QRG Capital Management Inc. Purchases 27,978 Shares of Corteva, Inc. (NYSE:CTVA)

QRG Capital Management Inc. lifted its stake in Corteva, Inc. (NYSE:CTVA - Free Report) by 101.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 55,541 shares of the company's stock after buying an additional 27,978 shares during the quarter. QRG Capital Management Inc.'s holdings in Corteva were worth $3,495,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in CTVA. Brighton Jones LLC raised its stake in Corteva by 307.2% during the 4th quarter. Brighton Jones LLC now owns 15,588 shares of the company's stock valued at $888,000 after purchasing an additional 11,760 shares during the period. Allworth Financial LP boosted its holdings in shares of Corteva by 17.3% in the 4th quarter. Allworth Financial LP now owns 13,699 shares of the company's stock worth $856,000 after purchasing an additional 2,023 shares during the period. Strategic Financial Concepts LLC purchased a new position in shares of Corteva in the 4th quarter worth approximately $655,000. CIBC Asset Management Inc boosted its holdings in shares of Corteva by 3.3% in the 4th quarter. CIBC Asset Management Inc now owns 110,499 shares of the company's stock worth $6,294,000 after purchasing an additional 3,520 shares during the period. Finally, Empower Advisory Group LLC boosted its holdings in shares of Corteva by 9.7% in the 4th quarter. Empower Advisory Group LLC now owns 5,481 shares of the company's stock worth $312,000 after purchasing an additional 483 shares during the period. Institutional investors own 81.54% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CTVA shares. Barclays boosted their price objective on Corteva from $64.00 to $70.00 and gave the company an "equal weight" rating in a report on Wednesday, May 14th. KeyCorp boosted their price objective on Corteva from $71.00 to $72.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Citigroup boosted their price objective on Corteva from $75.00 to $78.00 and gave the company a "buy" rating in a report on Friday, May 9th. Oppenheimer restated an "outperform" rating and set a $75.00 price objective (up previously from $72.00) on shares of Corteva in a report on Friday, May 9th. Finally, UBS Group boosted their price objective on Corteva from $74.00 to $76.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $71.83.

Corteva Price Performance

Shares of CTVA stock opened at $74.13 on Thursday. Corteva, Inc. has a twelve month low of $50.30 and a twelve month high of $74.84. The stock has a market capitalization of $50.57 billion, a price-to-earnings ratio of 45.20, a P/E/G ratio of 1.90 and a beta of 0.75. The stock has a fifty day simple moving average of $66.53 and a two-hundred day simple moving average of $62.73. The company has a current ratio of 1.44, a quick ratio of 1.00 and a debt-to-equity ratio of 0.07.

Corteva (NYSE:CTVA - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $1.13 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 7.84% and a net margin of 6.77%. The business's revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.89 EPS. On average, analysts predict that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 2nd were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.92%. The ex-dividend date was Monday, June 2nd. Corteva's payout ratio is 41.46%.

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.

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