CX Institutional Takes $228,000 Position in Corteva, Inc. (NYSE:CTVA)

CX Institutional purchased a new position in Corteva, Inc. (NYSE:CTVA) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,875 shares of the company’s stock, valued at approximately $228,000.

A number of other institutional investors and hedge funds have also bought and sold shares of CTVA. Redmont Wealth Advisors LLC bought a new stake in Corteva during the first quarter valued at about $25,000. Acadian Asset Management LLC bought a new position in shares of Corteva during the first quarter worth $25,000. Rise Advisors LLC grew its stake in Corteva by 2,522.2% during the first quarter. Rise Advisors LLC now owns 472 shares of the company’s stock valued at $27,000 after acquiring an additional 454 shares in the last quarter. Albion Financial Group UT increased its holdings in Corteva by 77.2% in the 1st quarter. Albion Financial Group UT now owns 505 shares of the company’s stock valued at $29,000 after acquiring an additional 220 shares during the last quarter. Finally, Ironwood Wealth Management Inc. lifted its stake in Corteva by 106.1% in the 1st quarter. Ironwood Wealth Management Inc. now owns 544 shares of the company’s stock worth $31,000 after purchasing an additional 280 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors.

Corteva Price Performance

Shares of NYSE CTVA opened at $58.95 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 has a market cap of $41.09 billion, a price-to-earnings ratio of 74.62, a price-to-earnings-growth ratio of 1.66 and a beta of 0.77. The stock’s 50-day moving average is $56.20 and its two-hundred day moving average is $55.08. Corteva, Inc. has a 1-year low of $43.22 and a 1-year high of $59.13.

Corteva (NYSE:CTVA) last released its earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share 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 firm had revenue of $6.11 billion for the quarter, compared to analyst estimates of $6.15 billion. During the same period in the prior year, the firm earned $1.60 earnings per share. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. Analysts forecast that Corteva, Inc. will post 2.66 EPS for the current fiscal year.

Corteva Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.15%. This is an increase from Corteva’s previous quarterly dividend of $0.16. Corteva’s payout ratio is presently 86.08%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CTVA. Wells Fargo & Company decreased their price target on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Bank of America upgraded Corteva from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $59.00 to $67.00 in a research report on Wednesday. Morgan Stanley restated an “overweight” rating and set a $65.00 price objective on shares of Corteva in a research report on Tuesday, September 24th. Argus cut Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Finally, KeyCorp reduced their target price on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.21.

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.