Headlands Technologies LLC Acquires New Position in Corteva, Inc. (NYSE:CTVA)

Headlands Technologies LLC bought a new stake in shares of Corteva, Inc. (NYSE:CTVA) during the 4th quarter, Holdings Channel reports. The firm bought 6,795 shares of the company’s stock, valued at approximately $326,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. CVA Family Office LLC bought a new position in shares of Corteva in the 4th quarter worth approximately $25,000. BKM Wealth Management LLC purchased a new stake in Corteva in the 4th quarter worth approximately $27,000. NewSquare Capital LLC increased its holdings in Corteva by 70.6% in the 3rd quarter. NewSquare Capital LLC now owns 546 shares of the company’s stock worth $28,000 after acquiring an additional 226 shares in the last quarter. Glass Jacobson Investment Advisors llc increased its holdings in Corteva by 234.3% in the 3rd quarter. Glass Jacobson Investment Advisors llc now owns 555 shares of the company’s stock worth $28,000 after acquiring an additional 389 shares in the last quarter. Finally, Union Savings Bank increased its holdings in Corteva by 58.5% in the 3rd quarter. Union Savings Bank now owns 577 shares of the company’s stock worth $30,000 after acquiring an additional 213 shares in the last quarter. Institutional investors own 81.54% of the company’s stock.

Corteva Trading Up 0.4 %

CTVA opened at $54.92 on Friday. The firm has a market cap of $38.38 billion, a price-to-earnings ratio of 53.84, a price-to-earnings-growth ratio of 1.44 and a beta of 0.77. Corteva, Inc. has a 52 week low of $43.22 and a 52 week high of $61.87. The business’s 50 day moving average is $55.28 and its two-hundred day moving average is $50.46. The company has a quick ratio of 0.90, a current ratio of 1.56 and a debt-to-equity ratio of 0.09.

Corteva (NYSE:CTVA) last released its earnings results on Thursday, February 1st. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.09. The business had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.54 billion. Corteva had a return on equity of 7.43% and a net margin of 4.27%. During the same quarter in the previous year, the company posted $0.16 earnings per share. On average, research analysts predict that Corteva, Inc. will post 2.84 EPS for the current year.

Corteva Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $0.64 dividend on an annualized basis and a yield of 1.17%. Corteva’s payout ratio is 62.75%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CTVA. Mizuho cut their price objective on shares of Corteva from $59.00 to $56.00 and set a “buy” rating for the company in a report on Thursday, February 1st. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $57.00 target price (down from $58.00) on shares of Corteva in a report on Friday, April 12th. KeyCorp raised their price target on Corteva from $63.00 to $66.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. Wolfe Research initiated coverage on Corteva in a research report on Friday, March 1st. They issued an “outperform” rating and a $67.00 price target for the company. Finally, TheStreet upgraded Corteva from a “c+” rating to a “b-” rating in a research report on Tuesday, February 27th. Six research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $63.29.

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.