Los Angeles Capital Management LLC Invests $1.97 Million in Corteva, Inc. (NYSE:CTVA)

Los Angeles Capital Management LLC purchased a new position in Corteva, Inc. (NYSE:CTVA) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 34,065 shares of the company’s stock, valued at approximately $1,965,000.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Corteva by 2.4% in the third quarter. Vanguard Group Inc. now owns 81,346,924 shares of the company’s stock worth $4,161,709,000 after purchasing an additional 1,941,323 shares during the period. Capital International Investors increased its stake in Corteva by 47.2% in the fourth quarter. Capital International Investors now owns 25,758,735 shares of the company’s stock valued at $1,234,359,000 after acquiring an additional 8,260,808 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Corteva by 19.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 13,236,504 shares of the company’s stock valued at $634,293,000 after acquiring an additional 2,141,428 shares during the last quarter. Northern Trust Corp increased its stake in Corteva by 2.5% in the fourth quarter. Northern Trust Corp now owns 12,815,795 shares of the company’s stock valued at $614,133,000 after acquiring an additional 310,012 shares during the last quarter. Finally, Harris Associates L P increased its stake in Corteva by 87.1% in the fourth quarter. Harris Associates L P now owns 9,011,702 shares of the company’s stock valued at $431,841,000 after acquiring an additional 4,194,981 shares during the last quarter. Institutional investors own 81.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CTVA. TheStreet raised Corteva from a “c+” rating to a “b-” rating in a research note on Tuesday, February 27th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $65.00 target price on shares of Corteva in a research note on Wednesday, June 12th. BMO Capital Markets upped their price target on shares of Corteva from $64.00 to $67.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Oppenheimer upped their price target on shares of Corteva from $67.00 to $69.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Finally, Wolfe Research started coverage on shares of Corteva in a research report on Friday, March 1st. They set an “outperform” rating and a $67.00 price target for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $63.00.

Corteva Stock Performance

Shares of CTVA opened at $52.92 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.51 and a quick ratio of 0.97. Corteva, Inc. has a one year low of $43.22 and a one year high of $58.76. The company has a 50-day simple moving average of $54.81 and a two-hundred day simple moving average of $52.48. The firm has a market capitalization of $36.88 billion, a PE ratio of 66.99, a price-to-earnings-growth ratio of 1.40 and a beta of 0.78.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.79 by $0.10. Corteva had a net margin of 3.32% and a return on equity of 6.68%. The business had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.65 billion. During the same period last year, the business posted $1.16 earnings per share. Corteva’s quarterly revenue was down 8.0% compared to the same quarter last year. On average, analysts anticipate that Corteva, Inc. will post 2.8 EPS for the current fiscal year.

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date was Tuesday, June 4th. Corteva’s dividend payout ratio is 81.01%.

Insider Buying and Selling at Corteva

In other Corteva news, insider Brian Titus sold 12,134 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now owns 13,495 shares of the company’s stock, valued at $764,491.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Brian Titus sold 12,134 shares of the firm’s stock in a transaction that occurred on 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 owns 13,495 shares of the company’s stock, valued at $764,491.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Cornel B. Fuerer sold 39,736 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $57.41, for a total transaction of $2,281,243.76. Following the sale, the senior vice president now directly owns 126,628 shares of the company’s stock, valued at approximately $7,269,713.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 83,556 shares of company stock valued at $4,795,016. Corporate insiders own 0.14% of the company’s stock.

Corteva Company 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.