Legal & General Group Plc Acquires Shares of 5,701,220 Corteva, Inc. $CTVA

by · The Markets Daily

Legal & General Group Plc bought a new position in Corteva, Inc. (NYSE:CTVA – Free Report) during the second quarter, HoldingsChannel.com reports. The fund bought 5,701,220 shares of the company’s stock, valued at approximately $482,836,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. William B. Walkup & Associates Inc. boosted its stake in shares of Corteva by 2.9% during the first quarter. William B. Walkup & Associates Inc. now owns 4,457 shares of the company’s stock valued at $373,000 after purchasing an additional 126 shares during the period. Wilkerson Advisory Group LLC increased its stake in Corteva by 6.7% in the 1st quarter. Wilkerson Advisory Group LLC now owns 2,112 shares of the company’s stock worth $177,000 after buying an additional 133 shares during the period. AdvisorNet Financial Inc lifted its holdings in Corteva by 2.4% during the 1st quarter. AdvisorNet Financial Inc now owns 5,694 shares of the company’s stock valued at $477,000 after buying an additional 135 shares in the last quarter. First Horizon Corp lifted its holdings in Corteva by 9.2% during the 1st quarter. First Horizon Corp now owns 1,600 shares of the company’s stock valued at $134,000 after buying an additional 135 shares in the last quarter. Finally, Aviance Capital Partners LLC boosted its position in Corteva by 1.3% in the 1st quarter. Aviance Capital Partners LLC now owns 11,008 shares of the company’s stock valued at $922,000 after buying an additional 137 shares during the period. 81.54% of the stock is currently owned by institutional investors.

Corteva Trading Up 0.4%

NYSE CTVA opened at $83.18 on Wednesday. Corteva, Inc. has a one year low of $60.53 and a one year high of $90.97. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.10 and a current ratio of 1.52. The company has a market capitalization of $55.50 billion, a price-to-earnings ratio of 55.09, a price-to-earnings-growth ratio of 2.54 and a beta of 0.57. The company’s 50-day simple moving average is $82.39 and its two-hundred day simple moving average is $80.37.

Corteva (NYSE:CTVA – Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.24 by $0.06. Corteva had a net margin of 5.66% and a return on equity of 10.18%. The firm had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $6.60 billion. During the same quarter in the prior year, the company earned $2.20 EPS. The company’s revenue was down 1.2% compared to the same quarter last year. Corteva has set its FY 2026 guidance at 3.600-3.800 EPS. Equities analysts forecast that Corteva, Inc. will post 3.72 EPS for the current fiscal year.

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Tuesday, September 1st. Corteva’s dividend payout ratio is 47.68%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CTVA. Rothschild & Co Redburn upped their target price on shares of Corteva from $80.00 to $90.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Jefferies Financial Group lifted their price target on shares of Corteva from $95.00 to $97.00 in a research note on Thursday, May 7th. JPMorgan Chase & Co. increased their price objective on Corteva from $77.00 to $83.00 and gave the stock a “neutral” rating in a research note on Monday, August 3rd. BNP Paribas Exane raised their price objective on Corteva from $74.00 to $77.00 in a report on Wednesday, May 6th. Finally, Zacks Research lowered Corteva from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th. Fourteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $91.50.

Get Our Latest Stock Report on Corteva

Corteva Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding CTVA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Corteva, Inc. (NYSE:CTVA – Free Report).