Fortis Group Advisors LLC Boosts Stake in Corteva, Inc. (NYSE:CTVA)

Fortis Group Advisors LLC lifted its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 100.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 636 shares of the company’s stock after purchasing an additional 318 shares during the quarter. Fortis Group Advisors LLC’s holdings in Corteva were worth $30,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. CVA Family Office LLC bought a new position in shares of Corteva during the 4th quarter valued at about $25,000. Scarborough Advisors LLC purchased a new position in Corteva in the 4th quarter worth $29,000. BKM Wealth Management LLC bought a new stake in Corteva in the fourth quarter worth $27,000. Naples Money Management LLC purchased a new stake in Corteva during the fourth quarter valued at about $31,000. Finally, Criterion Capital Advisors LLC bought a new position in shares of Corteva during the fourth quarter valued at about $32,000. 81.54% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Corteva

In other Corteva news, insider Brian Titus sold 12,134 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $56.65, for a total transaction of $687,391.10. Following the transaction, the insider now owns 13,495 shares of the company’s stock, valued at approximately $764,491.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Corteva news, SVP Cornel B. Fuerer sold 39,736 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $57.41, for a total transaction of $2,281,243.76. Following the sale, the senior vice president now owns 126,628 shares of the company’s stock, valued at approximately $7,269,713.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Brian Titus sold 12,134 shares of the company’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 completion of the sale, the insider now directly owns 13,495 shares in the company, valued at $764,491.75. The disclosure for this sale can be found here. Insiders sold 83,556 shares of company stock worth $4,795,016 in the last 90 days. 0.14% of the stock is owned by corporate insiders.

Corteva Price Performance

Shares of NYSE:CTVA traded down $0.40 on Friday, reaching $51.18. The company’s stock had a trading volume of 1,619,280 shares, compared to its average volume of 3,225,146. Corteva, Inc. has a 52-week low of $43.22 and a 52-week high of $58.81. The company has a market cap of $35.67 billion, a P/E ratio of 64.78, a PEG ratio of 1.36 and a beta of 0.78. The company has a 50-day simple moving average of $55.24 and a 200 day simple moving average of $52.29. 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 (NYSE:CTVA) last released its earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.10. The firm had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.65 billion. Corteva had a net margin of 3.32% and a return on equity of 6.68%. The business’s revenue was down 8.0% on a year-over-year basis. During the same quarter last year, the business earned $1.16 EPS. As a group, equities research analysts anticipate that Corteva, Inc. will post 2.8 EPS for the current fiscal year.

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be issued 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 1.25%. Corteva’s payout ratio is 81.01%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CTVA. Wolfe Research initiated coverage on shares of Corteva in a research note on Friday, March 1st. They issued an “outperform” rating and a $67.00 target price on the stock. TheStreet upgraded Corteva from a “c+” rating to a “b-” rating in a report on Tuesday, February 27th. JPMorgan Chase & Co. reaffirmed 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. Mizuho boosted their target price on Corteva from $56.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Finally, KeyCorp lifted their price objective on Corteva from $63.00 to $66.00 and gave the company an “overweight” rating in a research report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $63.05.

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.