Element Capital Management LLC Purchases Shares of 43,490 Corteva, Inc. $CTVA

Key Points

• Element Capital Management LLC has acquired a stake in Corteva, Inc., purchasing 43,490 shares valued at approximately $2.74 million during the first quarter.
• Multiple analysts have set new price targets for Corteva, with Oppenheimer's recent target at $87.00 and a consensus price target of $80.25 from fourteen analysts, categorizing the stock as a "Moderate Buy."
• Corteva recently announced an increase in its quarterly dividend from $0.17 to $0.18, marking a 5.9% increase, with a dividend yield of 1.0% and a payout ratio of 33.17%.

Element Capital Management LLC bought a new position in Corteva, Inc. (NYSE:CTVA - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm bought 43,490 shares of the company's stock, valued at approximately $2,737,000.

Other institutional investors have also bought and sold shares of the company. Pinney & Scofield Inc. acquired a new stake in Corteva during the fourth quarter worth about $27,000. LGT Financial Advisors LLC acquired a new stake in Corteva during the fourth quarter worth about $31,000. Valley National Advisers Inc. increased its position in Corteva by 85.9% during the first quarter. Valley National Advisers Inc. now owns 526 shares of the company's stock worth $33,000 after purchasing an additional 243 shares during the last quarter. Richardson Capital Management LLC acquired a new stake in Corteva during the first quarter worth about $37,000. Finally, von Borstel & Associates Inc. acquired a new stake in Corteva during the first quarter worth about $44,000. 81.54% of the stock is owned by hedge funds and other institutional investors.

Corteva Stock Up 0.6%

Shares of NYSE CTVA traded up $0.4220 during mid-day trading on Wednesday, hitting $72.8220. The company had a trading volume of 3,086,781 shares, compared to its average volume of 4,108,455. The company has a market capitalization of $49.45 billion, a PE ratio of 35.52, a price-to-earnings-growth ratio of 1.66 and a beta of 0.75. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.68 and a quick ratio of 1.23. Corteva, Inc. has a 1-year low of $53.40 and a 1-year high of $77.41. The business's 50-day simple moving average is $73.39 and its 200 day simple moving average is $66.93.

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

Corteva Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be paid a $0.18 dividend. The ex-dividend date is Tuesday, September 2nd. This is an increase from Corteva's previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 1.0%. Corteva's payout ratio is 33.17%.

Wall Street Analysts Forecast Growth

CTVA has been the subject of several recent analyst reports. UBS Group raised their price objective on shares of Corteva from $90.00 to $91.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Royal Bank Of Canada reiterated an "outperform" rating on shares of Corteva in a report on Monday, August 11th. Zacks Research upgraded Corteva to a "hold" rating in a report on Friday, August 8th. KeyCorp lifted their price target on shares of Corteva from $84.00 to $85.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Finally, Oppenheimer set a $87.00 price target on shares of Corteva and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Thirteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $80.25.

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.