Wedmont Private Capital Makes New Investment in Corteva, Inc. (NYSE:CTVA)

Wedmont Private Capital acquired a new stake in Corteva, Inc. (NYSE:CTVA) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,161 shares of the company’s stock, valued at approximately $239,000.

Several other institutional investors have also modified their holdings of the company. Essex Financial Services Inc. lifted its holdings in shares of Corteva by 3.2% in the third quarter. Essex Financial Services Inc. now owns 6,883 shares of the company’s stock valued at $352,000 after buying an additional 215 shares during the period. Baxter Bros Inc. lifted its holdings in shares of Corteva by 1.2% in the fourth quarter. Baxter Bros Inc. now owns 17,576 shares of the company’s stock valued at $842,000 after buying an additional 215 shares during the period. Moody National Bank Trust Division lifted its holdings in shares of Corteva by 1.2% in the first quarter. Moody National Bank Trust Division now owns 19,660 shares of the company’s stock valued at $1,134,000 after buying an additional 235 shares during the period. Wealthcare Advisory Partners LLC lifted its holdings in shares of Corteva by 4.7% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 5,361 shares of the company’s stock valued at $257,000 after buying an additional 242 shares during the period. Finally, Westpac Banking Corp raised its position in shares of Corteva by 4.1% during the fourth quarter. Westpac Banking Corp now owns 6,290 shares of the company’s stock worth $301,000 after purchasing an additional 249 shares during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.

Insider Buying and Selling at Corteva

In other Corteva news, SVP Cornel B. Fuerer sold 39,736 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $57.41, for a total value of $2,281,243.76. Following the sale, the senior vice president now owns 126,628 shares of the company’s stock, valued at approximately $7,269,713.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Samuel R. Eathington sold 31,686 shares of Corteva stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $57.64, for a total transaction of $1,826,381.04. Following the sale, the insider now owns 53,854 shares of the company’s stock, valued at approximately $3,104,144.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Cornel B. Fuerer sold 39,736 shares of Corteva stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $57.41, for a total value of $2,281,243.76. Following the sale, the senior vice president now directly owns 126,628 shares in the company, valued at approximately $7,269,713.48. The disclosure for this sale can be found here. Insiders have sold 83,556 shares of company stock valued at $4,795,016 in the last 90 days. 0.14% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CTVA shares. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $57.00 target price (down from $58.00) on shares of Corteva in a research report on Friday, April 12th. Wolfe Research started coverage on Corteva in a research report on Friday, March 1st. They set an “outperform” rating and a $67.00 target price on the stock. BMO Capital Markets boosted their target price on Corteva from $64.00 to $67.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Wells Fargo & Company boosted their target price on Corteva from $66.00 to $67.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $65.00 price target on shares of Corteva in a research report on Wednesday, June 12th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.00.

Corteva Stock Performance

Shares of NYSE CTVA opened at $52.92 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 1.51. The firm has a market cap of $36.88 billion, a price-to-earnings ratio of 66.99, a P/E/G ratio of 1.40 and a beta of 0.78. The business’s 50-day simple moving average is $54.81 and its 200-day simple moving average is $52.48. Corteva, Inc. has a 52 week low of $43.22 and a 52 week high of $58.76.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10. The business had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.65 billion. Corteva had a return on equity of 6.68% and a net margin of 3.32%. The firm’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.16 EPS. As a group, equities research analysts expect that Corteva, Inc. will post 2.8 earnings per share for the current fiscal year.

Corteva Announces Dividend

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

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.