16,164 Shares in Corteva, Inc. $CTVA Bought by Machina Capital S.A.S.

Machina Capital S.A.S. bought a new stake in Corteva, Inc. (NYSE:CTVA) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 16,164 shares of the company’s stock, valued at approximately $1,205,000.

Other hedge funds also recently bought and sold shares of the company. Snider Financial Group grew its stake in shares of Corteva by 5.4% in the 2nd quarter. Snider Financial Group now owns 17,477 shares of the company’s stock valued at $1,303,000 after buying an additional 890 shares in the last quarter. iA Global Asset Management Inc. lifted its stake in Corteva by 435.3% in the second quarter. iA Global Asset Management Inc. now owns 31,100 shares of the company’s stock valued at $2,318,000 after acquiring an additional 25,290 shares during the last quarter. Versor Investments LP bought a new stake in Corteva in the second quarter worth approximately $672,000. Syverson Strege & Co increased its stake in shares of Corteva by 33.2% during the 2nd quarter. Syverson Strege & Co now owns 6,017 shares of the company’s stock worth $448,000 after purchasing an additional 1,499 shares during the last quarter. Finally, Linscomb Wealth Inc. raised its holdings in shares of Corteva by 2.5% during the 2nd quarter. Linscomb Wealth Inc. now owns 84,162 shares of the company’s stock valued at $6,273,000 after purchasing an additional 2,083 shares in the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Corteva

In other news, EVP Robert D. King sold 37,280 shares of the business’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the transaction, the executive vice president owned 49,262 shares in the company, valued at approximately $3,655,240.40. The trade was a 43.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.15% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

CTVA has been the subject of a number of recent research reports. Mizuho decreased their price objective on shares of Corteva from $85.00 to $78.00 and set an “outperform” rating for the company in a report on Wednesday, October 8th. Citigroup downgraded Corteva from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $83.00 to $70.00 in a research note on Thursday, October 2nd. KeyCorp reissued a “sector weight” rating on shares of Corteva in a research note on Friday, October 3rd. Morgan Stanley set a $84.00 target price on Corteva in a report on Monday, September 15th. Finally, Jefferies Financial Group lowered their price target on Corteva from $92.00 to $85.00 in a report on Thursday, October 2nd. Fifteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Corteva currently has an average rating of “Moderate Buy” and an average target price of $79.65.

Corteva Price Performance

Shares of NYSE:CTVA opened at $61.93 on Tuesday. The company has a market cap of $42.06 billion, a price-to-earnings ratio of 30.21, a PEG ratio of 1.40 and a beta of 0.81. The business has a 50 day moving average price of $67.29 and a 200 day moving average price of $69.42. The company has a quick ratio of 1.23, a current ratio of 1.68 and a debt-to-equity ratio of 0.06. Corteva, Inc. has a twelve month low of $53.40 and a twelve month high of $77.41.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.31. Corteva had a return on equity of 8.68% and a net margin of 8.16%.The company had revenue of $6.46 billion during the quarter, compared to analyst estimates of $6.26 billion. During the same period in the previous year, the company earned $1.83 earnings per share. The company’s quarterly revenue was up 5.6% 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, December 15th. Shareholders of record on Monday, December 1st will be issued a $0.18 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $0.72 dividend on an annualized basis and a yield of 1.2%. Corteva’s dividend payout ratio is 35.12%.

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.