AG2R LA Mondiale Gestion D Actifs Takes $1.69 Million Position in Corteva, Inc. $CTVA

Key Points

• AG2R LA Mondiale Gestion D Actifs acquired 26,908 shares of Corteva, Inc. for approximately $1.69 million in the first quarter, indicating growing institutional investment interest.
• Corteva recently increased its quarterly dividend from $0.17 to $0.18 per share, reflecting a commitment to returning value to shareholders.
• The company's stock has received multiple upgrades from analysts, with a consensus rating of "Moderate Buy" and an average target price of $80.25.

AG2R LA Mondiale Gestion D Actifs bought a new stake in shares of Corteva, Inc. (NYSE:CTVA - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 26,908 shares of the company's stock, valued at approximately $1,693,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Pinney & Scofield Inc. purchased a new position in shares of Corteva during the 4th quarter valued at approximately $27,000. Valley National Advisers Inc. raised its position in shares of Corteva by 85.9% during the 1st quarter. Valley National Advisers Inc. now owns 526 shares of the company's stock valued at $33,000 after acquiring an additional 243 shares in the last quarter. Richardson Capital Management LLC acquired a new stake in shares of Corteva during the 1st quarter valued at approximately $37,000. von Borstel & Associates Inc. acquired a new stake in shares of Corteva during the 1st quarter valued at approximately $44,000. Finally, Horizon Financial Services LLC raised its position in shares of Corteva by 4,444.4% during the 1st quarter. Horizon Financial Services LLC now owns 818 shares of the company's stock valued at $51,000 after acquiring an additional 800 shares in the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Corteva

In other news, EVP Robert D. King sold 37,280 shares of the firm's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the transaction, the executive vice president directly owned 49,262 shares of the company's stock, valued at approximately $3,655,240.40. This trade represents a 43.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.14% of the company's stock.

Analyst Upgrades and Downgrades

CTVA has been the topic of several research reports. Jefferies Financial Group reissued a "buy" rating on shares of Corteva in a research report on Friday, June 6th. Zacks Research raised Corteva to a "hold" rating in a research report on Friday, August 8th. BMO Capital Markets upped their price target on Corteva from $74.00 to $86.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Royal Bank Of Canada reissued an "outperform" rating on shares of Corteva in a research report on Monday, August 11th. Finally, Oppenheimer set a $87.00 price target on Corteva and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Twelve analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $80.25.

Corteva Price Performance

Shares of NYSE CTVA opened at $75.07 on Friday. Corteva, Inc. has a 1-year low of $53.40 and a 1-year high of $77.41. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.68 and a quick ratio of 1.23. The business's fifty day moving average price is $73.03 and its two-hundred day moving average price is $68.15. The firm has a market capitalization of $50.98 billion, a PE ratio of 36.62, a P/E/G ratio of 1.67 and a beta of 0.78.

Corteva (NYSE:CTVA - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $2.20 EPS for the quarter, beating analysts' consensus estimates of $1.89 by $0.31. The company had revenue of $6.46 billion for the quarter, compared to analyst estimates of $6.26 billion. Corteva had a return on equity of 8.68% and a net margin of 8.16%.The company's quarterly revenue was up 5.6% compared to the same quarter last year. During the same period last year, the company earned $1.83 earnings per share. On average, research analysts expect that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.0%. This is a positive change from Corteva's previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Tuesday, September 2nd. Corteva's dividend payout ratio is 35.12%.

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.

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