Employees Retirement System of Texas Increases Stock Position in Corteva, Inc. (NYSE:CTVA)

Employees Retirement System of Texas increased its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 33.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 634,000 shares of the company’s stock after purchasing an additional 160,000 shares during the period. Employees Retirement System of Texas owned 0.09% of Corteva worth $36,328,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Barrett & Company Inc. purchased a new position in Corteva in the 1st quarter valued at $29,000. Blume Capital Management Inc. raised its holdings in Corteva by 103.8% during the second quarter. Blume Capital Management Inc. now owns 542 shares of the company’s stock worth $31,000 after purchasing an additional 276 shares in the last quarter. Carolinas Wealth Consulting LLC lifted its position in Corteva by 454.5% in the first quarter. Carolinas Wealth Consulting LLC now owns 610 shares of the company’s stock valued at $35,000 after purchasing an additional 500 shares during the period. Ellevest Inc. boosted its holdings in Corteva by 239.4% in the 1st quarter. Ellevest Inc. now owns 611 shares of the company’s stock valued at $37,000 after purchasing an additional 431 shares in the last quarter. Finally, Quilter Plc acquired a new position in Corteva during the 1st quarter worth approximately $611,688,000. 80.56% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Corteva

In related news, CFO David J. Anderson acquired 2,000 shares of the business’s stock in a transaction on Friday, September 15th. The shares were bought at an average cost of $52.97 per share, with a total value of $105,940.00. Following the completion of the transaction, the chief financial officer now directly owns 65,308 shares of the company’s stock, valued at approximately $3,459,364.76. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Robert D. King acquired 640 shares of the firm’s stock in a transaction on Tuesday, November 14th. The stock was bought at an average cost of $46.77 per share, with a total value of $29,932.80. Following the transaction, the executive vice president now directly owns 59,701 shares in the company, valued at approximately $2,792,215.77. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO David J. Anderson acquired 2,000 shares of the stock in a transaction on Friday, September 15th. The shares were acquired at an average price of $52.97 per share, with a total value of $105,940.00. Following the purchase, the chief financial officer now owns 65,308 shares in the company, valued at $3,459,364.76. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 2,990 shares of company stock worth $151,066. 0.14% of the stock is currently owned by corporate insiders.

Corteva Trading Up 0.0 %

Shares of CTVA traded up $0.01 during trading hours on Tuesday, hitting $46.87. The stock had a trading volume of 563,202 shares, compared to its average volume of 3,541,432. The company’s fifty day simple moving average is $49.58 and its 200 day simple moving average is $53.02. The firm has a market cap of $33.03 billion, a P/E ratio of 36.05, a P/E/G ratio of 1.39 and a beta of 0.80. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.97 and a current ratio of 1.58. Corteva, Inc. has a 12-month low of $43.22 and a 12-month high of $67.55.

Corteva (NYSE:CTVA) last issued its earnings results on Wednesday, November 8th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.03. Corteva had a return on equity of 7.47% and a net margin of 5.38%. The business had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.63 billion. During the same quarter in the previous year, the business earned ($0.12) EPS. The company’s revenue for the quarter was down 6.7% on a year-over-year basis. Equities research analysts forecast that Corteva, Inc. will post 2.61 EPS for the current fiscal year.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date is Thursday, November 30th. Corteva’s dividend payout ratio is presently 49.23%.

Analyst Ratings Changes

CTVA has been the topic of a number of analyst reports. KeyCorp decreased their price target on Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research note on Friday, November 10th. Morgan Stanley lowered their price target on shares of Corteva from $80.00 to $60.00 and set an “overweight” rating on the stock in a research note on Friday, November 10th. Credit Suisse Group reiterated an “outperform” rating and issued a $74.00 price objective on shares of Corteva in a research note on Friday, August 4th. Oppenheimer upgraded shares of Corteva from a “market perform” rating to an “outperform” rating and set a $67.00 target price on the stock in a research report on Friday, October 20th. Finally, UBS Group upgraded shares of Corteva from a “neutral” rating to a “buy” rating and lifted their price target for the company from $63.00 to $67.00 in a research report on Tuesday, September 5th. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $65.44.

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.