The Vanguard Group, Inc. has recently announced that it has increased stake in Corteva Inc (NYSE:CTVA) by 2.51%. After grabbing 78.41 million shares, the institutional investor is now in possession of 1.92 million shares of the Basic Materials Company. The new investment brought the stake of investor firm to 11.13% having worth around $3.76 billion. Moreover, BlackRock Fund Advisors increased its share by 57948.0 to have a control over 35.51 million shares. And Capital Research & Management Co raised its holdings to 7.23 million shares by acquiring 17.5 million shares or 2.48% of the stake.
Corteva Inc (CTVA) concluded trading on Thursday at a closing price of $45.24, with 3.96 million shares of worth about $179.06 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -18.91% during that period and on Thursday, January 25 the price saw a loss of about -0.37%. Currently the company’s common shares owned by public are about 713.42M shares, out of which, 703.62M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 61 times over the past 12 months. They bought 256,473 shares in 41 of the transactions. In 20 selling transactions, insiders dumped 79,943 shares.
Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Vanguard Mid Cap Index Fund are the top 3 mutual funds which are holding stakes in Corteva Inc Vanguard Total Stock Market ETF is currently holding 22.17 million shares of worth totaling $1.06 billion. The company recently came selling 90293.0 shares which brought its stake up to 3.15% of the company’s outstanding shares. Vanguard 500 Index Fund sold 93267.0 shares, after which its hold over company’s outstanding shares shrunk to 2.44%, leaving 17.21 million shares with the mutual fund that have a worth of about $824.56 million. Vanguard Mid Cap Index Fund, after selling 15.8 million shares, have now control over 2.24% of the stake in the company. It holds -0.33 million shares of worth $757.05 million.
Stock saw a price change of 1.87% in past 5 days and over the past one month there was a price change of -4.68%. Year-to-date (YTD), CTVA shares are showing a performance of -5.59% which decreased to -27.63% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $43.22 but also hit the highest price of $65.21 during that period. The average intraday trading volume for Corteva Inc shares is 4.14 million. The stock is currently trading -2.86% below its 20-day simple moving average (SMA20), while that difference is down -2.09% for SMA50 and it goes to -13.47% lower than SMA200.
The Vanguard Group, Inc. acquired 78.41 million shares of Corteva Inc having value of about $3.76 billion. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 1.92 million shares in the company valued at close to $86768917.56, or have control over 2.51% stake in the company. Corteva Inc (NYSE: CTVA) currently have 713.42M outstanding shares and institutions hold larger chunk of about 83.00% of that. Holding of mutual funds in the company is about 35.12% while other institutional holders and individual stake holders have control over 48.20% and 0.29% of the stake respectively.
The stock has a current market capitalization of $31.88B and its 3Y-monthly beta is at 0.74. PE ratio of stock for trailing 12 months is 34.77, while it has posted earnings per share of $1.30 in the same period. Its PEG reads 3.47 and has Quick Ratio of 0.97 while making debt-to-equity ratio of 0.23. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for CTVA, volatility over the week remained 2.15% while standing at 1.75% over the month.
Analysts are in expectations that Corteva Inc (CTVA) stock would likely to be making an EPS of $0.06 in the current quarter, while forecast for next quarter EPS is $1.05 and it is $3.01 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.03 which is $0.15 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.16 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -2.53% while it is estimated to increase by 16.95% in next year. EPS is likely to grow at an annualized rate of 10.02% for next 5-years, compared to annual growth of -15.45% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Berenberg on November 27, 2023 offering a Hold rating for the stock and assigned a target price range of between $63 and $52 to it.
