Intrua Financial LLC decreased its stake in shares of Corteva, Inc. (NYSE:CTVA – Get Rating) by 3.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,334 shares of the company's stock after selling 203 shares during the quarter. Intrua Financial LLC's holdings in Corteva were worth $343,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Moisand Fitzgerald Tamayo LLC acquired a new position in shares of Corteva during the 2nd quarter worth approximately $26,000. Hazlett Burt & Watson Inc. acquired a new position in shares of Corteva during the 1st quarter worth approximately $31,000. Better Money Decisions LLC acquired a new position in shares of Corteva during the 2nd quarter worth approximately $31,000. CVA Family Office LLC increased its holdings in shares of Corteva by 68.2% during the 2nd quarter. CVA Family Office LLC now owns 641 shares of the company's stock worth $35,000 after acquiring an additional 260 shares during the last quarter. Finally, Carolinas Wealth Consulting LLC increased its holdings in shares of Corteva by 454.5% during the 1st quarter. Carolinas Wealth Consulting LLC now owns 610 shares of the company's stock worth $35,000 after acquiring an additional 500 shares during the last quarter. Institutional investors and hedge funds own 79.02% of the company's stock.Get Corteva alerts:
Insider Buying and Selling
In other Corteva news, insider Audrey Grimm sold 10,000 shares of the company's stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $62.79, for a total value of $627,900.00. Following the completion of the transaction, the insider now owns 7,511 shares of the company's stock, valued at approximately $471,615.69. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.08% of the stock is owned by corporate insiders.
Corteva Stock PerformanceNYSE:CTVA opened at $66.33 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.08 and a current ratio of 1.69. Corteva, Inc. has a fifty-two week low of $43.74 and a fifty-two week high of $68.43. The company has a market cap of $47.39 billion, a price-to-earnings ratio of 35.47, a PEG ratio of 1.61 and a beta of 0.74. The stock has a fifty day moving average price of $62.96 and a 200-day moving average price of $59.66.
Corteva (NYSE:CTVA – Get Rating) last announced its quarterly earnings data on Friday, November 4th. The company reported ($0.12) earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.11. Corteva had a return on equity of 7.31% and a net margin of 7.95%. The business had revenue of $2.78 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the prior year, the company earned ($0.14) EPS. Corteva's revenue for the quarter was up 17.1% on a year-over-year basis. As a group, equities analysts anticipate that Corteva, Inc. will post 2.57 EPS for the current fiscal year.
Corteva declared that its Board of Directors has initiated a share repurchase program on Tuesday, September 13th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to reacquire up to 4.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.
Corteva Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Monday, November 14th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, November 10th. This represents a $0.60 annualized dividend and a dividend yield of 0.90%. Corteva's dividend payout ratio is currently 32.09%.
Analyst Ratings Changes
A number of research firms recently weighed in on CTVA. Deutsche Bank Aktiengesellschaft boosted their target price on Corteva from $68.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, September 15th. Loop Capital downgraded Corteva from a "buy" rating to a "hold" rating and boosted their price target for the company from $70.00 to $71.00 in a research note on Tuesday, November 15th. Barclays boosted their price target on Corteva from $71.00 to $75.00 and gave the company an "overweight" rating in a research note on Thursday, November 17th. Mizuho boosted their price target on Corteva from $74.00 to $76.00 and gave the company a "buy" rating in a research note on Monday, November 7th. Finally, Roth Capital upgraded Corteva from a "neutral" rating to a "buy" rating and boosted their price target for the company from $67.00 to $74.00 in a research note on Monday, August 8th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Corteva currently has a consensus rating of "Moderate Buy" and an average price target of $71.93.
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.
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