Duality Advisers LP Boosts Stock Position in Corteva, Inc. (NYSE:CTVA)

Duality Advisers LP raised its position in Corteva, Inc. (NYSE:CTVA) by 30.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,846 shares of the company’s stock after purchasing an additional 4,142 shares during the period. Duality Advisers LP’s holdings in Corteva were worth $1,029,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. CVA Family Office LLC purchased a new stake in Corteva in the 4th quarter worth approximately $25,000. Redmont Wealth Advisors LLC purchased a new position in Corteva during the first quarter worth about $25,000. BKM Wealth Management LLC acquired a new stake in Corteva in the 4th quarter worth about $27,000. Rise Advisors LLC grew its holdings in 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 buying an additional 454 shares during the period. Finally, ICA Group Wealth Management LLC acquired a new position in shares of Corteva during the 4th quarter valued at about $28,000. 81.54% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CTVA shares. Mizuho lowered their target price on shares of Corteva from $61.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday, June 18th. Royal Bank of Canada increased their target price on Corteva from $62.00 to $64.00 and gave the stock an “outperform” rating in a research report on Monday, May 6th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $57.00 price target (down previously from $58.00) on shares of Corteva in a research report on Friday, April 12th. OTR Global restated a “negative” rating on shares of Corteva in a report on Friday, June 7th. Finally, Oppenheimer boosted their target price on Corteva from $67.00 to $69.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. One 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $63.00.

Corteva Stock Performance

Shares of CTVA opened at $53.10 on Friday. Corteva, Inc. has a 52-week low of $43.22 and a 52-week high of $58.76. The company has a quick ratio of 0.97, a current ratio of 1.51 and a debt-to-equity ratio of 0.10. The firm has a market cap of $37.01 billion, a price-to-earnings ratio of 67.22, a PEG ratio of 1.40 and a beta of 0.77. The business’s 50 day moving average is $54.16 and its two-hundred day moving average is $53.11.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10. The firm had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.65 billion. Corteva had a net margin of 3.32% and a return on equity of 6.68%. The firm’s revenue was down 8.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.16 EPS. Analysts forecast that Corteva, Inc. will post 2.79 EPS for the current fiscal year.

Corteva Announces Dividend

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

Insider Buying and Selling at Corteva

In other news, insider Brian Titus sold 12,134 shares of Corteva stock in a transaction that occurred on Monday, May 6th. The stock was 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 in the company, valued at approximately $764,491.75. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Corteva news, insider Samuel R. Eathington sold 31,686 shares of Corteva stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $57.64, for a total value of $1,826,381.04. Following the completion of the transaction, the insider now directly owns 53,854 shares in the company, valued at $3,104,144.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Brian Titus sold 12,134 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $56.65, for a total value of $687,391.10. Following the sale, 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 worth $4,795,016 over the last quarter. 0.14% of the stock is owned by corporate insiders.

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.