Private Advisor Group LLC Raises Holdings in Corteva, Inc. (NYSE:CTVA)

Private Advisor Group LLC boosted its stake in shares of Corteva, Inc. (NYSE:CTVA) by 12.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 95,033 shares of the company’s stock after buying an additional 10,430 shares during the period. Private Advisor Group LLC’s holdings in Corteva were worth $4,554,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. WCM Investment Management LLC lifted its position in Corteva by 3.1% during the fourth quarter. WCM Investment Management LLC now owns 7,103,146 shares of the company’s stock valued at $341,590,000 after acquiring an additional 213,949 shares during the last quarter. 17 Capital Partners LLC acquired a new stake in shares of Corteva in the 4th quarter worth $1,649,000. Factory Mutual Insurance Co. grew its stake in Corteva by 10.7% during the 4th quarter. Factory Mutual Insurance Co. now owns 532,558 shares of the company’s stock worth $25,520,000 after buying an additional 51,500 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in Corteva by 9.7% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 777,833 shares of the company’s stock valued at $39,794,000 after buying an additional 68,593 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in Corteva by 1.1% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,760,701 shares of the company’s stock valued at $132,293,000 after buying an additional 31,171 shares during the last quarter. Institutional investors own 81.54% of the company’s stock.

Corteva Stock Performance

CTVA opened at $57.83 on Friday. The firm has a market capitalization of $40.31 billion, a PE ratio of 73.20, a PEG ratio of 1.50 and a beta of 0.78. The company has a current ratio of 1.51, a quick ratio of 0.97 and a debt-to-equity ratio of 0.10. Corteva, Inc. has a twelve month low of $43.22 and a twelve month high of $58.81. The firm’s 50-day moving average price is $55.50 and its 200 day moving average price is $50.78.

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10. Corteva had a return on equity of 6.68% and a net margin of 3.32%. The business had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.65 billion. During the same period in the prior year, the business earned $1.16 earnings per share. The business’s revenue was down 8.0% compared to the same quarter last year. As a group, sell-side analysts expect that Corteva, Inc. will post 2.83 EPS for the current fiscal year.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $0.64 annualized dividend and a dividend yield of 1.11%. Corteva’s dividend payout ratio is presently 81.01%.

Insider Activity

In related news, insider Brian Titus sold 12,134 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $56.65, for a total transaction of $687,391.10. Following the completion of the sale, the insider now directly owns 13,495 shares in the company, valued at $764,491.75. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

CTVA has been the topic of several recent analyst reports. Barclays upped their price objective on shares of Corteva from $55.00 to $58.00 and gave the company an “equal weight” rating in a report on Wednesday, April 10th. BMO Capital Markets boosted their price objective on shares of Corteva from $64.00 to $67.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Royal Bank of Canada raised their target price on Corteva from $62.00 to $64.00 and gave the stock an “outperform” rating in a research note on Monday. KeyCorp boosted their price target on Corteva from $63.00 to $66.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. Finally, BNP Paribas raised Corteva from an “underperform” rating to a “neutral” rating and set a $53.00 target price for the company in a report on Friday, February 2nd. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $63.24.

Corteva Profile

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.