Strs Ohio Sells 205,000 Shares of Corteva, Inc. (NYSE:CTVA)

Strs Ohio decreased its stake in Corteva, Inc. (NYSE:CTVA - Free Report) by 43.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 271,522 shares of the company's stock after selling 205,000 shares during the period. Strs Ohio's holdings in Corteva were worth $13,011,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cornerstone Planning Group LLC acquired a new position in Corteva in the 2nd quarter valued at approximately $28,000. CVA Family Office LLC acquired a new position in Corteva in the 4th quarter valued at approximately $25,000. PCA Investment Advisory Services Inc. acquired a new position in Corteva in the 2nd quarter valued at approximately $31,000. NewSquare Capital LLC increased its position in Corteva by 70.6% in the 3rd quarter. NewSquare Capital LLC now owns 546 shares of the company's stock valued at $28,000 after acquiring an additional 226 shares during the period. Finally, Glass Jacobson Investment Advisors llc increased its position in Corteva by 234.3% in the 3rd quarter. Glass Jacobson Investment Advisors llc now owns 555 shares of the company's stock valued at $28,000 after acquiring an additional 389 shares during the period. Institutional investors own 81.54% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on CTVA. Wolfe Research began coverage on shares of Corteva in a research report on Friday, March 1st. They issued an "outperform" rating and a $67.00 price target for the company. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $57.00 price objective (down from $58.00) on shares of Corteva in a research report on Friday, April 12th. Wells Fargo & Company increased their price objective on shares of Corteva from $54.00 to $65.00 and gave the stock an "overweight" rating in a research report on Friday, February 2nd. BNP Paribas upgraded shares of Corteva from an "underperform" rating to a "neutral" rating and set a $53.00 price objective for the company in a research report on Friday, February 2nd. Finally, Oppenheimer increased their price objective on shares of Corteva from $62.00 to $67.00 and gave the stock an "outperform" rating in a research report on Tuesday. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $63.29.

Corteva Stock Performance

CTVA stock traded up $0.21 during mid-day trading on Wednesday, hitting $53.53. The company had a trading volume of 2,656,520 shares, compared to its average volume of 3,660,271. The firm has a market cap of $37.41 billion, a PE ratio of 52.28, a price-to-earnings-growth ratio of 1.40 and a beta of 0.77. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.90 and a current ratio of 1.56. Corteva, Inc. has a 12 month low of $43.22 and a 12 month high of $63.06. The stock's fifty day moving average price is $55.20 and its two-hundred day moving average price is $50.22.

Corteva (NYSE:CTVA - Get Free Report) last posted its earnings results on Thursday, February 1st. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.09. The firm had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.54 billion. Corteva had a net margin of 4.27% and a return on equity of 7.43%. During the same quarter last year, the company earned $0.16 earnings per share. On average, analysts forecast that Corteva, Inc. will post 2.86 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.16 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.64 annualized dividend and a dividend yield of 1.20%. Corteva's payout ratio is 62.75%.

About Corteva

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.