Townsquare Capital LLC Has $2.70 Million Position in Corteva, Inc. (NYSE:CTVA)

Townsquare Capital LLC raised its position in shares of Corteva, Inc. (NYSE:CTVA) by 2.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 42,912 shares of the company’s stock after purchasing an additional 901 shares during the quarter. Townsquare Capital LLC’s holdings in Corteva were worth $2,701,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Corteva by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 79,814,646 shares of the company’s stock valued at $5,022,736,000 after buying an additional 639,799 shares during the period. Capital World Investors boosted its stake in shares of Corteva by 2,874.6% during the 4th quarter. Capital World Investors now owns 12,812,151 shares of the company’s stock valued at $729,780,000 after buying an additional 12,381,436 shares during the period. Northern Trust Corp boosted its stake in shares of Corteva by 5.5% during the 4th quarter. Northern Trust Corp now owns 11,648,890 shares of the company’s stock valued at $663,521,000 after buying an additional 608,898 shares during the period. WCM Investment Management LLC boosted its stake in shares of Corteva by 1.4% during the 1st quarter. WCM Investment Management LLC now owns 6,978,187 shares of the company’s stock valued at $426,088,000 after buying an additional 98,770 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Corteva by 4.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,912,145 shares of the company’s stock valued at $309,121,000 after buying an additional 220,407 shares during the period. 81.54% of the stock is owned by institutional investors and hedge funds.

Corteva Price Performance

Shares of Corteva stock opened at $72.51 on Tuesday. The firm has a fifty day simple moving average of $73.32 and a 200-day simple moving average of $66.62. The stock has a market capitalization of $49.24 billion, a price-to-earnings ratio of 35.37, a PEG ratio of 1.64 and a beta of 0.75. The company has a current ratio of 1.68, a quick ratio of 1.23 and a debt-to-equity ratio of 0.06. Corteva, Inc. has a 1-year low of $51.00 and a 1-year high of $77.41.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.31. The business had revenue of $6.46 billion for the quarter, compared to the consensus estimate of $6.26 billion. Corteva had a net margin of 8.16% and a return on equity of 8.68%. Corteva’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the company posted $1.83 earnings per share. On average, sell-side analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be paid a $0.18 dividend. The ex-dividend date is Tuesday, September 2nd. This is a positive change from Corteva’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.0%. Corteva’s dividend payout ratio is currently 33.17%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on CTVA shares. UBS Group increased their price target on shares of Corteva from $90.00 to $91.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. Oppenheimer set a $87.00 price target on shares of Corteva and gave the stock an “outperform” rating in a research note on Tuesday, July 15th. Jefferies Financial Group restated a “buy” rating on shares of Corteva in a research note on Friday, June 6th. Royal Bank Of Canada restated an “outperform” rating on shares of Corteva in a research note on Monday. Finally, Citigroup increased their price target on shares of Corteva from $75.00 to $78.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $79.50.

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.