13,401 Shares in Corteva, Inc. (NYSE:CTVA) Bought by William Blair Investment Management LLC

William Blair Investment Management LLC bought a new position in shares of Corteva, Inc. (NYSE:CTVA) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 13,401 shares of the company’s stock, valued at approximately $723,000.

Other large investors also recently bought and sold shares of the company. Capital International Investors boosted its position in shares of Corteva by 47.2% in the 4th quarter. Capital International Investors now owns 25,758,735 shares of the company’s stock worth $1,234,359,000 after buying an additional 8,260,808 shares in the last quarter. Norges Bank purchased a new stake in shares of Corteva in the fourth quarter valued at about $265,298,000. Harris Associates L P grew its position in shares of Corteva by 87.1% in the fourth quarter. Harris Associates L P now owns 9,011,702 shares of the company’s stock valued at $431,841,000 after purchasing an additional 4,194,981 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in shares of Corteva by 392.3% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 4,083,685 shares of the company’s stock worth $220,274,000 after purchasing an additional 3,254,126 shares in the last quarter. Finally, Glenview Capital Management LLC raised its position in shares of Corteva by 116.6% during the 4th quarter. Glenview Capital Management LLC now owns 4,698,725 shares of the company’s stock worth $225,163,000 after purchasing an additional 2,529,539 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Stock Performance

NYSE CTVA opened at $56.27 on Tuesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.72 and a quick ratio of 1.17. Corteva, Inc. has a 1-year low of $43.22 and a 1-year high of $58.76. The firm has a market capitalization of $38.95 billion, a P/E ratio of 71.23, a P/E/G ratio of 1.60 and a beta of 0.77. The business’s 50-day simple moving average is $54.21 and its 200-day simple moving average is $54.66.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.09. Corteva had a net margin of 5.31% and a return on equity of 7.30%. The firm had revenue of $6.11 billion for the quarter, compared to analysts’ expectations of $6.15 billion. During the same period in the previous year, the company posted $1.60 earnings per share. Corteva’s revenue was up 1.1% compared to the same quarter last year. Equities analysts predict that Corteva, Inc. will post 2.69 EPS for the current year.

Corteva Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Tuesday, September 3rd. This is a boost from Corteva’s previous quarterly dividend of $0.16. Corteva’s payout ratio is currently 86.08%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on CTVA shares. Wells Fargo & Company lowered their target price on Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $65.00 price objective on shares of Corteva in a research report on Wednesday, June 12th. Mizuho reduced their target price on shares of Corteva from $61.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, June 18th. KeyCorp lowered their price target on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $61.67.

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.