Elo Mutual Pension Insurance Co Has $3.31 Million Holdings in Corteva, Inc. (NYSE:CTVA)

Elo Mutual Pension Insurance Co decreased its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 4.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 61,286 shares of the company’s stock after selling 3,106 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Corteva were worth $3,306,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CTVA. Capital International Investors grew 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 valued at $1,234,359,000 after buying an additional 8,260,808 shares during the last quarter. Harris Associates L P boosted its holdings in 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 acquiring an additional 4,194,981 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its position in 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 valued at $220,274,000 after purchasing an additional 3,254,126 shares during the period. Glenview Capital Management LLC raised its holdings in 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. Finally, Eminence Capital LP lifted its position in shares of Corteva by 73.1% in the 4th quarter. Eminence Capital LP now owns 3,796,403 shares of the company’s stock worth $181,924,000 after purchasing an additional 1,603,058 shares during the period. Institutional investors own 81.54% of the company’s stock.

Corteva Price Performance

Shares of NYSE CTVA opened at $58.60 on Friday. The stock has a market cap of $40.84 billion, a price-to-earnings ratio of 74.18, a PEG ratio of 1.60 and a beta of 0.77. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.17 and a current ratio of 1.72. Corteva, Inc. has a fifty-two week low of $43.22 and a fifty-two week high of $58.92. The firm’s 50-day simple moving average is $54.59 and its 200 day simple moving average is $54.73.

Corteva (NYSE:CTVA) last posted its 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 return on equity of 7.30% and a net margin of 5.31%. The company had revenue of $6.11 billion for the quarter, compared to analyst estimates of $6.15 billion. During the same quarter last year, the company earned $1.60 earnings per share. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, research analysts anticipate that Corteva, Inc. will post 2.69 earnings per share for the current fiscal year.

Corteva Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a $0.17 dividend. This is a positive change from Corteva’s previous quarterly dividend of $0.16. The ex-dividend date was Tuesday, September 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.16%. Corteva’s dividend payout ratio is presently 86.08%.

Wall Street Analyst Weigh In

CTVA has been the subject of a number of analyst reports. OTR Global reissued a “negative” rating on shares of Corteva in a research note on Friday, June 7th. Argus lowered Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Wells Fargo & Company dropped their price objective on Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. KeyCorp decreased their target price on Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. dropped their price target on Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Corteva has a consensus rating of “Moderate Buy” and an average target price 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.