Axa S.A., a prominent French investment firm, has significantly increased its stock holdings in American agriculture company, Corteva Inc. (NYSE:CTVA). With this move, Axa S.A. joins a number of institutional investors who have recently placed substantial bets on Corteva. These investors were duly rewarded with a substantial US$1.2b market cap gain last week, indicating a bullish market sentiment towards Corteva. Despite facing economic challenges in Argentina, which are expected to dent its 2024 outlook, Corteva continues to strategize, forming alliances with Pairwise to advance gene editing and boost climate resilience in agriculture.
Marshall Wace LLP also made a new $15.29 million investment in Corteva recently while Anomaly Capital Management LP invested a whopping $188.58 million. Amidst all these, Corteva announced a quarterly dividend increase for the fourth consecutive year and hosted an Investor Day on November 19, 2024. Furthermore, its stock hit a 52-week high at $58.92, bolstering Corteva's robust growth narrative. However, the company trimmed its full-year EBITDA guidance due to pricing pressure in crop protection.
Corteva CTVA News Analytics from Wed, 31 Jan 2024 08:00:00 GMT to Sun, 29 Sep 2024 12:36:00 GMT - Rating 7 - Innovation 6 - Information 8 - Rumor -3
