price target on shares of Corteva from $88.00 to $90.00 and gave the stock a "neutral" rating in a research report on Thursday, May 7th. The Goldman Sachs Group increased their target price on shares of Corteva from $88.00 to $96.00 and gave the company a "buy" rating in a research report on Tuesday, April 14th. Zacks Research lowered shares of Corteva from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 20th. Finally, JPMorgan Chase & Co. lowered shares of Corteva from an "overweight" rating to a "neutral" rating and increased their target price for the company from $75.00 to $77.00 in a research report on Thursday, February 5th. Thirteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, Corteva presently has an average rating of "Moderate Buy" and a consensus target price of $88.14.

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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