Quest Partners LLC Makes New Investment in Corteva, Inc. (NYSE:CTVA)

Quest Partners LLC bought a new position in Corteva, Inc. (NYSE:CTVA) in the fourth quarter, according to its most recent filing with the SEC. The firm bought 13,934 shares of the company’s stock, valued at approximately $668,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. UBS Group AG raised its stake in Corteva by 15.6% in the 4th quarter. UBS Group AG now owns 1,739,788 shares of the company’s stock valued at $83,371,000 after purchasing an additional 235,385 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its stake in Corteva by 24.3% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 13,502 shares of the company’s stock worth $647,000 after acquiring an additional 2,643 shares in the last quarter. Norges Bank acquired a new stake in Corteva during the 4th quarter worth approximately $265,298,000. Manchester Capital Management LLC raised its position in Corteva by 15.7% in the 4th quarter. Manchester Capital Management LLC now owns 8,339 shares of the company’s stock valued at $400,000 after purchasing an additional 1,133 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund raised its stake in Corteva by 2.1% in the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 25,107 shares of the company’s stock valued at $1,203,000 after buying an additional 511 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CTVA shares. KeyCorp upped their price target on Corteva from $63.00 to $66.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 9th. Wells Fargo & Company upped their price target on Corteva from $66.00 to $67.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. BNP Paribas upgraded shares of Corteva from an “underperform” rating to a “neutral” rating and set a $53.00 target price for the company in a research report on Friday, February 2nd. Mizuho raised their price objective on Corteva from $56.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $57.00 price target (down previously from $58.00) on shares of Corteva in a research note on Friday, April 12th. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $63.05.

Insider Activity at Corteva

In other news, insider Brian Titus sold 12,134 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $56.65, for a total value of $687,391.10. Following the sale, the insider now directly owns 13,495 shares of the company’s stock, valued at $764,491.75. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, SVP Cornel B. Fuerer sold 39,736 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $57.41, for a total transaction of $2,281,243.76. Following the completion of the transaction, the senior vice president now owns 126,628 shares in the company, valued at $7,269,713.48. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Brian Titus sold 12,134 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $56.65, for a total transaction of $687,391.10. Following the completion of the sale, the insider now directly owns 13,495 shares in the company, valued at $764,491.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 83,556 shares of company stock worth $4,795,016. 0.14% of the stock is owned by corporate insiders.

Corteva Trading Up 0.6 %

Shares of CTVA opened at $56.98 on Thursday. The business’s fifty day moving average is $56.03 and its 200-day moving average is $51.37. The firm has a market cap of $39.71 billion, a price-to-earnings ratio of 72.13, a PEG ratio of 1.50 and a beta of 0.78. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 1.51. Corteva, Inc. has a 52-week low of $43.22 and a 52-week high of $58.81.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.10. The firm had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.65 billion. Corteva had a net margin of 3.32% and a return on equity of 6.68%. The business’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.16 EPS. Equities analysts anticipate that Corteva, Inc. will post 2.82 EPS for the current fiscal year.

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be paid a $0.16 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $0.64 annualized dividend and a dividend yield of 1.12%. Corteva’s payout ratio is 81.01%.

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.