Siemens Fonds Invest GmbH Acquires 19,347 Shares of Corteva, Inc. (NYSE:CTVA)

Siemens Fonds Invest GmbH increased its stake in Corteva, Inc. (NYSE:CTVA - Free Report) by 436.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 23,780 shares of the company's stock after purchasing an additional 19,347 shares during the quarter. Siemens Fonds Invest GmbH's holdings in Corteva were worth $1,355,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its position in Corteva by 6.7% during the third quarter. JPMorgan Chase & Co. now owns 4,605,608 shares of the company's stock worth $270,764,000 after buying an additional 288,885 shares in the last quarter. Wedmont Private Capital raised its position in shares of Corteva by 16.5% during the 4th quarter. Wedmont Private Capital now owns 4,708 shares of the company's stock valued at $269,000 after buying an additional 668 shares in the last quarter. SeaCrest Wealth Management LLC lifted its holdings in shares of Corteva by 4.0% during the 4th quarter. SeaCrest Wealth Management LLC now owns 6,288 shares of the company's stock worth $358,000 after acquiring an additional 244 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Corteva by 755.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 552,769 shares of the company's stock worth $31,486,000 after acquiring an additional 488,181 shares in the last quarter. Finally, Burney Co. raised its position in Corteva by 6.3% during the fourth quarter. Burney Co. now owns 4,505 shares of the company's stock valued at $257,000 after purchasing an additional 266 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company's stock.

Corteva Stock Performance

NYSE:CTVA opened at $68.58 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. The firm's fifty day simple moving average is $61.61 and its 200 day simple moving average is $60.99. The stock has a market cap of $46.84 billion, a P/E ratio of 53.16, a price-to-earnings-growth ratio of 1.68 and a beta of 0.72. Corteva, Inc. has a twelve month low of $50.01 and a twelve month high of $69.28.

Corteva (NYSE:CTVA - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $1.13 EPS 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 firm had revenue of $4.42 billion during the quarter, compared to analysts' expectations of $4.56 billion. During the same period last year, the company posted $0.89 EPS. The company's quarterly revenue was down 1.7% compared to the same quarter last year. As a group, research analysts predict that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 2nd will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.99%. Corteva's dividend payout ratio (DPR) is 41.46%.

Insider Transactions at Corteva

In other Corteva news, insider Brian Titus sold 26,560 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the completion of the transaction, the insider now owns 11,347 shares of the company's stock, valued at approximately $723,257.78. This trade represents a 70.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.14% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CTVA shares. The Goldman Sachs Group assumed coverage on Corteva in a report on Thursday, March 13th. They issued a "buy" rating and a $71.00 price objective for the company. Bank of America increased their target price on shares of Corteva from $69.00 to $73.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. BNP Paribas raised shares of Corteva to a "hold" rating in a research note on Monday, February 10th. KeyCorp increased their target price on Corteva from $71.00 to $72.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $75.00 price target (up from $72.00) on shares of Corteva in a research note on Friday, May 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, Corteva presently has an average rating of "Moderate Buy" and an average price target of $70.50.

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.

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