Mizuho Securities Co. Ltd. Purchases New Shares in Corteva, Inc. (NYSE:CTVA)

Mizuho Securities Co. Ltd. purchased a new stake in shares of Corteva, Inc. (NYSE:CTVA) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,200 shares of the company’s stock, valued at approximately $105,000.

Other large investors also recently made changes to their positions in the company. Arcataur Capital Management LLC increased its holdings in Corteva by 2.4% during the third quarter. Arcataur Capital Management LLC now owns 8,598 shares of the company’s stock worth $440,000 after buying an additional 200 shares during the last quarter. Union Savings Bank increased its holdings in Corteva by 58.5% during the third quarter. Union Savings Bank now owns 577 shares of the company’s stock worth $30,000 after buying an additional 213 shares during the last quarter. Essex Financial Services Inc. increased its holdings in Corteva by 3.2% during the third quarter. Essex Financial Services Inc. now owns 6,883 shares of the company’s stock worth $352,000 after buying an additional 215 shares during the last quarter. NewSquare Capital LLC increased its holdings in Corteva by 70.6% during the third quarter. NewSquare Capital LLC now owns 546 shares of the company’s stock worth $28,000 after buying an additional 226 shares during the last quarter. Finally, Tradewinds LLC. increased its holdings in Corteva by 5.1% during the third quarter. Tradewinds LLC. now owns 4,788 shares of the company’s stock worth $245,000 after buying an additional 231 shares during the last quarter. 81.54% of the stock is owned by institutional investors.

Corteva Price Performance

Corteva stock traded down $0.01 during mid-day trading on Tuesday, hitting $55.19. 2,576,242 shares of the company traded hands, compared to its average volume of 3,582,298. The stock has a market cap of $38.57 billion, a price-to-earnings ratio of 54.11, a price-to-earnings-growth ratio of 1.44 and a beta of 0.77. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.90 and a current ratio of 1.56. Corteva, Inc. has a one year low of $43.22 and a one year high of $61.87. The stock has a fifty day moving average price of $55.26 and a 200-day moving average price of $50.37.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Thursday, February 1st. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.09. The firm had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.54 billion. Corteva had a net margin of 4.27% and a return on equity of 7.43%. During the same period in the previous year, the business posted $0.16 EPS. On average, equities analysts predict that Corteva, Inc. will post 2.84 earnings per share for the current fiscal year.

Corteva Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a $0.16 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.16%. Corteva’s payout ratio is 62.75%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CTVA shares. BNP Paribas upgraded shares of Corteva from an “underperform” rating to a “neutral” rating and set a $53.00 target price for the company in a research note on Friday, February 2nd. Wells Fargo & Company lifted their target price on shares of Corteva from $54.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Loop Capital upgraded shares of Corteva from a “hold” rating to a “buy” rating and lifted their target price for the stock from $57.00 to $65.00 in a research note on Monday, February 12th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $57.00 target price (down previously from $58.00) on shares of Corteva in a research note on Friday, April 12th. Finally, Mizuho reduced their target price on shares of Corteva from $59.00 to $56.00 and set a “buy” rating for the company in a research note on Thursday, February 1st. Six investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.