Searle & CO. Acquires 351 Shares of Corteva, Inc. (NYSE:CTVA)

Searle & CO. increased its holdings in Corteva, Inc. (NYSE:CTVA) by 2.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,208 shares of the company’s stock after acquiring an additional 351 shares during the quarter. Searle & CO.’s holdings in Corteva were worth $777,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in CTVA. Vanguard Group Inc. raised its position in shares of Corteva by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 81,346,924 shares of the company’s stock worth $4,161,709,000 after acquiring an additional 1,941,323 shares in the last quarter. Northern Trust Corp grew its stake in Corteva by 2.7% in the third quarter. Northern Trust Corp now owns 12,505,783 shares of the company’s stock worth $639,796,000 after purchasing an additional 327,321 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Corteva by 29.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 11,095,076 shares of the company’s stock worth $567,624,000 after purchasing an additional 2,545,570 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Corteva by 11.6% during the 4th quarter. Van ECK Associates Corp now owns 8,528,252 shares of the company’s stock valued at $408,674,000 after buying an additional 883,161 shares in the last quarter. Finally, WCM Investment Management LLC grew its position in shares of Corteva by 3.1% in the 4th quarter. WCM Investment Management LLC now owns 7,103,146 shares of the company’s stock worth $341,590,000 after buying an additional 213,949 shares during the period. Institutional investors own 81.54% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on CTVA. Wells Fargo & Company increased their target price on Corteva from $54.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Mizuho decreased their target price on shares of Corteva from $59.00 to $56.00 and set a “buy” rating for the company in a report on Thursday, February 1st. UBS Group cut their price target on shares of Corteva from $65.00 to $64.00 and set a “buy” rating on the stock in a report on Thursday, January 11th. Loop Capital upgraded Corteva from a “hold” rating to a “buy” rating and increased their target price for the company from $57.00 to $65.00 in a research note on Monday, February 12th. Finally, Royal Bank of Canada lifted their target price on Corteva from $56.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $63.29.

Corteva Trading Down 0.4 %

CTVA traded down $0.22 on Wednesday, reaching $53.91. 3,153,359 shares of the company traded hands, compared to its average volume of 3,512,840. The company has a quick ratio of 0.90, a current ratio of 1.56 and a debt-to-equity ratio of 0.09. The company has a market cap of $37.68 billion, a P/E ratio of 53.07, a price-to-earnings-growth ratio of 1.45 and a beta of 0.77. The firm has a fifty day simple moving average of $55.29 and a two-hundred day simple moving average of $50.54. Corteva, Inc. has a one year low of $43.22 and a one year high of $61.07.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Thursday, February 1st. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.06 by $0.09. The firm had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.54 billion. Corteva had a return on equity of 7.43% and a net margin of 4.27%. During the same quarter last year, the firm posted $0.16 earnings per share. As a group, equities research analysts expect that Corteva, Inc. will post 2.84 earnings per share for the current year.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Tuesday, June 4th. Corteva’s payout ratio is currently 62.75%.

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.