Silverberg Bernstein Capital Management LLC Purchases New Position in Corteva, Inc. (NYSE:CTVA)

Silverberg Bernstein Capital Management LLC acquired a new position in Corteva, Inc. (NYSE:CTVA - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 24,779 shares of the company's stock, valued at approximately $1,559,000. Corteva comprises about 1.4% of Silverberg Bernstein Capital Management LLC's portfolio, making the stock its 20th biggest position.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Scissortail Wealth Management LLC lifted its holdings in Corteva by 72,080.0% during the 4th quarter. Scissortail Wealth Management LLC now owns 3,609 shares of the company's stock worth $206,000 after purchasing an additional 3,604 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Corteva by 5.9% during the fourth quarter. Van ECK Associates Corp now owns 9,428,206 shares of the company's stock valued at $537,031,000 after buying an additional 525,531 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Corteva by 6.7% in the third quarter. JPMorgan Chase & Co. now owns 4,605,608 shares of the company's stock valued at $270,764,000 after acquiring an additional 288,885 shares during the period. Allworth Financial LP boosted its position in shares of Corteva by 17.3% in the fourth quarter. Allworth Financial LP now owns 13,699 shares of the company's stock valued at $856,000 after acquiring an additional 2,023 shares during the period. Finally, DnB Asset Management AS grew its stake in Corteva by 39.0% during the fourth quarter. DnB Asset Management AS now owns 232,902 shares of the company's stock valued at $13,266,000 after acquiring an additional 65,334 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on CTVA. The Goldman Sachs Group began coverage on shares of Corteva in a report on Thursday, March 13th. They issued a "buy" rating and a $71.00 price target for the company. Morgan Stanley lifted their price objective on Corteva from $65.00 to $71.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Royal Bank of Canada upped their target price on Corteva from $72.00 to $73.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. Barclays lifted their price target on Corteva from $64.00 to $70.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 14th. Finally, UBS Group upped their price objective on shares of Corteva from $74.00 to $76.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $70.50.

Corteva Trading Up 0.4%

Shares of CTVA traded up $0.27 during trading hours on Wednesday, hitting $71.46. The company had a trading volume of 2,776,524 shares, compared to its average volume of 3,312,198. Corteva, Inc. has a 52-week low of $50.01 and a 52-week high of $71.85. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. The stock's 50 day moving average price is $63.63 and its 200 day moving average price is $61.87. The firm has a market cap of $48.75 billion, a P/E ratio of 55.40, a P/E/G ratio of 1.68 and a beta of 0.72.

Corteva (NYSE:CTVA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $1.13 EPS for the quarter, topping analysts' consensus estimates of $0.88 by $0.25. The business had revenue of $4.42 billion for the quarter, compared to analysts' expectations of $4.56 billion. Corteva had a return on equity of 7.19% and a net margin of 5.36%. The business's quarterly revenue was down 1.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.89 EPS. On average, research analysts predict that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 2nd will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.68 dividend on an annualized basis and a yield of 0.95%. Corteva's dividend payout ratio is currently 41.46%.

About Corteva

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.