Anchor Capital Advisors LLC Has $44.89 Million Position in Corteva, Inc. $CTVA

Anchor Capital Advisors LLC trimmed its position in Corteva, Inc. (NYSE:CTVA) by 3.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 663,804 shares of the company’s stock after selling 21,413 shares during the quarter. Anchor Capital Advisors LLC owned 0.10% of Corteva worth $44,893,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Corteva in the second quarter valued at about $434,220,000. Pacer Advisors Inc. raised its stake in Corteva by 4,007.1% in the 3rd quarter. Pacer Advisors Inc. now owns 2,442,177 shares of the company’s stock worth $165,164,000 after purchasing an additional 2,382,715 shares in the last quarter. WCM Investment Management LLC boosted its holdings in Corteva by 29.6% in the 2nd quarter. WCM Investment Management LLC now owns 9,044,706 shares of the company’s stock valued at $672,836,000 after purchasing an additional 2,066,519 shares during the period. Marshall Wace LLP grew its position in shares of Corteva by 1,365.9% during the 2nd quarter. Marshall Wace LLP now owns 1,809,764 shares of the company’s stock worth $134,882,000 after purchasing an additional 1,686,309 shares in the last quarter. Finally, National Pension Service increased its holdings in shares of Corteva by 148.4% during the second quarter. National Pension Service now owns 2,454,601 shares of the company’s stock worth $182,941,000 after purchasing an additional 1,466,268 shares during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analyst Upgrades and Downgrades

CTVA has been the topic of a number of analyst reports. Bank of America increased their price target on Corteva from $80.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday, January 8th. Royal Bank Of Canada cut their target price on Corteva from $86.00 to $80.00 and set an “outperform” rating for the company in a research report on Friday, October 17th. UBS Group decreased their price target on Corteva from $85.00 to $81.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. Wolfe Research boosted their price target on Corteva from $80.00 to $81.00 and gave the company an “outperform” rating in a research note on Friday, January 16th. Finally, BNP Paribas Exane increased their price objective on shares of Corteva from $70.00 to $72.00 and gave the stock a “neutral” rating in a research note on Monday, November 17th. Sixteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $78.84.

Corteva Stock Performance

Shares of CTVA stock opened at $68.86 on Wednesday. The firm has a market capitalization of $46.53 billion, a price-to-earnings ratio of 29.43, a PEG ratio of 1.41 and a beta of 0.74. The company has a current ratio of 1.58, a quick ratio of 1.07 and a debt-to-equity ratio of 0.07. The business’s 50-day moving average price is $66.94 and its 200-day moving average price is $68.45. Corteva, Inc. has a 12 month low of $53.40 and a 12 month high of $77.41.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Tuesday, November 4th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.26. Corteva had a net margin of 9.19% and a return on equity of 9.37%. The business had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.47 billion. During the same quarter last year, the business earned ($0.49) EPS. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. Equities research analysts forecast that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $0.72 annualized dividend and a dividend yield of 1.0%. Corteva’s dividend payout ratio (DPR) is presently 30.77%.

Corteva Profile

Corteva, Inc (NYSE: CTVA) is an independent global agriculture company that was established as a publicly traded firm in mid‑2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva’s operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.

Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.