TrinityPoint Wealth LLC Takes Position in Corteva, Inc. (NYSE:CTVA)

TrinityPoint Wealth LLC bought a new stake in shares of Corteva, Inc. (NYSE:CTVA - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 13,914 shares of the company's stock, valued at approximately $793,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its stake in Corteva by 6.7% during the third quarter. JPMorgan Chase & Co. now owns 4,605,608 shares of the company's stock valued at $270,764,000 after buying an additional 288,885 shares in the last quarter. SeaCrest Wealth Management LLC grew its position in shares of Corteva by 4.0% in the fourth quarter. SeaCrest Wealth Management LLC now owns 6,288 shares of the company's stock valued at $358,000 after purchasing an additional 244 shares during the last quarter. Burney Co. grew its position in Corteva by 6.3% in the 4th quarter. Burney Co. now owns 4,505 shares of the company's stock worth $257,000 after purchasing an additional 266 shares during the last quarter. Empirical Asset Management LLC acquired a new position in shares of Corteva in the 4th quarter valued at $2,392,000. Finally, Procyon Advisors LLC lifted its holdings in shares of Corteva by 1.6% during the fourth quarter. Procyon Advisors LLC now owns 13,413 shares of the company's stock valued at $764,000 after acquiring an additional 213 shares during the period. Institutional investors and hedge funds own 81.54% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CTVA shares. BNP Paribas raised Corteva to a "hold" rating in a report on Monday, February 10th. The Goldman Sachs Group initiated coverage on Corteva in a research report on Thursday, March 13th. They set a "buy" rating and a $71.00 price objective for the company. Royal Bank of Canada boosted their target price on shares of Corteva from $72.00 to $73.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Argus raised shares of Corteva from a "hold" rating to a "buy" rating and set a $69.00 target price for the company in a report on Monday, March 31st. Finally, UBS Group lifted their price target on shares of Corteva from $74.00 to $76.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $70.50.

Corteva Trading Up 0.6%

CTVA traded up $0.38 during midday trading on Friday, hitting $68.97. 664,245 shares of the company were exchanged, compared to its average volume of 3,283,860. The firm's 50 day moving average price is $62.34 and its 200-day moving average price is $61.20. Corteva, Inc. has a 1-year low of $50.01 and a 1-year high of $69.42. The firm has a market capitalization of $47.05 billion, a P/E ratio of 53.45, a P/E/G ratio of 1.68 and a beta of 0.72. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08.

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

Corteva Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 2nd will be paid a $0.17 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.68 annualized dividend and a dividend yield of 0.99%. Corteva's payout ratio is 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.