NBC Securities Inc. Purchases 1,867 Shares of Corteva, Inc. (NYSE:CTVA)

NBC Securities Inc. lifted its position in Corteva, Inc. (NYSE:CTVA) by 93,350.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,869 shares of the company’s stock after acquiring an additional 1,867 shares during the quarter. NBC Securities Inc.’s holdings in Corteva were worth $117,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Fiduciary Alliance LLC raised its holdings in shares of Corteva by 5.6% in the first quarter. Fiduciary Alliance LLC now owns 3,913 shares of the company’s stock valued at $246,000 after acquiring an additional 207 shares in the last quarter. Czech National Bank raised its holdings in Corteva by 5.7% in the first quarter. Czech National Bank now owns 157,461 shares of the company’s stock worth $9,909,000 after purchasing an additional 8,442 shares in the last quarter. Rhumbline Advisers raised its holdings in Corteva by 4.0% in the first quarter. Rhumbline Advisers now owns 1,320,074 shares of the company’s stock worth $83,072,000 after purchasing an additional 50,952 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its holdings in Corteva by 4.1% in the first quarter. Fifth Third Wealth Advisors LLC now owns 10,607 shares of the company’s stock worth $667,000 after purchasing an additional 416 shares in the last quarter. Finally, S.E.E.D. Planning Group LLC raised its holdings in Corteva by 0.4% in the first quarter. S.E.E.D. Planning Group LLC now owns 96,524 shares of the company’s stock worth $6,074,000 after purchasing an additional 421 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. UBS Group boosted their target price on shares of Corteva from $74.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. BNP Paribas upgraded shares of Corteva to a “hold” rating in a report on Monday, February 10th. Wells Fargo & Company boosted their target price on shares of Corteva from $73.00 to $79.00 and gave the stock an “overweight” rating in a report on Monday, May 12th. Citigroup boosted their target price on shares of Corteva from $75.00 to $78.00 and gave the stock a “buy” rating in a report on Friday, May 9th. Finally, Barclays boosted their price target on Corteva from $64.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 14th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Corteva presently has a consensus rating of “Moderate Buy” and an average target price of $70.50.

Corteva Price Performance

Shares of NYSE CTVA opened at $72.00 on Tuesday. The business’s 50 day moving average price is $64.33 and its 200 day moving average price is $62.23. The firm has a market cap of $49.12 billion, a P/E ratio of 55.81, a P/E/G ratio of 1.68 and a beta of 0.75. Corteva, Inc. has a 52 week low of $50.01 and a 52 week high of $72.30. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08.

Corteva (NYSE:CTVA) last issued its earnings results on Wednesday, May 7th. The company reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.25. The firm had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.56 billion. Corteva had a return on equity of 7.19% and a net margin of 5.36%. Corteva’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.89 earnings per share. On average, sell-side analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 2nd will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date is Monday, June 2nd. Corteva’s payout ratio is presently 41.46%.

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.