Governors Lane LP bought a new position in Corteva, Inc. (NYSE:CTVA - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 112,700 shares of the company's stock, valued at approximately $6,419,000.
Several other institutional investors also recently modified their holdings of CTVA. Flagship Wealth Advisors LLC purchased a new stake in shares of Corteva in the fourth quarter worth $25,000. Noble Wealth Management PBC purchased a new stake in Corteva during the 4th quarter valued at about $26,000. Hager Investment Management Services LLC purchased a new stake in Corteva during the 4th quarter valued at about $27,000. LGT Financial Advisors LLC purchased a new position in Corteva in the fourth quarter worth about $31,000. Finally, Golden State Wealth Management LLC bought a new position in shares of Corteva in the fourth quarter worth approximately $32,000. 81.54% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
CTVA has been the subject of a number of recent analyst reports. Bank of America boosted their price objective on shares of Corteva from $69.00 to $73.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Wells Fargo & Company upped their price target on Corteva from $67.00 to $73.00 and gave the company an "overweight" rating in a report on Tuesday, January 28th. Argus upgraded Corteva from a "hold" rating to a "buy" rating and set a $69.00 price objective for the company in a report on Monday, March 31st. Barclays upped their target price on shares of Corteva from $62.00 to $64.00 and gave the company an "equal weight" rating in a research note on Tuesday, January 21st. Finally, BNP Paribas upgraded shares of Corteva to a "hold" rating in a research note on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Corteva currently has an average rating of "Moderate Buy" and a consensus price target of $69.64.
Check Out Our Latest Stock Report on Corteva
Corteva Price Performance
Shares of Corteva stock opened at $67.70 on Friday. The stock has a market cap of $46.24 billion, a P/E ratio of 52.48, a P/E/G ratio of 1.68 and a beta of 0.72. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45. The stock's fifty day moving average is $60.87 and its 200 day moving average is $60.74. Corteva, Inc. has a one year low of $50.01 and a one year high of $67.93.
Corteva (NYSE:CTVA - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.13 earnings per share for the quarter, beating analysts' consensus estimates of $0.88 by $0.25. Corteva had a return on equity of 7.19% and a net margin of 5.36%. The firm had revenue of $4.42 billion for the quarter, compared to analysts' expectations of $4.56 billion. During the same period in the previous year, the firm earned $0.89 EPS. The business's quarterly revenue was down 1.7% on a year-over-year basis. Sell-side analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current year.
Corteva Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 2nd will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.68 annualized dividend and a dividend yield of 1.00%. Corteva's payout ratio is 41.46%.
Insider Buying and Selling
In related news, insider Brian Titus sold 26,560 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $63.74, for a total value of $1,692,934.40. Following the transaction, the insider now directly owns 11,347 shares of the company's stock, valued at approximately $723,257.78. The trade was a 70.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.14% of the stock is currently owned by insiders.
Corteva Company Profile
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Free Report)
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.
Further Reading
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