Fidelis Capital Partners LLC Makes New $73,000 Investment in Corteva, Inc. (NYSE:CTVA)

Fidelis Capital Partners LLC bought a new stake in Corteva, Inc. (NYSE:CTVAFree Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,262 shares of the company’s stock, valued at approximately $73,000.

Other hedge funds also recently modified their holdings of the company. Capital International Investors lifted its position in shares of Corteva by 47.2% during the 4th quarter. Capital International Investors now owns 25,758,735 shares of the company’s stock worth $1,234,359,000 after buying an additional 8,260,808 shares in the last quarter. Norges Bank purchased a new position in Corteva in the fourth quarter worth $265,298,000. Harris Associates L P boosted its position in Corteva by 87.1% in the fourth quarter. Harris Associates L P now owns 9,011,702 shares of the company’s stock worth $431,841,000 after purchasing an additional 4,194,981 shares during the last quarter. Glenview Capital Management LLC grew its stake in Corteva by 116.6% in the 4th quarter. Glenview Capital Management LLC now owns 4,698,725 shares of the company’s stock valued at $225,163,000 after purchasing an additional 2,529,539 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Corteva by 19.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 13,236,504 shares of the company’s stock valued at $634,293,000 after purchasing an additional 2,141,428 shares during the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Insider Activity at Corteva

In other Corteva news, insider Brian Titus sold 12,134 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $56.65, for a total value of $687,391.10. Following the completion of the transaction, the insider now owns 13,495 shares of the company’s stock, valued at approximately $764,491.75. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Corteva news, SVP Cornel B. Fuerer sold 39,736 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $57.41, for a total value of $2,281,243.76. Following the completion of the sale, the senior vice president now owns 126,628 shares of the company’s stock, valued at $7,269,713.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Brian Titus sold 12,134 shares of the 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 owns 13,495 shares in the company, valued at $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 three months. 0.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CTVA. Canaccord Genuity Group increased their price target 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. Mizuho reduced their target price on shares of Corteva from $61.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, June 18th. Royal Bank of Canada lifted their price target on shares of Corteva from $62.00 to $64.00 and gave the stock an “outperform” rating in a report on Monday, May 6th. Oppenheimer increased their price objective on Corteva from $67.00 to $69.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Finally, KeyCorp raised their target price on Corteva from $63.00 to $66.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. 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. Based on data from MarketBeat.com, Corteva currently has an average rating of “Moderate Buy” and an average price target of $63.00.

Get Our Latest Stock Analysis on CTVA

Corteva Stock Down 1.4 %

CTVA opened at $51.72 on Tuesday. The firm has a market capitalization of $36.05 billion, a P/E ratio of 65.47, a price-to-earnings-growth ratio of 1.40 and a beta of 0.77. Corteva, Inc. has a one year low of $43.22 and a one year high of $58.76. The company has a fifty day moving average price of $54.46 and a 200-day moving average price of $53.07. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.51 and a quick ratio of 0.97.

Corteva (NYSE:CTVAGet Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.89 earnings per share (EPS) 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 analyst estimates of $4.65 billion. Corteva had a return on equity of 6.68% and a net margin of 3.32%. The firm’s quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter last year, the company earned $1.16 earnings per share. Equities research analysts expect that Corteva, Inc. will post 2.8 earnings per share for the current fiscal year.

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend was Tuesday, June 4th. Corteva’s dividend payout ratio (DPR) is 81.01%.

About Corteva

(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.

Featured Articles

Institutional Ownership by Quarter for Corteva (NYSE:CTVA)

Receive News & Ratings for Corteva Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corteva and related companies with MarketBeat.com's FREE daily email newsletter.