Susquehanna Fundamental Investments LLC Takes Position in Corteva, Inc. (NYSE:CTVA)

Susquehanna Fundamental Investments LLC purchased a new stake in Corteva, Inc. (NYSE:CTVA) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 572,881 shares of the company’s stock, valued at approximately $30,901,000. Corteva comprises 0.7% of Susquehanna Fundamental Investments LLC’s investment portfolio, making the stock its 22nd biggest position.

Other large investors have also modified their holdings of the company. Redmont Wealth Advisors LLC purchased a new position in Corteva during the first quarter worth approximately $25,000. Acadian Asset Management LLC purchased a new stake in Corteva during the 1st quarter worth $25,000. Rise Advisors LLC increased its stake in Corteva by 2,522.2% during the 1st quarter. Rise Advisors LLC now owns 472 shares of the company’s stock worth $27,000 after buying an additional 454 shares during the period. ICA Group Wealth Management LLC purchased a new stake in Corteva during the 4th quarter worth $28,000. Finally, Scarborough Advisors LLC purchased a new stake in Corteva during the 4th quarter worth $29,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Stock Up 1.0 %

NYSE CTVA opened at $58.58 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.72 and a quick ratio of 1.17. The company’s 50 day simple moving average is $55.02 and its 200 day simple moving average is $54.88. Corteva, Inc. has a 12 month low of $43.22 and a 12 month high of $59.08. The company has a market capitalization of $40.83 billion, a P/E ratio of 74.15, a PEG ratio of 1.68 and a beta of 0.77.

Corteva (NYSE:CTVA) last released its earnings results on Wednesday, July 31st. The company reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.09. Corteva had a net margin of 5.31% and a return on equity of 7.30%. The business had revenue of $6.11 billion for the quarter, compared to the consensus estimate of $6.15 billion. During the same period in the previous year, the firm earned $1.60 EPS. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. Equities research analysts expect that Corteva, Inc. will post 2.69 earnings per share for the current fiscal year.

Corteva Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a $0.17 dividend. This is an increase from Corteva’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend was Tuesday, September 3rd. Corteva’s dividend payout ratio (DPR) is 86.08%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CTVA shares. Morgan Stanley reissued an “overweight” rating and set a $65.00 price objective on shares of Corteva in a report on Tuesday. Mizuho decreased their price target on shares of Corteva from $61.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday, June 18th. OTR Global reaffirmed a “negative” rating on shares of Corteva in a report on Friday, June 7th. JPMorgan Chase & Co. decreased their price target on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, Argus lowered shares of Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.94.

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.