Legacy Financial Group LLC Makes New $217,000 Investment in Corteva, Inc. (NYSE:CTVA)

Legacy Financial Group LLC acquired a new position in Corteva, Inc. (NYSE:CTVAFree Report) during the first quarter, HoldingsChannel reports. The fund acquired 3,766 shares of the company’s stock, valued at approximately $217,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. DekaBank Deutsche Girozentrale lifted its stake in shares of Corteva by 18.2% during the third quarter. DekaBank Deutsche Girozentrale now owns 128,844 shares of the company’s stock valued at $6,357,000 after acquiring an additional 19,883 shares during the period. Rafferty Asset Management LLC lifted its stake in shares of Corteva by 11.2% during the third quarter. Rafferty Asset Management LLC now owns 52,867 shares of the company’s stock valued at $2,705,000 after acquiring an additional 5,315 shares during the period. QRG Capital Management Inc. acquired a new position in shares of Corteva during the third quarter valued at $2,218,000. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Corteva during the third quarter valued at $3,937,000. Finally, Nordea Investment Management AB lifted its stake in shares of Corteva by 2.2% during the third quarter. Nordea Investment Management AB now owns 74,027 shares of the company’s stock valued at $3,792,000 after acquiring an additional 1,577 shares during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CTVA shares. Wells Fargo & Company upped their price objective on Corteva from $66.00 to $67.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Mizuho dropped their price objective on Corteva from $61.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday. TheStreet upgraded Corteva from a “c+” rating to a “b-” rating in a report on Tuesday, February 27th. Canaccord Genuity Group upped their price objective on Corteva from $60.00 to $65.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Finally, Oppenheimer upped their price objective on Corteva from $67.00 to $69.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, Corteva currently has an average rating of “Moderate Buy” and an average target price of $63.00.

Check Out Our Latest Stock Analysis on Corteva

Insider Activity

In related news, insider Brian Titus sold 12,134 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $56.65, for a total transaction of $687,391.10. Following 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 document filed with the SEC, which is available at this hyperlink. In related news, insider Brian Titus sold 12,134 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $56.65, for a total transaction of $687,391.10. Following 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 document filed with the SEC, which is available at this hyperlink. Also, SVP Cornel B. Fuerer sold 39,736 shares of the firm’s stock in a transaction on 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 sale, the senior vice president now directly owns 126,628 shares in the company, valued at approximately $7,269,713.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 83,556 shares of company stock worth $4,795,016. Insiders own 0.14% of the company’s stock.

Corteva Price Performance

Shares of CTVA traded up $0.55 during midday trading on Friday, hitting $52.92. The company’s stock had a trading volume of 8,328,092 shares, compared to its average volume of 3,578,258. Corteva, Inc. has a one year low of $43.22 and a one year high of $58.76. The company’s fifty day simple moving average is $54.83 and its two-hundred day simple moving average is $52.37. The company has a quick ratio of 0.97, a current ratio of 1.51 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $36.88 billion, a price-to-earnings ratio of 66.96, a price-to-earnings-growth ratio of 1.38 and a beta of 0.78.

Corteva (NYSE:CTVAGet Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $4.65 billion. During the same quarter last year, the company posted $1.16 EPS. The company’s revenue for the quarter was down 8.0% compared to the same quarter last year. As a group, equities analysts expect that Corteva, Inc. will post 2.8 earnings per share for the current fiscal year.

Corteva Announces Dividend

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

Corteva Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Corteva (NYSE:CTVA)

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