Corteva, Inc. $CTVA Shares Purchased by Valeo Financial Advisors LLC

Key Points

• Valeo Financial Advisors LLC significantly increased its stake in Corteva, Inc. by 4,168.7%, now owning 571,320 shares valued at approximately $42.58 million.
• Corteva's recent quarterly earnings surpassed expectations, with an EPS of $2.20 compared to a consensus estimate of $1.89, and revenues increased by 5.6% year-over-year to $6.46 billion.
• The company announced a quarterly dividend increase from $0.17 to $0.18, yielding 1.1%, indicating growth in its shareholder returns.

Valeo Financial Advisors LLC raised its stake in Corteva, Inc. (NYSE:CTVA - Free Report) by 4,168.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 571,320 shares of the company's stock after acquiring an additional 557,936 shares during the period. Valeo Financial Advisors LLC owned 0.08% of Corteva worth $42,580,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Maryland Capital Advisors Inc. purchased a new stake in Corteva in the 2nd quarter valued at $29,000. Valley National Advisers Inc. lifted its position in Corteva by 85.9% in the first quarter. Valley National Advisers Inc. now owns 526 shares of the company's stock valued at $33,000 after purchasing an additional 243 shares during the period. Richardson Capital Management LLC purchased a new stake in Corteva in the 1st quarter valued at approximately $37,000. DHJJ Financial Advisors Ltd. increased its position in Corteva by 132.2% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 527 shares of the company's stock worth $39,000 after purchasing an additional 300 shares during the period. Finally, von Borstel & Associates Inc. purchased a new position in shares of Corteva during the 1st quarter worth approximately $44,000. Institutional investors and hedge funds own 81.54% of the company's stock.

Insider Transactions at Corteva

In other Corteva news, EVP Robert D. King sold 37,280 shares of the firm's stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the sale, the executive vice president directly owned 49,262 shares of the company's stock, valued at $3,655,240.40. This trade represents a 43.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.15% of the company's stock.

Corteva Stock Performance

Shares of CTVA opened at $63.36 on Monday. The company has a 50-day moving average of $71.24 and a two-hundred day moving average of $68.95. The stock has a market cap of $43.03 billion, a P/E ratio of 30.91, a PEG ratio of 1.43 and a beta of 0.76. Corteva, Inc. has a 12-month low of $53.40 and a 12-month high of $77.41. The company has a current ratio of 1.68, a quick ratio of 1.23 and a debt-to-equity ratio of 0.06.

Corteva (NYSE:CTVA - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.31. Corteva had a return on equity of 8.68% and a net margin of 8.16%.The firm had revenue of $6.46 billion during the quarter, compared to the consensus estimate of $6.26 billion. During the same period in the previous year, the firm posted $1.83 EPS. The company's quarterly revenue was up 5.6% compared to the same quarter last year. As a group, research analysts predict that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Tuesday, September 2nd. This is a positive change from Corteva's previous quarterly dividend of $0.17. Corteva's dividend payout ratio is presently 35.12%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CTVA shares. UBS Group lifted their price target on Corteva from $90.00 to $91.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Corteva from $83.00 to $90.00 and gave the stock a "buy" rating in a research report on Monday, September 15th. Royal Bank Of Canada reiterated an "outperform" rating on shares of Corteva in a report on Monday, August 11th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Corteva in a research note on Saturday, September 27th. Finally, KeyCorp reaffirmed a "sector weight" rating on shares of Corteva in a report on Friday. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $80.67.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.