Cetera Investment Advisers Grows Position in Corteva, Inc. (NYSE:CTVA)

Cetera Investment Advisers raised its holdings in Corteva, Inc. (NYSE:CTVA) by 10.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 117,433 shares of the company’s stock after acquiring an additional 11,110 shares during the period. Cetera Investment Advisers’ holdings in Corteva were worth $6,689,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CTVA. JPMorgan Chase & Co. raised its holdings in shares of Corteva by 6.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,605,608 shares of the company’s stock valued at $270,764,000 after buying an additional 288,885 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of Corteva by 2.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 20,286 shares of the company’s stock valued at $1,155,000 after buying an additional 497 shares in the last quarter. Graypoint LLC purchased a new position in shares of Corteva during the 4th quarter valued at about $203,000. Czech National Bank raised its holdings in shares of Corteva by 5.7% during the 4th quarter. Czech National Bank now owns 149,019 shares of the company’s stock valued at $8,488,000 after buying an additional 8,001 shares in the last quarter. Finally, Wedmont Private Capital raised its holdings in shares of Corteva by 16.5% during the 4th quarter. Wedmont Private Capital now owns 4,708 shares of the company’s stock valued at $269,000 after buying an additional 668 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Price Performance

CTVA opened at $67.89 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45. Corteva, Inc. has a 52-week low of $50.01 and a 52-week high of $69.28. The stock has a market capitalization of $46.37 billion, a PE ratio of 52.63, a price-to-earnings-growth ratio of 1.68 and a beta of 0.72. The stock’s 50 day moving average price is $61.00 and its 200-day moving average price is $60.79.

Corteva (NYSE:CTVA) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.13 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.25. Corteva had a return on equity of 7.19% and a net margin of 5.36%. The company had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.56 billion. During the same period in the previous year, the company posted $0.89 earnings per share. The firm’s revenue was down 1.7% on a year-over-year basis. On average, equities research analysts predict that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 2nd will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.00%. The ex-dividend date is Monday, June 2nd. Corteva’s dividend payout ratio (DPR) is 41.46%.

Insiders Place Their Bets

In other Corteva news, insider Brian Titus sold 26,560 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $63.74, for a total value of $1,692,934.40. Following the sale, the insider now directly owns 11,347 shares of the company’s stock, valued at approximately $723,257.78. The trade was a 70.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

CTVA has been the topic of a number of research reports. Argus raised Corteva from a “hold” rating to a “buy” rating and set a $69.00 price objective on the stock in a report on Monday, March 31st. BNP Paribas raised Corteva to a “hold” rating in a research note on Monday, February 10th. Bank of America lifted their price target on Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. UBS Group lifted their price target on Corteva from $74.00 to $76.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. Finally, Barclays lifted their price target on Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $70.07.

About Corteva

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.