HRT Financial LP Makes New Investment in Corteva, Inc. $CTVA

HRT Financial LP acquired a new position in shares of Corteva, Inc. (NYSE:CTVA) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 393,169 shares of the company’s stock, valued at approximately $29,302,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Gladwyn Financial Advisors Inc. purchased a new stake in Corteva in the 2nd quarter worth about $25,000. Curat Global LLC boosted its holdings in shares of Corteva by 93.7% in the second quarter. Curat Global LLC now owns 370 shares of the company’s stock valued at $28,000 after purchasing an additional 179 shares during the period. Maryland Capital Advisors Inc. bought a new position in Corteva in the second quarter worth approximately $29,000. Twin Peaks Wealth Advisors LLC purchased a new position in Corteva during the 2nd quarter worth $29,000. Finally, DHJJ Financial Advisors Ltd. lifted its holdings in shares of Corteva by 132.2% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 527 shares of the company’s stock worth $39,000 after buying an additional 300 shares during the period. 81.54% of the stock is owned by hedge funds and other institutional investors.

Corteva Stock Up 0.2%

Shares of NYSE CTVA opened at $66.14 on Friday. Corteva, Inc. has a 1 year low of $53.40 and a 1 year high of $77.41. The company has a market capitalization of $44.70 billion, a P/E ratio of 28.27, a P/E/G ratio of 1.50 and a beta of 0.74. The company has a 50 day simple moving average of $64.28 and a 200-day simple moving average of $69.47. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.58 and a quick ratio of 1.07.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Tuesday, November 4th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.26. Corteva had a return on equity of 9.37% and a net margin of 9.19%.The firm had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same period last year, the company earned ($0.49) EPS. The company’s quarterly revenue was up 6.5% on a year-over-year basis. On average, equities research analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.1%. The ex-dividend date is Monday, December 1st. Corteva’s dividend payout ratio (DPR) is 30.77%.

Analyst Ratings Changes

Several brokerages have issued reports on CTVA. Royal Bank Of Canada dropped their target price on shares of Corteva from $86.00 to $80.00 and set an “outperform” rating on the stock in a report on Friday, October 17th. Oppenheimer reiterated an “outperform” rating and issued a $76.00 target price on shares of Corteva in a research note on Friday, November 7th. Zacks Research cut shares of Corteva from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 30th. Citigroup lifted their price objective on shares of Corteva from $67.00 to $68.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Finally, Wells Fargo & Company dropped their target price on Corteva from $80.00 to $77.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 11th. Fifteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $78.05.

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.