Quadrature Capital Ltd Decreases Position in Corteva, Inc. (NYSE:CTVA)

Quadrature Capital Ltd decreased its stake in Corteva, Inc. (NYSE:CTVA) by 50.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,961 shares of the company’s stock after selling 48,051 shares during the period. Quadrature Capital Ltd’s holdings in Corteva were worth $2,708,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Redmont Wealth Advisors LLC purchased a new position in Corteva in the first quarter valued at about $25,000. Acadian Asset Management LLC acquired a new stake in Corteva during the first quarter valued at approximately $25,000. Rise Advisors LLC raised its stake in Corteva by 2,522.2% during the first quarter. Rise Advisors LLC now owns 472 shares of the company’s stock valued at $27,000 after buying an additional 454 shares in the last quarter. Albion Financial Group UT raised its stake in Corteva by 77.2% during the first quarter. Albion Financial Group UT now owns 505 shares of the company’s stock valued at $29,000 after buying an additional 220 shares in the last quarter. Finally, CVA Family Office LLC acquired a new stake in Corteva during the fourth quarter valued at approximately $25,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Wall Street Analyst Weigh In

CTVA has been the topic of several research reports. Royal Bank of Canada upped their price objective on Corteva from $62.00 to $64.00 and gave the company an “outperform” rating in a research note on Monday, May 6th. OTR Global reiterated a “negative” rating on shares of Corteva in a research report on Friday, June 7th. Canaccord Genuity Group increased 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. Oppenheimer increased 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. Finally, Wells Fargo & Company increased their price target on Corteva from $66.00 to $67.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $63.00.

Insider Activity

In other news, SVP Cornel B. Fuerer sold 39,736 shares of the 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 completion of the sale, the senior vice president now owns 126,628 shares in the company, valued at $7,269,713.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Corteva 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 transaction, the insider now directly owns 53,854 shares in the company, valued at $3,104,144.56. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Cornel B. Fuerer sold 39,736 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were 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 owns 126,628 shares in the company, valued at $7,269,713.48. The disclosure for this sale can be found here. Insiders sold 83,556 shares of company stock worth $4,795,016 over the last quarter. Corporate insiders own 0.14% of the company’s stock.

Corteva Price Performance

Shares of CTVA traded up $0.11 during trading hours on Friday, hitting $55.39. 2,272,011 shares of the company were exchanged, compared to its average volume of 2,433,612. The company has a market capitalization of $38.61 billion, a PE ratio of 70.11, a PEG ratio of 1.50 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 firm has a fifty day simple moving average of $53.68 and a 200-day simple moving average of $53.63. Corteva, Inc. has a one year low of $43.22 and a one year high of $58.76.

Corteva (NYSE:CTVA) last released its earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10. The company had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.65 billion. Corteva had a return on equity of 6.68% and a net margin of 3.32%. The company’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.16 earnings per share. As a group, sell-side analysts predict that Corteva, Inc. will post 2.78 earnings per share for the current year.

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.