Rockbridge Investment Management LCC bought a new stake in shares of Corteva (NYSE:CTVA) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,723 shares of the company’s stock, valued at approximately $73,000.
Several other large investors also recently modified their holdings of CTVA. RMR Wealth Builders purchased a new position in Corteva in the second quarter valued at approximately $57,000. Gamble Jones Investment Counsel bought a new stake in shares of Corteva in the second quarter valued at $214,000. AQR Capital Management LLC purchased a new position in shares of Corteva during the 2nd quarter valued at $3,254,000. Engineers Gate Manager LP grew its stake in shares of Corteva by 88.7% during the 2nd quarter. Engineers Gate Manager LP now owns 241,753 shares of the company’s stock worth $6,477,000 after acquiring an additional 113,632 shares during the period. Finally, California State Teachers Retirement System increased its holdings in Corteva by 1.5% in the 2nd quarter. California State Teachers Retirement System now owns 1,359,544 shares of the company’s stock worth $36,422,000 after acquiring an additional 20,257 shares during the last quarter. 78.27% of the stock is currently owned by institutional investors.
In other news, Director Gregory R. Page acquired 5,000 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were purchased at an average price of $25.30 per share, for a total transaction of $126,500.00. Following the completion of the transaction, the director now owns 35,758 shares of the company’s stock, valued at $904,677.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Rajan Gajaria acquired 2,010 shares of the stock in a transaction dated Monday, August 10th. The shares were purchased at an average cost of $25.20 per share, with a total value of $50,652.00. The disclosure for this purchase can be found here. Insiders have acquired 9,010 shares of company stock worth $227,172 over the last quarter. Company insiders own 0.22% of the company’s stock.
Several equities research analysts have commented on CTVA shares. KeyCorp raised shares of Corteva from a “sector weight” rating to an “overweight” rating and set a $31.00 price objective on the stock in a report on Tuesday, August 11th. Vertical Research upgraded shares of Corteva from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a research note on Tuesday, June 16th. Bank of America lowered shares of Corteva from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $32.00 to $28.00 in a research note on Monday, August 10th. Monness Crespi & Hardt cut shares of Corteva from a “neutral” rating to a “sell” rating and set a $24.00 target price on the stock. in a report on Monday, June 8th. Finally, Loop Capital dropped their price objective on Corteva from $32.00 to $30.00 and set a “hold” rating on the stock in a report on Tuesday, August 18th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Corteva currently has an average rating of “Hold” and an average target price of $30.53.
NYSE CTVA traded up $0.33 on Wednesday, reaching $29.78. 43,995 shares of the company’s stock traded hands, compared to its average volume of 3,622,582. Corteva has a 12 month low of $20.38 and a 12 month high of $32.08. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.92 and a quick ratio of 1.44. The stock has a 50-day simple moving average of $28.32 and a 200 day simple moving average of $26.57. The stock has a market cap of $22.05 billion, a PE ratio of 43.31, a P/E/G ratio of 2.35 and a beta of 0.87.
Corteva (NYSE:CTVA) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.06. Corteva had a net margin of 3.68% and a return on equity of 4.67%. The business had revenue of $5.19 billion for the quarter, compared to analysts’ expectations of $5.36 billion. As a group, analysts anticipate that Corteva will post 1.35 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend was Thursday, August 13th. Corteva’s payout ratio is currently 36.36%.
Corteva Company Profile
Corteva, Inc provides agriculture products worldwide. The company develops and supplies germplasm and traits in corn, soybean, and sunflower seed markets. It also supplies products to the agricultural input industry that protect against weeds, insects and other pests, and diseases, as well as to enhance crop health.
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