Perpetual Ltd Invests $229,000 in Corteva, Inc. (NYSE:CTVA)

Perpetual Ltd purchased a new stake in Corteva, Inc. (NYSE:CTVA) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,963 shares of the company’s stock, valued at approximately $229,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of CTVA. Rise Advisors LLC raised its holdings in shares of Corteva by 2,522.2% in the 1st quarter. Rise Advisors LLC now owns 472 shares of the company’s stock valued at $27,000 after purchasing an additional 454 shares in the last quarter. CVA Family Office LLC bought a new position in shares of Corteva in the 4th quarter worth $25,000. Scarborough Advisors LLC purchased a new stake in shares of Corteva during the 4th quarter worth $29,000. BKM Wealth Management LLC bought a new stake in Corteva during the fourth quarter valued at about $27,000. Finally, ICA Group Wealth Management LLC purchased a new position in Corteva in the fourth quarter valued at about $28,000. Institutional investors own 81.54% of the company’s stock.

Corteva Stock Performance

NYSE CTVA opened at $52.92 on Friday. The firm has a market capitalization of $36.88 billion, a P/E ratio of 66.99, a PEG ratio of 1.38 and a beta of 0.78. The stock has a 50-day simple moving average of $54.81 and a two-hundred day simple moving average of $52.42. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 1.51. Corteva, Inc. has a fifty-two week low of $43.22 and a fifty-two week high of $58.76.

Corteva (NYSE:CTVA) last posted its earnings results on Wednesday, May 1st. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.79 by $0.10. Corteva had a return on equity of 6.68% and a net margin of 3.32%. The firm had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.65 billion. During the same period last year, the company earned $1.16 earnings per share. Corteva’s revenue for the quarter was down 8.0% compared to the same quarter last year. On average, equities analysts forecast that Corteva, Inc. will post 2.8 earnings per share for the current year.

Corteva Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.21%. The ex-dividend date was Tuesday, June 4th. Corteva’s dividend payout ratio is currently 81.01%.

Wall Street Analysts Forecast Growth

CTVA has been the topic of several analyst reports. Wells Fargo & Company lifted their price target on shares of Corteva from $66.00 to $67.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. TheStreet raised Corteva from a “c+” rating to a “b-” rating in a research report on Tuesday, February 27th. OTR Global reissued a “negative” rating on shares of Corteva in a report on Friday, June 7th. Royal Bank of Canada boosted their price target on Corteva from $62.00 to $64.00 and gave the stock an “outperform” rating in a research note on Monday, May 6th. Finally, Canaccord Genuity Group increased 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 investment analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, Corteva has a consensus rating of “Moderate Buy” and an average price target of $63.00.

Insider Buying and Selling

In related news, insider Brian Titus sold 12,134 shares of the firm’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 sale, the insider now owns 13,495 shares in the company, valued at $764,491.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other 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 transaction of $2,281,243.76. Following the completion of the transaction, the senior vice president now directly owns 126,628 shares of the company’s stock, valued at approximately $7,269,713.48. The sale was disclosed in a filing with the SEC, which is available at 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 value of $687,391.10. Following 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. Over the last three months, insiders have sold 83,556 shares of company stock valued at $4,795,016. Corporate insiders own 0.14% of the company’s stock.

Corteva Company 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.