Corteva, Inc. (NYSE:CTVA) Holdings Raised by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado increased its stake in Corteva, Inc. (NYSE:CTVAFree Report) by 1,162.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 106,166 shares of the company’s stock after purchasing an additional 97,755 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Corteva were worth $5,087,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Janney Montgomery Scott LLC raised its holdings in shares of Corteva by 17.8% during the third quarter. Janney Montgomery Scott LLC now owns 116,088 shares of the company’s stock valued at $5,939,000 after acquiring an additional 17,553 shares during the period. Sequoia Financial Advisors LLC grew its holdings in shares of Corteva by 4.0% during the third quarter. Sequoia Financial Advisors LLC now owns 13,319 shares of the company’s stock valued at $681,000 after buying an additional 510 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Corteva by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,070,089 shares of the company’s stock valued at $208,226,000 after buying an additional 53,991 shares during the period. Pathstone Family Office LLC boosted its position in Corteva by 594.5% during the 3rd quarter. Pathstone Family Office LLC now owns 70,895 shares of the company’s stock worth $3,627,000 after acquiring an additional 60,687 shares during the period. Finally, HighTower Advisors LLC increased its holdings in shares of Corteva by 7.7% in the 3rd quarter. HighTower Advisors LLC now owns 275,961 shares of the company’s stock valued at $14,116,000 after purchasing an additional 19,651 shares during the period. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Price Performance

Shares of Corteva stock opened at $52.90 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.51 and a quick ratio of 0.97. The company has a market cap of $36.87 billion, a PE ratio of 66.96, a price-to-earnings-growth ratio of 1.45 and a beta of 0.78. The firm has a fifty day moving average price of $55.80 and a two-hundred day moving average price of $52.01. Corteva, Inc. has a fifty-two week low of $43.22 and a fifty-two week high of $58.81.

Corteva (NYSE:CTVAGet Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.79 by $0.10. Corteva had a return on equity of 6.68% and a net margin of 3.32%. The firm had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter in the prior year, the firm posted $1.16 EPS. The company’s revenue for the quarter was down 8.0% on a year-over-year basis. Analysts expect that Corteva, Inc. will post 2.82 EPS for the current year.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be paid a dividend of $0.16 per share. The ex-dividend date is Tuesday, June 4th. This represents a $0.64 dividend on an annualized basis and a yield of 1.21%. Corteva’s dividend payout ratio is currently 81.01%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CTVA. KeyCorp boosted their price objective on shares of Corteva from $63.00 to $66.00 and gave the company an “overweight” rating in a research report on Tuesday, April 9th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $57.00 price target (down from $58.00) on shares of Corteva in a research note on Friday, April 12th. Loop Capital raised Corteva from a “hold” rating to a “buy” rating and lifted their price objective for the company from $57.00 to $65.00 in a research report on Monday, February 12th. Canaccord Genuity Group upped their target price on Corteva from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Corteva from $62.00 to $65.00 and gave the company a “buy” rating in a report on Monday, May 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $63.05.

Read Our Latest Stock Analysis on Corteva

Insider Buying and Selling at Corteva

In related 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 completion of the transaction, the insider now owns 13,495 shares of the company’s stock, valued at $764,491.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Samuel R. Eathington sold 31,686 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $57.64, for a total value of $1,826,381.04. Following the sale, the insider now owns 53,854 shares in the company, valued at approximately $3,104,144.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian Titus sold 12,134 shares of the 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 sale, the insider now owns 13,495 shares of the company’s stock, valued at approximately $764,491.75. The disclosure for this sale can be found here. Insiders have sold 83,556 shares of company stock valued at $4,795,016 in the last 90 days. 0.14% of the stock is currently owned by company insiders.

About Corteva

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Corteva (NYSE:CTVA)

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