Scotia Capital Inc. Acquires Shares of 5,481 Corteva, Inc. (NYSE:CTVA)

Scotia Capital Inc. bought a new position in shares of Corteva, Inc. (NYSE:CTVAFree Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,481 shares of the company’s stock, valued at approximately $263,000.

A number of other hedge funds have also modified their holdings of the business. Essex Financial Services Inc. lifted its position in Corteva by 3.2% during the third quarter. Essex Financial Services Inc. now owns 6,883 shares of the company’s stock worth $352,000 after buying an additional 215 shares in the last quarter. Baxter Bros Inc. raised its holdings in shares of Corteva by 1.2% during the 4th quarter. Baxter Bros Inc. now owns 17,576 shares of the company’s stock worth $842,000 after acquiring an additional 215 shares during the period. Wealthcare Advisory Partners LLC boosted its position in shares of Corteva by 4.7% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 5,361 shares of the company’s stock valued at $257,000 after acquiring an additional 242 shares during the last quarter. Westpac Banking Corp grew its holdings in shares of Corteva by 4.1% in the fourth quarter. Westpac Banking Corp now owns 6,290 shares of the company’s stock valued at $301,000 after purchasing an additional 249 shares during the period. Finally, Portside Wealth Group LLC increased its position in Corteva by 6.3% during the fourth quarter. Portside Wealth Group LLC now owns 4,495 shares of the company’s stock worth $215,000 after purchasing an additional 266 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CTVA has been the subject of several analyst reports. Barclays increased their price target on shares of Corteva from $55.00 to $58.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 10th. Canaccord Genuity Group raised their target price on Corteva from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Mizuho upped their price target on Corteva from $56.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Wells Fargo & Company raised their price objective on Corteva from $66.00 to $67.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Finally, BMO Capital Markets boosted their price objective on shares of Corteva from $64.00 to $67.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Six equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.05.

Check Out Our Latest Research Report on CTVA

Corteva Stock Performance

Shares of CTVA opened at $54.06 on Thursday. Corteva, Inc. has a 1 year low of $43.22 and a 1 year high of $58.81. The stock has a market capitalization of $37.68 billion, a PE ratio of 68.43, a PEG ratio of 1.47 and a beta of 0.78. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 1.51. The stock has a 50-day simple moving average of $55.95 and a 200-day simple moving average of $51.94.

Corteva (NYSE:CTVAGet Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.10. Corteva had a net margin of 3.32% and a return on equity of 6.68%. The company had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.65 billion. During the same quarter in the previous year, the firm earned $1.16 earnings per share. The firm’s quarterly revenue was down 8.0% on a year-over-year basis. On average, analysts predict that Corteva, Inc. will post 2.82 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.18%. The ex-dividend date is Tuesday, June 4th. Corteva’s dividend payout ratio (DPR) is presently 81.01%.

Insider Buying and Selling at Corteva

In other news, insider Samuel R. Eathington sold 31,686 shares of the stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $57.64, for a total value of $1,826,381.04. Following the transaction, the insider now owns 53,854 shares in the company, valued at approximately $3,104,144.56. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Corteva news, SVP Cornel B. Fuerer sold 39,736 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $57.41, for a total value of $2,281,243.76. Following the completion of the transaction, the senior vice president now owns 126,628 shares in the company, valued at $7,269,713.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Samuel R. Eathington sold 31,686 shares of Corteva stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $57.64, for a total value of $1,826,381.04. Following the sale, the insider now owns 53,854 shares in the company, valued at approximately $3,104,144.56. The disclosure for this sale can be found here. Insiders have sold a total of 83,556 shares of company stock worth $4,795,016 over the last ninety days. Corporate insiders own 0.20% of the company’s stock.

Corteva Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Corteva (NYSE:CTVA)

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