Albar Capital Ltd Acquires Shares of 472,557 Corteva, Inc. (NYSE:CTVA)

Albar Capital Ltd bought a new position in Corteva, Inc. (NYSE:CTVA) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 472,557 shares of the company’s stock, valued at approximately $22,645,000. Corteva accounts for 4.9% of Albar Capital Ltd’s holdings, making the stock its 6th largest holding. Albar Capital Ltd owned approximately 0.07% of Corteva as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Capital International Investors boosted its position in Corteva by 47.2% in the 4th quarter. Capital International Investors now owns 25,758,735 shares of the company’s stock valued at $1,234,359,000 after buying an additional 8,260,808 shares during the last quarter. Norges Bank acquired a new stake in Corteva during the 4th quarter valued at approximately $265,298,000. Harris Associates L P purchased a new stake in Corteva during the 3rd quarter worth approximately $246,423,000. Massachusetts Financial Services Co. MA raised its position in shares of Corteva by 19.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 13,236,504 shares of the company’s stock valued at $634,293,000 after purchasing an additional 2,141,428 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Corteva by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 81,346,924 shares of the company’s stock valued at $4,161,709,000 after buying an additional 1,941,323 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CTVA shares. Barclays lifted their price target on Corteva from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 10th. Wells Fargo & Company upped their price target on Corteva from $66.00 to $67.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Loop Capital raised shares of Corteva from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $57.00 to $65.00 in a report on Monday, February 12th. Oppenheimer increased their target price on shares of Corteva from $67.00 to $69.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Finally, Canaccord Genuity Group lifted their price target on shares of Corteva from $60.00 to $65.00 and gave the company a “buy” rating in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Corteva presently has an average rating of “Moderate Buy” and an average target price of $63.05.

Corteva Price Performance

Corteva stock traded down $2.02 during mid-day trading on Friday, hitting $52.90. The company’s stock had a trading volume of 3,750,902 shares, compared to its average volume of 3,093,683. The stock’s fifty day moving average price is $55.80 and its two-hundred day moving average price is $52.09. The stock has a market capitalization of $36.87 billion, a P/E ratio of 66.96, a P/E/G ratio of 1.40 and a beta of 0.78. The company has a quick ratio of 0.97, a current ratio of 1.51 and a debt-to-equity ratio of 0.10. Corteva, Inc. has a twelve month low of $43.22 and a twelve month high of $58.81.

Corteva (NYSE:CTVA) last released its earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.10. Corteva had a net margin of 3.32% and a return on equity of 6.68%. The business had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.65 billion. During the same period last year, the firm posted $1.16 earnings per share. The firm’s quarterly revenue was down 8.0% compared to the same quarter last year. Research analysts forecast that Corteva, Inc. will post 2.82 earnings per share for the current year.

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be issued a $0.16 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.21%. Corteva’s dividend payout ratio is 81.01%.

Insider Transactions at Corteva

In other news, insider Samuel R. Eathington sold 31,686 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Samuel R. Eathington sold 31,686 shares of the company’s stock in a transaction dated Thursday, May 9th. The stock was 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 owns 53,854 shares in the company, valued at approximately $3,104,144.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Cornel B. Fuerer sold 39,736 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 126,628 shares of the company’s stock, valued at $7,269,713.48. The disclosure for this sale can be found here. Insiders sold 83,556 shares of company stock valued at $4,795,016 over the last three months. 0.14% of the stock is owned by corporate insiders.

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.