Tower Research Capital LLC TRC Boosts Stake in Corteva, Inc. (NYSE:CTVA)

Tower Research Capital LLC TRC boosted its stake in Corteva, Inc. (NYSE:CTVAFree Report) by 87.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 82,098 shares of the company’s stock after buying an additional 38,391 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Corteva were worth $3,934,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CTVA. CVA Family Office LLC purchased a new position in shares of Corteva during the 4th quarter worth $25,000. BKM Wealth Management LLC purchased a new position in shares of Corteva during the 4th quarter worth $27,000. Naples Money Management LLC purchased a new position in shares of Corteva during the 4th quarter worth $31,000. Criterion Capital Advisors LLC purchased a new position in shares of Corteva during the 4th quarter worth $32,000. Finally, Private Wealth Management Group LLC purchased a new position in shares of Corteva during the 4th quarter worth $33,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Stock Down 3.7 %

Shares of Corteva stock opened at $52.90 on Friday. The business has a 50-day moving average of $55.80 and a 200-day moving average of $52.01. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.51 and a quick ratio of 0.97. The company has a market capitalization of $36.87 billion, a PE ratio of 66.96, a P/E/G ratio of 1.43 and a beta of 0.78. Corteva, Inc. has a 1-year low of $43.22 and a 1-year high of $58.81.

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

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $0.64 annualized dividend and a dividend yield of 1.21%. Corteva’s payout ratio is 81.01%.

Wall Street Analysts Forecast Growth

CTVA has been the topic of a number of recent analyst reports. Canaccord Genuity Group increased their price target on Corteva from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Barclays increased their price target on Corteva from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 10th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $57.00 target price (down from $58.00) on shares of Corteva in a research report on Friday, April 12th. TheStreet raised Corteva from a “c+” rating to a “b-” rating in a research report on Tuesday, February 27th. Finally, Wolfe Research started coverage on Corteva in a research report on Friday, March 1st. They issued an “outperform” rating and a $67.00 target price on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.05.

Read Our Latest Analysis on CTVA

Insiders Place Their Bets

In other Corteva news, insider Brian Titus sold 12,134 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $56.65, for a total value of $687,391.10. Following the transaction, the insider now owns 13,495 shares of the company’s stock, valued at $764,491.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Cornel B. Fuerer sold 39,736 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $57.41, for a total transaction of $2,281,243.76. Following 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian Titus sold 12,134 shares of Corteva stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $56.65, for a total transaction of $687,391.10. Following the completion of the transaction, the insider now owns 13,495 shares in the company, valued at approximately $764,491.75. The disclosure for this sale can be found here. Insiders have sold 83,556 shares of company stock valued at $4,795,016 over the last quarter. Insiders own 0.14% of the company’s stock.

Corteva Company 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.

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Institutional Ownership by Quarter for Corteva (NYSE:CTVA)

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