QRG Capital Management Inc. Grows Stock Position in Corteva, Inc. $CTVA

QRG Capital Management Inc. increased its holdings in Corteva, Inc. (NYSE:CTVA - Free Report) by 23.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,718 shares of the company's stock after buying an additional 13,177 shares during the period. QRG Capital Management Inc.'s holdings in Corteva were worth $5,122,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in CTVA. ZWJ Investment Counsel Inc. raised its stake in Corteva by 1.0% in the 2nd quarter. ZWJ Investment Counsel Inc. now owns 756,017 shares of the company's stock valued at $56,346,000 after purchasing an additional 7,490 shares during the last quarter. Franklin Street Advisors Inc. NC acquired a new position in shares of Corteva during the 2nd quarter valued at about $239,000. Ascent Group LLC acquired a new position in shares of Corteva during the 2nd quarter valued at about $422,000. Ameritas Advisory Services LLC acquired a new position in shares of Corteva during the 2nd quarter valued at about $222,000. Finally, Asset Advisors Investment Management LLC increased its position in Corteva by 27.9% during the 2nd quarter. Asset Advisors Investment Management LLC now owns 6,871 shares of the company's stock worth $512,000 after purchasing an additional 1,500 shares in the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Corteva

In related news, EVP Robert D. King sold 37,280 shares of the stock in a transaction on Friday, August 29th. The stock was sold at an average price of $74.20, for a total value of $2,766,176.00. Following the completion of the transaction, the executive vice president owned 49,262 shares in the company, 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 SEC, which can be accessed through the SEC website. 0.15% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. UBS Group upped their price target on Corteva from $90.00 to $91.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. JPMorgan Chase & Co. upgraded Corteva from a "neutral" rating to an "overweight" rating and set a $67.00 price objective on the stock in a research note on Thursday. KeyCorp restated a "sector weight" rating on shares of Corteva in a research note on Friday. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Corteva in a research report on Saturday, September 27th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Corteva from $83.00 to $90.00 and gave the stock a "buy" rating in a research report on Monday, September 15th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $80.67.

Corteva Trading Down 0.2%

Shares of CTVA stock opened at $63.36 on Monday. The stock has a 50-day simple moving average of $71.24 and a 200 day simple moving average of $68.95. Corteva, Inc. has a fifty-two week low of $53.40 and a fifty-two week high of $77.41. The stock has a market capitalization of $43.03 billion, a P/E ratio of 30.91, a P/E/G ratio of 1.43 and a beta of 0.76. The company has a quick ratio of 1.23, a current ratio of 1.68 and a debt-to-equity ratio of 0.06.

Corteva (NYSE:CTVA - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $2.20 earnings per share for the quarter, beating 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 last year, the business posted $1.83 earnings per share. The company's quarterly revenue was up 5.6% on a year-over-year basis. On average, sell-side analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were given a $0.18 dividend. This is a positive change from Corteva's previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, September 2nd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.1%. 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.

Want to see what other hedge funds are holding CTVA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Corteva, Inc. (NYSE:CTVA - Free Report).

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.