FORA Capital LLC Makes New Investment in Corteva, Inc. $CTVA

FORA Capital LLC bought a new position in Corteva, Inc. (NYSE:CTVA) in the first quarter, HoldingsChannel reports. The fund bought 47,216 shares of the company’s stock, valued at approximately $2,971,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Cary Street Partners Financial LLC raised its holdings in shares of Corteva by 20.7% during the 1st quarter. Cary Street Partners Financial LLC now owns 90,206 shares of the company’s stock valued at $5,677,000 after purchasing an additional 15,448 shares in the last quarter. Scissortail Wealth Management LLC raised its holdings in shares of Corteva by 72,080.0% during the 4th quarter. Scissortail Wealth Management LLC now owns 3,609 shares of the company’s stock valued at $206,000 after purchasing an additional 3,604 shares in the last quarter. Allworth Financial LP raised its holdings in shares of Corteva by 11.8% during the 1st quarter. Allworth Financial LP now owns 15,313 shares of the company’s stock valued at $945,000 after purchasing an additional 1,614 shares in the last quarter. Brighton Jones LLC raised its holdings in shares of Corteva by 307.2% during the 4th quarter. Brighton Jones LLC now owns 15,588 shares of the company’s stock valued at $888,000 after purchasing an additional 11,760 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in shares of Corteva by 13.9% during the 1st quarter. Farther Finance Advisors LLC now owns 4,387 shares of the company’s stock valued at $279,000 after purchasing an additional 536 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Stock Performance

NYSE CTVA opened at $73.90 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.68 and a quick ratio of 1.23. The firm has a market capitalization of $50.19 billion, a price-to-earnings ratio of 36.05, a P/E/G ratio of 1.68 and a beta of 0.75. The company’s fifty day moving average is $73.40 and its two-hundred day moving average is $67.23. Corteva, Inc. has a 52-week low of $53.40 and a 52-week high of $77.41.

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.31. The company had revenue of $6.46 billion for the quarter, compared to analyst estimates of $6.26 billion. Corteva had a net margin of 8.16% and a return on equity of 8.68%. The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period last year, the business posted $1.83 EPS. Equities research analysts forecast that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be given a $0.18 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $0.72 annualized dividend and a yield of 1.0%. This is a positive change from Corteva’s previous quarterly dividend of $0.17. Corteva’s dividend payout ratio (DPR) is 33.17%.

Analyst Ratings Changes

CTVA has been the topic of a number of recent research reports. Royal Bank Of Canada restated an “outperform” rating on shares of Corteva in a report on Monday, August 11th. Wall Street Zen upgraded shares of Corteva from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Citigroup raised their price target on shares of Corteva from $75.00 to $78.00 and gave the company a “buy” rating in a report on Friday, May 9th. Oppenheimer set a $87.00 target price on shares of Corteva and gave the company an “outperform” rating in a research note on Tuesday, July 15th. Finally, BMO Capital Markets lifted their target price on shares of Corteva from $74.00 to $86.00 and gave the stock an “outperform” rating in a report on Tuesday, July 8th. Thirteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $80.25.

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.