Rockport Wealth LLC Takes Position in Corteva, Inc. (NYSE:CTVA)

Rockport Wealth LLC acquired a new position in Corteva, Inc. (NYSE:CTVA) in the first quarter, Holdings Channel.com reports. The fund acquired 5,614 shares of the company’s stock, valued at approximately $324,000.

A number of other institutional investors have also recently made changes to their positions in the business. Davis R M Inc. boosted its position in shares of Corteva by 36.4% in the 1st quarter. Davis R M Inc. now owns 6,765 shares of the company’s stock worth $390,000 after purchasing an additional 1,804 shares in the last quarter. Covestor Ltd boosted its position in shares of Corteva by 370.7% in the 1st quarter. Covestor Ltd now owns 1,544 shares of the company’s stock worth $89,000 after purchasing an additional 1,216 shares in the last quarter. Ironwood Investment Counsel LLC boosted its position in shares of Corteva by 9.5% in the 1st quarter. Ironwood Investment Counsel LLC now owns 60,515 shares of the company’s stock worth $3,490,000 after purchasing an additional 5,247 shares in the last quarter. Catalytic Wealth RIA LLC acquired a new stake in shares of Corteva in the 1st quarter worth $243,000. Finally, Acadian Asset Management LLC acquired a new stake in shares of Corteva in the 1st quarter worth $25,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analyst Upgrades and Downgrades

CTVA has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their price objective on Corteva from $66.00 to $67.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Oppenheimer lifted their price target on Corteva from $67.00 to $69.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. 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. Canaccord Genuity Group lifted their price target on Corteva from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Finally, Barclays lifted their price target on Corteva from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, Corteva currently has an average rating of “Moderate Buy” and a consensus price target of $63.00.

Insiders Place Their Bets

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 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 in the company, valued at approximately $7,269,713.48. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, 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 transaction of $2,281,243.76. Following the transaction, the senior vice president now directly owns 126,628 shares in the company, valued at approximately $7,269,713.48. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Brian Titus sold 12,134 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $56.65, for a total value of $687,391.10. Following the transaction, the insider now owns 13,495 shares in the company, valued at $764,491.75. The disclosure for this sale can be found here. In the last three months, insiders sold 83,556 shares of company stock worth $4,795,016. Corporate insiders own 0.14% of the company’s stock.

Corteva Price Performance

Shares of Corteva stock traded down $0.38 on Tuesday, hitting $54.39. The company’s stock had a trading volume of 1,625,510 shares, compared to its average volume of 3,448,374. 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, Inc. has a 1 year low of $43.22 and a 1 year high of $58.76. The firm has a fifty day moving average price of $53.84 and a 200-day moving average price of $53.46. The company has a market capitalization of $37.91 billion, a price-to-earnings ratio of 69.33, a price-to-earnings-growth ratio of 1.48 and a beta of 0.77.

Corteva (NYSE:CTVA) last posted 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. Corteva had a return on equity of 6.68% and a net margin of 3.32%. The company had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.65 billion. During the same period in the previous year, the business earned $1.16 EPS. Corteva’s quarterly revenue was down 8.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Corteva, Inc. will post 2.79 earnings per share for the current fiscal year.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $0.64 annualized dividend and a yield of 1.18%. Corteva’s dividend payout ratio (DPR) is currently 81.01%.

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.