Corteva, Inc. (NYSE:CTVA) Stock Position Lifted by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its position in Corteva, Inc. (NYSE:CTVAFree Report) by 0.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,266,605 shares of the company’s stock after acquiring an additional 2,109 shares during the quarter. Envestnet Asset Management Inc. owned 0.18% of Corteva worth $60,696,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. CVA Family Office LLC acquired a new position in Corteva in the fourth quarter worth $25,000. BKM Wealth Management LLC acquired a new position in shares of Corteva in the 4th quarter valued at about $27,000. Naples Money Management LLC acquired a new position in shares of Corteva in the 4th quarter valued at about $31,000. Criterion Capital Advisors LLC bought a new stake in shares of Corteva during the 4th quarter valued at about $32,000. Finally, Private Wealth Management Group LLC acquired a new stake in Corteva during the fourth quarter worth about $33,000. 81.54% of the stock is currently owned by institutional investors.

Corteva Trading Down 2.2 %

Shares of NYSE:CTVA opened at $51.71 on Tuesday. 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 market capitalization of $36.04 billion, a price-to-earnings ratio of 65.46, a PEG ratio of 1.40 and a beta of 0.78. Corteva, Inc. has a 1-year low of $43.22 and a 1-year high of $58.81. The company has a 50 day moving average price of $55.68 and a 200 day moving average price of $52.12.

Corteva (NYSE:CTVAGet Free Report) last issued its 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 return on equity of 6.68% and a net margin of 3.32%. The business had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $4.65 billion. During the same period in the previous year, the firm posted $1.16 EPS. The company’s quarterly revenue was down 8.0% on a year-over-year basis. On average, research analysts anticipate that Corteva, Inc. will post 2.82 EPS for the current fiscal year.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Tuesday, June 4th. Corteva’s dividend payout ratio is presently 81.01%.

Insiders Place Their Bets

In other Corteva news, insider Brian Titus sold 12,134 shares of Corteva stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $56.65, for a total transaction of $687,391.10. Following the transaction, the insider now directly owns 13,495 shares in the company, valued at approximately $764,491.75. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Samuel R. Eathington sold 31,686 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $57.64, for a total transaction of $1,826,381.04. Following the completion of the sale, the insider now directly owns 53,854 shares in the company, valued at $3,104,144.56. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Brian Titus sold 12,134 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $56.65, for a total transaction of $687,391.10. Following the transaction, the insider now owns 13,495 shares in the company, valued at $764,491.75. The disclosure for this sale can be found here. Insiders sold a total of 83,556 shares of company stock worth $4,795,016 over the last ninety days. 0.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

CTVA has been the subject of several recent research reports. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $57.00 target price (down from $58.00) on shares of Corteva in a report on Friday, April 12th. Barclays increased their target price on Corteva from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 10th. KeyCorp raised their target price on Corteva from $63.00 to $66.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. Loop Capital upgraded shares of Corteva from a “hold” rating to a “buy” rating and upped their price target for the stock from $57.00 to $65.00 in a research report on Monday, February 12th. Finally, Canaccord Genuity Group lifted their price objective on shares of Corteva from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Corteva has an average rating of “Moderate Buy” and a consensus price target of $63.05.

Read Our Latest Analysis on Corteva

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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