Insight Wealth Strategies LLC Invests $4.81 Million in Corteva, Inc. $CTVA

Key Points

• Insight Wealth Strategies LLC has invested $4.81 million in Corteva, Inc. by acquiring 64,038 shares of the company's stock during the second quarter.
• Corteva has reported a strong quarterly performance with $2.20 earnings per share, exceeding estimates and showing a revenue increase of 5.6% compared to the previous year.
• The company recently increased its quarterly dividend to $0.18 per share, up from $0.17, with an expected annual dividend yield of 1.0%.

Insight Wealth Strategies LLC bought a new position in Corteva, Inc. (NYSE:CTVA - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 64,038 shares of the company's stock, valued at approximately $4,810,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pinney & Scofield Inc. acquired a new stake in shares of Corteva in the fourth quarter worth $27,000. Valley National Advisers Inc. boosted its position in shares of Corteva by 85.9% in the first quarter. Valley National Advisers Inc. now owns 526 shares of the company's stock worth $33,000 after buying an additional 243 shares during the period. Richardson Capital Management LLC acquired a new stake in Corteva during the first quarter valued at $37,000. von Borstel & Associates Inc. acquired a new stake in Corteva during the first quarter valued at $44,000. Finally, Horizon Financial Services LLC boosted its position in Corteva by 4,444.4% during the first quarter. Horizon Financial Services LLC now owns 818 shares of the company's stock valued at $51,000 after purchasing an additional 800 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company's stock.

Insider Buying and Selling at Corteva

In related news, EVP Robert D. King sold 37,280 shares of the business's stock in a transaction dated 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 completion of the transaction, the executive vice president owned 49,262 shares of the company's stock, valued at approximately $3,655,240.40. The trade was 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 hyperlink. Corporate insiders own 0.14% of the company's stock.

Corteva Price Performance

NYSE CTVA opened at $75.07 on Friday. Corteva, Inc. has a twelve month low of $53.40 and a twelve month high of $77.41. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.23 and a current ratio of 1.68. The stock 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. The stock has a 50-day simple moving average of $73.03 and a 200 day simple moving average of $68.15.

Corteva (NYSE:CTVA - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $2.20 earnings per share 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 business had revenue of $6.46 billion during the quarter, compared to analysts' expectations of $6.26 billion. During the same quarter in the previous year, the firm earned $1.83 EPS. The firm's revenue was up 5.6% compared to the same quarter last year. Research analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CTVA shares. KeyCorp lifted their price objective on Corteva from $84.00 to $85.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Citigroup cut Corteva from a "neutral" rating to a "mixed" rating in a research report on Friday, September 5th. Oppenheimer set a $87.00 price objective on Corteva and gave the company an "outperform" rating in a research report on Tuesday, July 15th. BMO Capital Markets lifted their price objective on Corteva from $74.00 to $86.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Finally, Wells Fargo & Company reissued an "overweight" rating and set a $83.00 price objective (up previously from $82.00) on shares of Corteva in a research report on Friday, August 8th. Twelve analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, Corteva has a consensus rating of "Moderate Buy" and an average 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.

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