Northwest & Ethical Investments L.P. Raises Stock Position in Corteva, Inc. $CTVA

Key Points

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Northwest & Ethical Investments L.P. grew its holdings in Corteva, Inc. (NYSE:CTVA - Free Report) by 42.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,651 shares of the company's stock after acquiring an additional 6,697 shares during the period. Northwest & Ethical Investments L.P.'s holdings in Corteva were worth $1,425,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Corteva by 0.8% in the first quarter. Vanguard Group Inc. now owns 79,814,646 shares of the company's stock worth $5,022,736,000 after acquiring an additional 639,799 shares during the period. Northern Trust Corp increased its stake in shares of Corteva by 5.5% in the fourth quarter. Northern Trust Corp now owns 11,648,890 shares of the company's stock worth $663,521,000 after purchasing an additional 608,898 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Corteva in the first quarter worth $640,333,000. WCM Investment Management LLC increased its stake in shares of Corteva by 1.4% in the first quarter. WCM Investment Management LLC now owns 6,978,187 shares of the company's stock worth $426,088,000 after purchasing an additional 98,770 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Corteva by 54.6% in the first quarter. JPMorgan Chase & Co. now owns 5,009,038 shares of the company's stock worth $315,219,000 after purchasing an additional 1,769,355 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on CTVA shares. Royal Bank Of Canada reissued an "outperform" rating on shares of Corteva in a research note on Monday, August 11th. UBS Group increased their price objective 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. KeyCorp increased their price objective on shares of Corteva from $84.00 to $85.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Oppenheimer set a $87.00 price objective on shares of Corteva and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. Finally, Citigroup increased their price objective on shares of Corteva from $75.00 to $78.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Thirteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $80.25.

Corteva Price Performance

CTVA traded up $0.3350 during trading on Friday, hitting $73.3150. 2,664,002 shares of the company traded hands, compared to its average volume of 4,041,995. The company has a market cap of $49.79 billion, a PE ratio of 35.76, a P/E/G ratio of 1.68 and a beta of 0.75. The stock's 50-day simple moving average is $73.42 and its two-hundred day simple moving average is $67.10. Corteva, Inc. has a 1 year low of $53.40 and a 1 year high of $77.41. The company has a current ratio of 1.68, a quick ratio of 1.23 and a debt-to-equity ratio of 0.06.

Corteva (NYSE:CTVA - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $2.20 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.31. The company had revenue of $6.46 billion during the quarter, compared to analysts' expectations of $6.26 billion. Corteva had a net margin of 8.16% and a return on equity of 8.68%. Corteva's quarterly revenue was up 5.6% on a year-over-year basis. During the same period last year, the company posted $1.83 earnings per share. As a group, sell-side analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Increases Dividend

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

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.