HB Wealth Management LLC Has $354,000 Stake in Corteva, Inc. (NYSE:CTVA)

HB Wealth Management LLC lifted its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 25.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 6,138 shares of the company’s stock after acquiring an additional 1,245 shares during the period. HB Wealth Management LLC’s holdings in Corteva were worth $354,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Capital International Investors lifted its holdings in Corteva by 47.2% during the 4th quarter. Capital International Investors now owns 25,758,735 shares of the company’s stock valued at $1,234,359,000 after purchasing an additional 8,260,808 shares during the last quarter. Norges Bank bought a new position in Corteva during the 4th quarter valued at about $265,298,000. Harris Associates L P lifted its holdings in Corteva by 87.1% during the 4th quarter. Harris Associates L P now owns 9,011,702 shares of the company’s stock valued at $431,841,000 after purchasing an additional 4,194,981 shares during the last quarter. Glenview Capital Management LLC lifted its holdings in Corteva by 116.6% during the 4th quarter. Glenview Capital Management LLC now owns 4,698,725 shares of the company’s stock valued at $225,163,000 after purchasing an additional 2,529,539 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Corteva by 19.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 13,236,504 shares of the company’s stock worth $634,293,000 after acquiring an additional 2,141,428 shares during the last quarter. 81.54% of the stock is owned by institutional investors.

Insider Transactions at Corteva

In related news, insider Brian Titus sold 12,134 shares of Corteva stock in a transaction 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 completion of the sale, 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 SEC, which is accessible through the SEC website. In related news, insider Brian Titus sold 12,134 shares of Corteva stock in a transaction 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 completion of the sale, 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 SEC, which is accessible through the SEC website. Also, insider Samuel R. Eathington sold 31,686 shares of Corteva stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $57.64, for a total transaction of $1,826,381.04. Following the completion of the sale, the insider now directly owns 53,854 shares of the company’s stock, valued at approximately $3,104,144.56. The disclosure for this sale can be found here. Insiders sold a total of 83,556 shares of company stock valued at $4,795,016 in the last quarter. 0.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $57.00 target price (down from $58.00) on shares of Corteva in a research note on Friday, April 12th. Barclays lifted their price target on shares of Corteva from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 10th. Oppenheimer lifted their price target on shares of Corteva from $67.00 to $69.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Mizuho decreased their price objective 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. Finally, KeyCorp boosted their price objective on shares of Corteva from $63.00 to $66.00 and gave the company an “overweight” rating in a report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Corteva has an average rating of “Moderate Buy” and an average target price of $63.00.

Corteva Trading Down 0.8 %

NYSE CTVA traded down $0.44 during trading hours on Friday, reaching $52.04. The company’s stock had a trading volume of 588,375 shares, compared to its average volume of 3,529,399. The firm has a fifty day simple moving average of $54.59 and a 200-day simple moving average of $52.92. The stock has a market cap of $36.27 billion, a P/E ratio of 66.43, a P/E/G ratio of 1.40 and a beta of 0.77. Corteva, Inc. has a 52 week low of $43.22 and a 52 week high of $58.76. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.51 and a quick ratio of 0.97.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.79 by $0.10. The company had revenue of $4.49 billion during 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 company’s quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.16 EPS. Equities analysts forecast that Corteva, Inc. will post 2.8 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.23%. The ex-dividend date was Tuesday, June 4th. Corteva’s dividend payout ratio (DPR) is 81.01%.

About Corteva

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.