Perpetual Ltd Purchases 293 Shares of Corteva, Inc. (NYSE:CTVA)

Perpetual Ltd raised its position in Corteva, Inc. (NYSE:CTVA) by 6.6% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 4,707 shares of the company’s stock after acquiring an additional 293 shares during the period. Perpetual Ltd’s holdings in Corteva were worth $277,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Redmont Wealth Advisors LLC bought a new stake in Corteva in the 1st quarter valued at approximately $25,000. Acadian Asset Management LLC acquired a new position in shares of Corteva during the 1st quarter worth approximately $25,000. Rise Advisors LLC increased its position in shares of 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 purchasing an additional 454 shares during the last quarter. Scarborough Advisors LLC acquired a new position in shares of Corteva during the 4th quarter worth approximately $29,000. Finally, Albion Financial Group UT increased its position in shares of Corteva by 77.2% during the 1st quarter. Albion Financial Group UT now owns 505 shares of the company’s stock worth $29,000 after purchasing an additional 220 shares during the last quarter. Institutional investors own 81.54% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CTVA shares. KeyCorp lowered their price target on Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Argus lowered Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Morgan Stanley reissued an “overweight” rating and set a $65.00 target price on shares of Corteva in a report on Tuesday, September 24th. Mizuho decreased their target price on Corteva from $61.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, June 18th. Finally, JPMorgan Chase & Co. decreased their target price on Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Corteva presently has a consensus rating of “Moderate Buy” and an average price target of $61.94.

Corteva Stock Performance

NYSE:CTVA opened at $56.84 on Friday. The stock has a fifty day moving average price of $55.64 and a 200-day moving average price of $55.04. The company has a market cap of $39.62 billion, a price-to-earnings ratio of 71.95, a PEG ratio of 1.66 and a beta of 0.77. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.17 and a current ratio of 1.72. Corteva, Inc. has a fifty-two week low of $43.22 and a fifty-two week high of $59.08.

Corteva (NYSE:CTVA) last released its 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 firm had revenue of $6.11 billion during the quarter, compared to the consensus estimate of $6.15 billion. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The company’s revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.60 EPS. As a group, equities analysts anticipate that Corteva, Inc. will post 2.66 EPS for the current fiscal year.

Corteva Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a $0.17 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This is a positive change from Corteva’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a yield of 1.20%. Corteva’s dividend payout ratio (DPR) is 86.08%.

About Corteva

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.