Catalytic Wealth RIA LLC Acquires Shares of 4,214 Corteva, Inc. (NYSE:CTVA)

Catalytic Wealth RIA LLC acquired a new stake in Corteva, Inc. (NYSE:CTVA) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 4,214 shares of the company’s stock, valued at approximately $243,000.

Several other hedge funds also recently bought and sold shares of the business. &PARTNERS raised its stake in Corteva by 4.3% in the first quarter. &PARTNERS now owns 4,829 shares of the company’s stock valued at $278,000 after buying an additional 200 shares during the last quarter. Baxter Bros Inc. raised its stake in shares of Corteva by 1.2% in the fourth quarter. Baxter Bros Inc. now owns 17,576 shares of the company’s stock worth $842,000 after purchasing an additional 215 shares during the last quarter. Albion Financial Group UT raised its stake in shares of Corteva by 77.2% in the first quarter. Albion Financial Group UT now owns 505 shares of the company’s stock worth $29,000 after purchasing an additional 220 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Corteva by 1.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 17,986 shares of the company’s stock worth $1,037,000 after purchasing an additional 227 shares during the last quarter. Finally, Moody National Bank Trust Division raised its stake in shares of Corteva by 1.2% in the first quarter. Moody National Bank Trust Division now owns 19,660 shares of the company’s stock worth $1,134,000 after purchasing an additional 235 shares during the last quarter. Institutional investors own 81.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CTVA shares. BMO Capital Markets raised their price objective on Corteva from $64.00 to $67.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $57.00 target price (down from $58.00) on shares of Corteva in a report on Friday, April 12th. OTR Global reaffirmed a “negative” rating on shares of Corteva in a report on Friday, June 7th. Mizuho dropped their target price on Corteva from $61.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, June 18th. Finally, Oppenheimer raised 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 research analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $63.00.

Insider Activity

In other Corteva news, SVP Cornel B. Fuerer sold 39,736 shares of the 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 sale, the senior vice president now directly 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 Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Samuel R. Eathington sold 31,686 shares of the firm’s 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 of the company’s stock, valued at approximately $3,104,144.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Cornel B. Fuerer sold 39,736 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $57.41, for a total value of $2,281,243.76. Following 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 83,556 shares of company stock worth $4,795,016. 0.14% of the stock is currently owned by insiders.

Corteva Trading Down 0.0 %

Corteva stock traded down $0.01 during trading on Monday, reaching $54.77. 1,494,687 shares of the company were exchanged, compared to its average volume of 3,461,488. Corteva, Inc. has a 52-week low of $43.22 and a 52-week high of $58.76. The company has a market capitalization of $38.17 billion, a P/E ratio of 69.33, a PEG ratio of 1.48 and a beta of 0.77. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.51 and a quick ratio of 0.97. The stock’s 50 day simple moving average is $53.84 and its two-hundred day simple moving average is $53.46.

Corteva (NYSE:CTVA) last posted its earnings results on Wednesday, May 1st. The company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10. Corteva had a return on equity of 6.68% and a net margin of 3.32%. The company had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.65 billion. During the same quarter in the previous year, the business earned $1.16 earnings per share. The company’s revenue for the quarter was down 8.0% on a year-over-year basis. On average, equities research analysts expect that Corteva, Inc. will post 2.79 earnings per share for the current fiscal year.

Corteva Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th were issued a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.17%. Corteva’s payout ratio is currently 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.