Corteva, Inc. (NYSE:CTVA) Shares Bought by Moody National Bank Trust Division

Moody National Bank Trust Division raised its position in Corteva, Inc. (NYSE:CTVA) by 11.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,996 shares of the company’s stock after buying an additional 2,190 shares during the quarter. Moody National Bank Trust Division’s holdings in Corteva were worth $1,384,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Flagship Wealth Advisors LLC acquired a new position in Corteva in the 4th quarter valued at about $25,000. Noble Wealth Management PBC purchased a new position in shares of Corteva in the 4th quarter valued at approximately $26,000. Hager Investment Management Services LLC acquired a new position in shares of Corteva in the fourth quarter valued at approximately $27,000. Pinney & Scofield Inc. purchased a new stake in shares of Corteva during the fourth quarter worth approximately $27,000. Finally, LGT Financial Advisors LLC purchased a new stake in shares of Corteva during the fourth quarter worth approximately $31,000. 81.54% of the stock is owned by institutional investors and hedge funds.

Corteva Price Performance

Corteva stock opened at $70.81 on Friday. The firm has a market capitalization of $48.30 billion, a PE ratio of 54.89, a P/E/G ratio of 1.68 and a beta of 0.72. Corteva, Inc. has a 52 week low of $50.01 and a 52 week high of $71.01. The firm’s 50-day simple moving average is $63.29 and its 200 day simple moving average is $61.64. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08.

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

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 2nd will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend is Monday, June 2nd. Corteva’s payout ratio is 41.46%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Wells Fargo & Company boosted their price objective on shares of Corteva from $73.00 to $79.00 and gave the company an “overweight” rating in a research note on Monday, May 12th. Barclays boosted their price target on shares of Corteva from $64.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 14th. BNP Paribas raised shares of Corteva to a “hold” rating in a report on Monday, February 10th. KeyCorp lifted their price objective on Corteva from $71.00 to $72.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Finally, Bank of America increased their target price on Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Corteva presently has a consensus rating of “Moderate Buy” and an average target price of $70.50.

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.