University of Texas Texas AM Investment Management Co. Acquires Shares of 22,755 Corteva, Inc. (NYSE:CTVA)

University of Texas Texas AM Investment Management Co. acquired a new stake in Corteva, Inc. (NYSE:CTVA) during the first quarter, Holdings Channel.com reports. The institutional investor acquired 22,755 shares of the company’s stock, valued at approximately $1,432,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. TCW Group Inc. boosted its holdings in Corteva by 4.6% in the 1st quarter. TCW Group Inc. now owns 49,814 shares of the company’s stock valued at $3,135,000 after purchasing an additional 2,182 shares in the last quarter. LPL Financial LLC lifted its position in shares of Corteva by 6.9% during the 1st quarter. LPL Financial LLC now owns 713,729 shares of the company’s stock valued at $44,915,000 after acquiring an additional 46,218 shares during the period. Empirical Finance LLC lifted its position in shares of Corteva by 2.2% during the 1st quarter. Empirical Finance LLC now owns 24,782 shares of the company’s stock valued at $1,560,000 after acquiring an additional 522 shares during the period. Bearing Point Capital LLC lifted its position in shares of Corteva by 23.8% during the 1st quarter. Bearing Point Capital LLC now owns 90,952 shares of the company’s stock valued at $5,724,000 after acquiring an additional 17,465 shares during the period. Finally, HB Wealth Management LLC lifted its position in shares of Corteva by 93.7% during the 1st quarter. HB Wealth Management LLC now owns 18,480 shares of the company’s stock valued at $1,163,000 after acquiring an additional 8,940 shares during the period. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Trading Up 0.4%

Shares of CTVA opened at $73.41 on Monday. The stock has a fifty day moving average of $72.84 and a two-hundred day moving average of $65.84. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.00 and a current ratio of 1.44. The company has a market capitalization of $50.08 billion, a PE ratio of 44.76, a price-to-earnings-growth ratio of 1.77 and a beta of 0.76. Corteva, Inc. has a fifty-two week low of $50.30 and a fifty-two week high of $77.41.

Corteva (NYSE:CTVA) last issued 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. The company had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.56 billion. Corteva had a return on equity of 7.84% and a net margin of 6.77%. Corteva’s revenue was down 1.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.89 EPS. As a group, analysts forecast that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 2nd were issued a $0.17 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.68 annualized dividend and a yield of 0.93%. Corteva’s dividend payout ratio (DPR) is presently 41.46%.

Analysts Set New Price Targets

CTVA has been the subject of a number of research reports. UBS Group lifted their price target on shares of Corteva from $76.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, July 9th. Jefferies Financial Group reiterated a “buy” rating on shares of Corteva in a research report on Friday, June 6th. Oppenheimer set a $87.00 price target on shares of Corteva and gave the company an “outperform” rating in a research report on Tuesday, July 15th. BMO Capital Markets lifted their price target on shares of Corteva from $74.00 to $86.00 and gave the company an “outperform” rating in a research report on Tuesday, July 8th. Finally, Argus upgraded Corteva from a “hold” rating to a “buy” rating and set a $69.00 price objective for the company in a research report on Monday, March 31st. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, Corteva has an average rating of “Moderate Buy” and an average target price of $77.38.

Corteva Company 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.