Factory Mutual Insurance Co. Acquires 51,500 Shares of Corteva, Inc. (NYSE:CTVA)

Factory Mutual Insurance Co. raised its holdings in Corteva, Inc. (NYSE:CTVA - Free Report) by 10.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 532,558 shares of the company's stock after purchasing an additional 51,500 shares during the quarter. Factory Mutual Insurance Co. owned 0.08% of Corteva worth $25,520,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Fairfield Bush & CO. bought a new position in shares of Corteva in the 1st quarter worth about $45,000. Cibc World Market Inc. raised its position in shares of Corteva by 420.1% in the 1st quarter. Cibc World Market Inc. now owns 37,890 shares of the company's stock worth $2,178,000 after acquiring an additional 30,605 shares in the last quarter. Blair William & Co. IL raised its position in shares of Corteva by 2.9% in the 1st quarter. Blair William & Co. IL now owns 94,498 shares of the company's stock worth $5,432,000 after acquiring an additional 2,662 shares in the last quarter. Aviva PLC grew its stake in shares of Corteva by 38.1% in the 1st quarter. Aviva PLC now owns 146,289 shares of the company's stock valued at $8,409,000 after buying an additional 40,391 shares during the period. Finally, Prudential PLC acquired a new stake in shares of Corteva in the 1st quarter valued at about $799,000. Institutional investors and hedge funds own 81.54% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CTVA shares. BNP Paribas upgraded Corteva from an "underperform" rating to a "neutral" rating and set a $53.00 target price for the company in a research note on Friday, February 2nd. UBS Group cut their price target on Corteva from $65.00 to $64.00 and set a "buy" rating for the company in a research note on Thursday, January 11th. Oppenheimer lifted their price target on Corteva from $60.00 to $62.00 and gave the company an "outperform" rating in a research note on Friday, February 2nd. Royal Bank of Canada lifted their price target on Corteva from $56.00 to $64.00 and gave the company an "outperform" rating in a research note on Friday, February 2nd. Finally, KeyCorp lifted their target price on shares of Corteva from $62.00 to $63.00 and gave the stock an "overweight" rating in a research report on Friday, February 2nd. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, Corteva currently has a consensus rating of "Moderate Buy" and a consensus price target of $63.14.

Corteva Price Performance

Shares of CTVA traded down $0.46 during mid-day trading on Thursday, reaching $56.95. 2,596,034 shares of the stock traded hands, compared to its average volume of 3,798,468. The firm has a fifty day moving average price of $54.16 and a 200 day moving average price of $49.99. The company has a market cap of $39.80 billion, a price-to-earnings ratio of 55.83, a price-to-earnings-growth ratio of 1.47 and a beta of 0.77. The company has a current ratio of 1.56, a quick ratio of 0.90 and a debt-to-equity ratio of 0.09. Corteva, Inc. has a 1 year low of $43.22 and a 1 year high of $63.37.

Corteva (NYSE:CTVA - Get Free Report) last released its quarterly earnings results on Thursday, February 1st. The company reported $0.15 EPS for the quarter, beating analysts' consensus estimates of $0.06 by $0.09. The firm had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.54 billion. Corteva had a net margin of 4.27% and a return on equity of 7.43%. During the same period in the previous year, the business earned $0.16 EPS. As a group, equities research analysts predict that Corteva, Inc. will post 2.87 earnings per share for the current year.

Corteva Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a $0.16 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.64 annualized dividend and a yield of 1.12%. Corteva's dividend payout ratio (DPR) is presently 62.75%.

Corteva 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.