Louisiana State Employees Retirement System Invests $2.04 Million in Corteva, Inc. (NYSE:CTVA)

Louisiana State Employees Retirement System acquired a new position in shares of Corteva, Inc. (NYSE:CTVA) in the 4th quarter, Holdings Channel reports. The fund acquired 42,600 shares of the company’s stock, valued at approximately $2,041,000.

Other institutional investors have also modified their holdings of the company. CVA Family Office LLC purchased a new stake in shares of Corteva during the 4th quarter worth approximately $25,000. BKM Wealth Management LLC purchased a new stake in shares of Corteva during the 4th quarter worth approximately $27,000. NewSquare Capital LLC increased its holdings in shares of 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. Glass Jacobson Investment Advisors llc increased its holdings in shares of 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. Finally, Cornerstone Planning Group LLC acquired a new position in shares of Corteva in the 2nd quarter valued at $28,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Stock Performance

NYSE:CTVA opened at $53.53 on Thursday. The company has a quick ratio of 0.90, a current ratio of 1.56 and a debt-to-equity ratio of 0.09. Corteva, Inc. has a fifty-two week low of $43.22 and a fifty-two week high of $63.06. The stock has a market cap of $37.41 billion, a PE ratio of 52.48, a price-to-earnings-growth ratio of 1.40 and a beta of 0.77. The firm’s fifty day simple moving average is $55.19 and its 200-day simple moving average is $50.24.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Thursday, February 1st. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.06 by $0.09. Corteva had a net margin of 4.27% and a return on equity of 7.43%. The business had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.54 billion. During the same period in the previous year, the firm earned $0.16 EPS. Analysts expect that Corteva, Inc. will post 2.86 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given 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 dividend payout ratio is presently 62.75%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CTVA shares. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $57.00 target price (down from $58.00) on shares of Corteva in a report on Friday, April 12th. Wolfe Research started coverage on shares of Corteva in a report on Friday, March 1st. They issued an “outperform” rating and a $67.00 target price on the stock. Loop Capital raised shares of Corteva from a “hold” rating to a “buy” rating and lifted their target price for the company from $57.00 to $65.00 in a report on Monday, February 12th. Mizuho cut their target price on shares of Corteva from $59.00 to $56.00 and set a “buy” rating on the stock in a report on Thursday, February 1st. Finally, Oppenheimer lifted their target price on shares of Corteva from $62.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $63.29.

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.