Contravisory Investment Management Inc. Makes New $294,000 Investment in Corteva, Inc. (NYSE:CTVA)

Contravisory Investment Management Inc. bought a new position in Corteva, Inc. (NYSE:CTVA - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 4,675 shares of the company's stock, valued at approximately $294,000.

A number of other large investors have also recently made changes to their positions in CTVA. Silverberg Bernstein Capital Management LLC purchased a new position in Corteva during the 1st quarter valued at $1,559,000. Merit Financial Group LLC lifted its position in shares of Corteva by 71.8% during the first quarter. Merit Financial Group LLC now owns 9,212 shares of the company's stock worth $580,000 after purchasing an additional 3,849 shares during the last quarter. Strong Tower Advisory Services boosted its stake in shares of Corteva by 16.4% during the first quarter. Strong Tower Advisory Services now owns 40,308 shares of the company's stock valued at $2,537,000 after purchasing an additional 5,671 shares during the period. Fragasso Financial Advisors Inc purchased a new stake in shares of Corteva during the first quarter valued at $215,000. Finally, NBC Securities Inc. grew its holdings in shares of Corteva by 93,350.0% in the first quarter. NBC Securities Inc. now owns 1,869 shares of the company's stock worth $117,000 after purchasing an additional 1,867 shares during the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. BNP Paribas upgraded shares of Corteva to a "hold" rating in a report on Monday, February 10th. Barclays raised their target price on shares of Corteva from $64.00 to $70.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 14th. Royal Bank of Canada boosted their price target on Corteva from $72.00 to $73.00 and gave the company an "outperform" rating in a report on Friday, February 7th. KeyCorp increased their target price on shares of Corteva from $71.00 to $72.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Finally, Oppenheimer reiterated an "outperform" rating and issued a $75.00 price target (up from $72.00) on shares of Corteva in a report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $70.50.

Corteva Stock Performance

CTVA stock traded up $0.50 during trading on Friday, reaching $71.70. The company had a trading volume of 2,854,986 shares, compared to its average volume of 3,316,597. The company has a market cap of $48.91 billion, a price-to-earnings ratio of 55.58, a price-to-earnings-growth ratio of 1.68 and a beta of 0.72. Corteva, Inc. has a twelve month low of $50.01 and a twelve month high of $72.25. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45. The firm has a 50-day simple moving average of $64.00 and a 200-day simple moving average of $62.03.

Corteva (NYSE:CTVA - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $1.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.88 by $0.25. The business had revenue of $4.42 billion during the quarter, compared to analysts' expectations of $4.56 billion. Corteva had a net margin of 5.36% and a return on equity of 7.19%. The business's quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter last year, the company posted $0.89 earnings per share. As a group, sell-side analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 2nd will be paid a dividend of $0.17 per share. The ex-dividend date is Monday, June 2nd. This represents a $0.68 annualized dividend and a yield of 0.95%. Corteva's payout ratio is presently 41.46%.

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.