NorthRock Partners LLC Takes Position in Corteva, Inc. (NYSE:CTVA)

NorthRock Partners LLC acquired a new position in shares of Corteva, Inc. (NYSE:CTVA - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 6,323 shares of the company's stock, valued at approximately $360,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its holdings 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 purchasing an additional 288,885 shares in the last quarter. Wedmont Private Capital lifted its holdings in Corteva by 16.5% in the 4th quarter. Wedmont Private Capital now owns 4,708 shares of the company's stock valued at $269,000 after purchasing an additional 668 shares in the last quarter. SeaCrest Wealth Management LLC lifted its holdings in Corteva by 4.0% in the 4th 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 in the last quarter. Assenagon Asset Management S.A. lifted its holdings in Corteva by 755.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 552,769 shares of the company's stock valued at $31,486,000 after purchasing an additional 488,181 shares in the last quarter. Finally, Burney Co. lifted its holdings in Corteva by 6.3% in the 4th quarter. Burney Co. now owns 4,505 shares of the company's stock valued at $257,000 after purchasing an additional 266 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company's stock.

Insider Transactions at Corteva

In other Corteva news, insider Brian Titus sold 26,560 shares of Corteva stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $63.74, for a total value of $1,692,934.40. Following the completion of the transaction, the insider now owns 11,347 shares of the company's stock, valued at $723,257.78. The trade was a 70.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.14% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of Corteva in a report on Thursday, March 13th. They issued a "buy" rating and a $71.00 target price on the stock. Citigroup increased their price objective on shares of Corteva from $75.00 to $78.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Barclays raised their target price on shares of Corteva from $64.00 to $70.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 14th. KeyCorp raised their target price on shares of Corteva from $71.00 to $72.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Finally, Royal Bank of Canada raised their target price on shares of Corteva from $72.00 to $73.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. One research 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. Based on data from MarketBeat.com, Corteva presently has a consensus rating of "Moderate Buy" and a consensus target price of $70.50.

Corteva Stock Up 0.5%

Shares of CTVA stock traded up $0.32 during mid-day trading on Tuesday, reaching $69.13. 3,265,672 shares of the company were exchanged, compared to its average volume of 3,298,456. Corteva, Inc. has a fifty-two week low of $50.01 and a fifty-two week high of $69.28. 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 company has a market capitalization of $47.16 billion, a P/E ratio of 53.59, a P/E/G ratio of 1.68 and a beta of 0.72. The business's 50 day simple moving average is $61.81 and its 200 day simple moving average is $61.04.

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

Corteva Dividend Announcement

The business also recently declared 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. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date is Monday, June 2nd. Corteva's 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.