Contravisory Investment Management Inc. Boosts Stock Holdings in Corteva, Inc. $CTVA

Contravisory Investment Management Inc. grew its position in Corteva, Inc. (NYSE:CTVA) by 204.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,256 shares of the company’s stock after purchasing an additional 9,581 shares during the period. Contravisory Investment Management Inc.’s holdings in Corteva were worth $964,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in CTVA. Peak Financial Advisors LLC bought a new position in shares of Corteva in the second quarter valued at approximately $505,000. PGGM Investments grew its stake in Corteva by 68.5% in the 2nd quarter. PGGM Investments now owns 1,223,444 shares of the company’s stock valued at $91,183,000 after purchasing an additional 497,200 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Corteva by 28.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,851,993 shares of the company’s stock valued at $179,476,000 after purchasing an additional 634,938 shares during the last quarter. S.E.E.D. Planning Group LLC raised its stake in shares of Corteva by 70.3% during the 2nd quarter. S.E.E.D. Planning Group LLC now owns 164,393 shares of the company’s stock worth $12,252,000 after purchasing an additional 67,869 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Corteva by 2.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,174,351 shares of the company’s stock worth $262,692,000 after purchasing an additional 84,506 shares during the period. 81.54% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Corteva from $90.00 to $85.00 and set a “buy” rating for the company in a report on Thursday, November 6th. Wolfe Research raised their price target on shares of Corteva from $79.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. BNP Paribas Exane upped their price objective on Corteva from $70.00 to $72.00 and gave the company a “neutral” rating in a research note on Monday, November 17th. UBS Group decreased their target price on Corteva from $85.00 to $81.00 and set a “buy” rating for the company in a research report on Thursday, October 30th. Finally, Rothschild & Co Redburn lowered their target price on Corteva from $71.00 to $65.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 11th. Sixteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $78.21.

Corteva Stock Up 0.7%

Corteva stock opened at $66.90 on Friday. The firm has a 50 day simple moving average of $64.45 and a 200 day simple moving average of $69.36. The company has a current ratio of 1.58, a quick ratio of 1.07 and a debt-to-equity ratio of 0.07. Corteva, Inc. has a 1-year low of $53.40 and a 1-year high of $77.41. The firm has a market capitalization of $45.20 billion, a price-to-earnings ratio of 28.59, a P/E/G ratio of 1.51 and a beta of 0.74.

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Tuesday, November 4th. The company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.26. Corteva had a return on equity of 9.37% and a net margin of 9.19%.The firm had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.47 billion. During the same period last year, the company earned ($0.49) earnings per share. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Monday, December 1st. Corteva’s payout ratio is presently 30.77%.

Corteva Profile

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.