USS Investment Management Ltd Sells 40,052 Shares of Corteva, Inc. (NYSE:CTVA)

USS Investment Management Ltd cut its holdings in Corteva, Inc. (NYSE:CTVA - Free Report) by 20.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 151,128 shares of the company's stock after selling 40,052 shares during the period. USS Investment Management Ltd's holdings in Corteva were worth $8,606,000 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 holdings in Corteva by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 79,174,847 shares of the company's stock worth $4,509,799,000 after purchasing an additional 646,459 shares during the period. Independent Franchise Partners LLP raised its stake in shares of Corteva by 51.5% in the fourth quarter. Independent Franchise Partners LLP now owns 16,496,508 shares of the company's stock worth $939,641,000 after buying an additional 5,604,838 shares during the period. Franklin Resources Inc. grew its stake in shares of Corteva by 9.2% during the 4th quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company's stock valued at $919,507,000 after acquiring an additional 1,354,418 shares during the period. Capital World Investors increased its holdings in Corteva by 2,874.6% in the 4th quarter. Capital World Investors now owns 12,812,151 shares of the company's stock worth $729,780,000 after acquiring an additional 12,381,436 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Corteva by 5.5% during the 4th quarter. Northern Trust Corp now owns 11,648,890 shares of the company's stock worth $663,521,000 after acquiring an additional 608,898 shares during the period. 81.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CTVA shares. Citigroup upped their price target on shares of Corteva from $75.00 to $78.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. KeyCorp increased their price target on Corteva from $71.00 to $72.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Bank of America raised their price target on Corteva from $69.00 to $73.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. Morgan Stanley upped their price objective on Corteva from $65.00 to $71.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Finally, UBS Group increased their target price on Corteva from $74.00 to $76.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, Corteva presently has a consensus rating of "Moderate Buy" and an average target price of $70.50.

Corteva Price Performance

Shares of CTVA traded up $0.94 during mid-day trading on Tuesday, hitting $70.00. 1,600,589 shares of the stock were exchanged, compared to its average volume of 3,289,401. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45. The company has a market cap of $47.75 billion, a PE ratio of 54.27, a price-to-earnings-growth ratio of 1.68 and a beta of 0.72. Corteva, Inc. has a 52-week low of $50.01 and a 52-week high of $70.29. The firm has a 50-day moving average of $62.62 and a two-hundred day moving average of $61.34.

Corteva (NYSE:CTVA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.25. Corteva had a net margin of 5.36% and a return on equity of 7.19%. The company had revenue of $4.42 billion for the quarter, compared to analysts' expectations of $4.56 billion. During the same quarter in the previous year, the business posted $0.89 earnings per share. Corteva's quarterly revenue was down 1.7% on a year-over-year basis. On average, equities analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 2nd will be given a $0.17 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.68 annualized dividend and a yield of 0.97%. Corteva's dividend payout ratio is currently 41.46%.

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.