DT Investment Partners LLC Boosts Stock Position in Corteva, Inc. (NYSE:CTVA)

DT Investment Partners LLC boosted its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 634.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,050 shares of the company’s stock after purchasing an additional 13,000 shares during the quarter. DT Investment Partners LLC’s holdings in Corteva were worth $690,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Kingsview Wealth Management LLC increased its position in Corteva by 2.0% in the 3rd quarter. Kingsview Wealth Management LLC now owns 7,660 shares of the company’s stock worth $438,000 after purchasing an additional 153 shares during the last quarter. Centaurus Financial Inc. increased its holdings in shares of Corteva by 4.9% during the 1st quarter. Centaurus Financial Inc. now owns 3,867 shares of the company’s stock valued at $233,000 after acquiring an additional 182 shares during the last quarter. Laidlaw Wealth Management LLC increased its holdings in shares of Corteva by 5.1% during the 4th quarter. Laidlaw Wealth Management LLC now owns 3,968 shares of the company’s stock valued at $233,000 after acquiring an additional 194 shares during the last quarter. Arcataur Capital Management LLC increased its holdings in shares of Corteva by 2.4% during the 3rd quarter. Arcataur Capital Management LLC now owns 8,598 shares of the company’s stock valued at $440,000 after acquiring an additional 200 shares during the last quarter. Finally, Union Savings Bank increased its holdings in shares of Corteva by 58.5% during the 3rd quarter. Union Savings Bank now owns 577 shares of the company’s stock valued at $30,000 after acquiring an additional 213 shares during the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Corteva Trading Up 1.6 %

Shares of NYSE CTVA traded up $0.84 during midday trading on Friday, hitting $54.80. The stock had a trading volume of 2,052,668 shares, compared to its average volume of 2,638,496. The company’s 50-day simple moving average is $55.23 and its 200 day simple moving average is $50.30. The firm has a market cap of $38.30 billion, a P/E ratio of 53.73, a price-to-earnings-growth ratio of 1.41 and a beta of 0.77. Corteva, Inc. has a fifty-two week low of $43.22 and a fifty-two week high of $62.10. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.56 and a quick ratio of 0.90.

Corteva (NYSE:CTVA) last released its earnings results on Thursday, February 1st. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.06 by $0.09. Corteva had a return on equity of 7.43% and a net margin of 4.27%. The company had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.54 billion. During the same period last year, the firm earned $0.16 EPS. Research analysts anticipate that Corteva, Inc. will post 2.84 EPS for the current year.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $0.16 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.64 annualized dividend and a dividend yield of 1.17%. Corteva’s dividend payout ratio is currently 62.75%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CTVA. Royal Bank of Canada increased their target price on Corteva from $56.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. UBS Group decreased their target price on Corteva from $65.00 to $64.00 and set a “buy” rating for the company in a research note on Thursday, January 11th. Mizuho decreased their target price on Corteva from $59.00 to $56.00 and set a “buy” rating for the company in a research note on Thursday, February 1st. KeyCorp increased their target price on Corteva from $63.00 to $66.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. Finally, TheStreet upgraded Corteva from a “c+” rating to a “b-” rating in a research note on Tuesday, February 27th. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $63.29.

Corteva 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.