TCV Trust & Wealth Management Inc. Buys New Stake in Corteva, Inc. (NYSE:CTVA)

TCV Trust & Wealth Management Inc. bought a new stake in Corteva, Inc. (NYSE:CTVA) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 3,489 shares of the company’s stock, valued at approximately $205,000.

Other hedge funds have also recently modified their holdings of the company. Anomaly Capital Management LP acquired a new stake in shares of Corteva in the 2nd quarter valued at approximately $188,578,000. Vaughan Nelson Investment Management L.P. lifted its holdings in Corteva by 392.3% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 4,083,685 shares of the company’s stock valued at $220,274,000 after acquiring an additional 3,254,126 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Corteva by 28.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,842,907 shares of the company’s stock worth $369,106,000 after purchasing an additional 1,514,954 shares during the period. Panagora Asset Management Inc. increased its holdings in shares of Corteva by 700.2% in the 2nd quarter. Panagora Asset Management Inc. now owns 1,301,996 shares of the company’s stock valued at $70,230,000 after purchasing an additional 1,139,297 shares in the last quarter. Finally, Natixis Advisors LLC lifted its stake in shares of Corteva by 155.7% in the second quarter. Natixis Advisors LLC now owns 1,694,214 shares of the company’s stock valued at $91,389,000 after purchasing an additional 1,031,678 shares during the period. 81.54% of the stock is owned by institutional investors and hedge funds.

Corteva Trading Down 0.7 %

Shares of CTVA stock opened at $60.35 on Monday. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.10. Corteva, Inc. has a fifty-two week low of $43.22 and a fifty-two week high of $61.21. The stock has a market cap of $42.06 billion, a price-to-earnings ratio of 76.39, a price-to-earnings-growth ratio of 1.66 and a beta of 0.77. The firm’s 50 day moving average price is $57.13 and its two-hundred day moving average price is $55.16.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.09. Corteva had a net margin of 5.31% and a return on equity of 7.30%. The company had revenue of $6.11 billion during the quarter, compared to the consensus estimate of $6.15 billion. During the same quarter last year, the company earned $1.60 earnings per share. Corteva’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, analysts anticipate that Corteva, Inc. will post 2.66 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Citigroup initiated coverage on shares of Corteva in a report on Wednesday, October 23rd. They issued a “buy” rating and a $68.00 target price for the company. Bank of America upgraded Corteva from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $59.00 to $67.00 in a research report on Wednesday, October 16th. Morgan Stanley restated an “overweight” rating and issued a $65.00 price target on shares of Corteva in a research report on Tuesday, September 24th. Argus lowered shares of Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Finally, Wells Fargo & Company dropped their target price on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $62.84.

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.