Insigneo Advisory Services LLC Purchases 3,368 Shares of Corteva, Inc. (NYSE:CTVA)

Insigneo Advisory Services LLC raised its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 61.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,879 shares of the company’s stock after acquiring an additional 3,368 shares during the quarter. Insigneo Advisory Services LLC’s holdings in Corteva were worth $456,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Mediolanum International Funds Ltd acquired a new stake in Corteva in the 1st quarter valued at $2,270,000. Red Mountain Financial LLC acquired a new stake in shares of Corteva in the fourth quarter valued at about $862,000. California State Teachers Retirement System raised its holdings in Corteva by 15.1% during the fourth quarter. California State Teachers Retirement System now owns 1,383,280 shares of the company’s stock worth $66,287,000 after acquiring an additional 181,883 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Corteva by 14.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 948,127 shares of the company’s stock valued at $54,678,000 after purchasing an additional 121,817 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in Corteva in the first quarter valued at approximately $1,965,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CTVA has been the subject of several recent analyst reports. Morgan Stanley reissued an “overweight” rating and issued a $65.00 price objective on shares of Corteva in a report on Tuesday. Mizuho decreased their price objective on shares of Corteva from $61.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, June 18th. OTR Global restated a “negative” rating on shares of Corteva in a research note on Friday, June 7th. Argus downgraded shares of Corteva from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Finally, Wells Fargo & Company lowered their price target on Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $61.94.

Corteva Price Performance

Shares of Corteva stock opened at $58.02 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $40.44 billion, a price-to-earnings ratio of 73.44, a price-to-earnings-growth ratio of 1.68 and a beta of 0.77. Corteva, Inc. has a twelve month low of $43.22 and a twelve month high of $58.92. The company has a 50-day simple moving average of $54.89 and a two-hundred day simple moving average of $54.84.

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

Corteva Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.17 per share. This is a positive change from Corteva’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a dividend yield of 1.17%. The ex-dividend date was Tuesday, September 3rd. Corteva’s dividend payout ratio is 86.08%.

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.