Mitsubishi UFJ Trust & Banking Corp Raises Holdings in Corteva, Inc. (NYSE:CTVA)

Mitsubishi UFJ Trust & Banking Corp lifted its position in Corteva, Inc. (NYSE:CTVA) by 0.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 333,616 shares of the company’s stock after purchasing an additional 1,828 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Corteva were worth $19,003,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Flagship Wealth Advisors LLC purchased a new stake in Corteva during the fourth quarter valued at $25,000. Noble Wealth Management PBC purchased a new stake in Corteva during the fourth quarter valued at approximately $26,000. Hager Investment Management Services LLC purchased a new stake in Corteva during the 4th quarter valued at $27,000. Golden State Wealth Management LLC bought a new stake in Corteva in the fourth quarter worth $32,000. Finally, Centricity Wealth Management LLC bought a new position in Corteva during the fourth quarter valued at $34,000. 81.54% of the stock is owned by institutional investors.

Insider Transactions at Corteva

In other news, insider Brian Titus sold 26,560 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 11,347 shares of the company’s stock, valued at $723,257.78. The trade was a 70.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.14% of the company’s stock.

Corteva Stock Down 0.3 %

Shares of CTVA opened at $62.54 on Friday. The company has a market capitalization of $42.88 billion, a price-to-earnings ratio of 48.48, a PEG ratio of 1.68 and a beta of 0.79. Corteva, Inc. has a 52 week low of $50.01 and a 52 week high of $66.24. The stock’s 50-day moving average price is $62.56 and its 200-day moving average price is $60.03. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). Corteva had a return on equity of 7.19% and a net margin of 5.36%. On average, sell-side analysts predict that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date was Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is presently 52.71%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Royal Bank of Canada raised their price target on Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Barclays upped their price target on shares of Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. KeyCorp upped their target price on Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Oppenheimer raised their price target on shares of Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Finally, BNP Paribas raised shares of Corteva to a “hold” rating in a research report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $68.00.

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.