Russell Investments Group Ltd. Has $41.48 Million Holdings in Corteva, Inc. $CTVA

Key Points

• Russell Investments Group Ltd. increased its stake in Corteva, Inc. by 38.5%, owning 659,198 shares valued at approximately $41.48 million after acquiring 183,283 shares in Q1.
• Corteva reported $2.20 EPS for the last quarter, exceeding analyst estimates of $1.89, while revenue also surpassed expectations at $6.46 billion, a 5.6% increase year-over-year.
• The company has announced a quarterly dividend increase from $0.17 to $0.18, representing an annual yield of 1.0% and a payout ratio of 33.17%.

Russell Investments Group Ltd. raised its stake in Corteva, Inc. (NYSE:CTVA - Free Report) by 38.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 659,198 shares of the company's stock after buying an additional 183,283 shares during the quarter. Russell Investments Group Ltd. owned 0.10% of Corteva worth $41,480,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CTVA. Resona Asset Management Co. Ltd. increased its position in shares of Corteva by 7.3% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 217,978 shares of the company's stock valued at $13,658,000 after buying an additional 14,785 shares in the last quarter. HighTower Advisors LLC increased its holdings in shares of Corteva by 0.9% in the first quarter. HighTower Advisors LLC now owns 166,822 shares of the company's stock worth $10,498,000 after acquiring an additional 1,454 shares in the last quarter. Public Sector Pension Investment Board raised its position in shares of Corteva by 9.0% during the first quarter. Public Sector Pension Investment Board now owns 93,110 shares of the company's stock worth $5,859,000 after purchasing an additional 7,719 shares during the period. AIA Group Ltd lifted its holdings in shares of Corteva by 52.9% during the 1st quarter. AIA Group Ltd now owns 65,914 shares of the company's stock valued at $4,148,000 after purchasing an additional 22,817 shares in the last quarter. Finally, Independent Advisor Alliance lifted its stake in Corteva by 3.9% in the first quarter. Independent Advisor Alliance now owns 10,705 shares of the company's stock valued at $674,000 after buying an additional 398 shares in the last quarter. Institutional investors own 81.54% of the company's stock.

Analysts Set New Price Targets

CTVA has been the subject of several research reports. Zacks Research raised shares of Corteva to a "hold" rating in a research report on Friday, August 8th. KeyCorp lifted their price target on Corteva from $84.00 to $85.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. BMO Capital Markets upped their price objective on Corteva from $74.00 to $86.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Wall Street Zen raised Corteva from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Finally, Barclays upgraded Corteva from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $75.00 to $84.00 in a research note on Wednesday, August 13th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Corteva currently has an average rating of "Moderate Buy" and an average price target of $80.25.

Corteva Stock Performance

NYSE CTVA traded up $0.56 on Monday, hitting $72.32. 1,508,495 shares of the stock were exchanged, compared to its average volume of 3,796,757. The company has a market capitalization of $49.11 billion, a PE ratio of 35.30, a P/E/G ratio of 1.64 and a beta of 0.75. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.68 and a quick ratio of 1.23. The business's fifty day moving average is $73.35 and its 200 day moving average is $66.81. Corteva, Inc. has a 52 week low of $53.40 and a 52 week high of $77.41.

Corteva (NYSE:CTVA - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $2.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.89 by $0.31. Corteva had a net margin of 8.16% and a return on equity of 8.68%. The company had revenue of $6.46 billion for the quarter, compared to analysts' expectations of $6.26 billion. During the same period in the prior year, the firm earned $1.83 EPS. Corteva's quarterly 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 fiscal year.

Corteva Increases Dividend

The firm 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 dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.72 annualized dividend and a yield of 1.0%. This is a positive change from Corteva's previous quarterly dividend of $0.17. Corteva's 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.