Tritonpoint Wealth LLC Invests $1.26 Million in Corteva, Inc. (NYSE:CTVA)

Tritonpoint Wealth LLC bought a new position in Corteva, Inc. (NYSE:CTVA - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 26,307 shares of the company's stock, valued at approximately $1,261,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Corteva in the third quarter valued at $1,258,000. 17 Capital Partners LLC purchased a new position in Corteva during the fourth quarter valued at $1,649,000. Factory Mutual Insurance Co. lifted its position in Corteva by 10.7% during the fourth quarter. Factory Mutual Insurance Co. now owns 532,558 shares of the company's stock valued at $25,520,000 after buying an additional 51,500 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in Corteva by 9.7% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 777,833 shares of the company's stock valued at $39,794,000 after buying an additional 68,593 shares during the period. Finally, SG Americas Securities LLC lifted its position in Corteva by 206.0% during the fourth quarter. SG Americas Securities LLC now owns 31,875 shares of the company's stock valued at $1,527,000 after buying an additional 21,457 shares during the period. Institutional investors own 81.54% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CTVA. Loop Capital raised Corteva from a "hold" rating to a "buy" rating and lifted their price target for the stock from $57.00 to $65.00 in a research report on Monday, February 12th. Wolfe Research began coverage on Corteva in a research report on Friday, March 1st. They issued an "outperform" rating and a $67.00 price target for the company. Mizuho lowered their price target on Corteva from $59.00 to $56.00 and set a "buy" rating for the company in a research report on Thursday, February 1st. TheStreet raised Corteva from a "c+" rating to a "b-" rating in a research report on Tuesday, February 27th. Finally, Oppenheimer lifted their price target on Corteva from $60.00 to $62.00 and gave the stock an "outperform" rating in a research report on Friday, February 2nd. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $63.14.

Corteva Stock Performance

Shares of Corteva stock traded down $0.10 during trading hours on Friday, reaching $56.85. 2,226,724 shares of the stock traded hands, compared to its average volume of 3,365,418. The company has a 50 day moving average price of $54.38 and a 200 day moving average price of $50.01. The firm has a market capitalization of $39.73 billion, a price-to-earnings ratio of 55.74, a P/E/G ratio of 1.46 and a beta of 0.77. Corteva, Inc. has a one year low of $43.22 and a one year high of $63.37. The company has a quick ratio of 0.90, a current ratio of 1.56 and a debt-to-equity ratio of 0.09.

Corteva (NYSE:CTVA - Get Free Report) last announced its quarterly earnings data on Thursday, February 1st. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.09. The company had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.54 billion. Corteva had a return on equity of 7.43% and a net margin of 4.27%. During the same period in the previous year, the company posted $0.16 EPS. On average, equities research analysts expect that Corteva, Inc. will post 2.87 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a dividend of $0.16 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.13%. Corteva's dividend payout ratio (DPR) is presently 62.75%.

Corteva Company 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.