Trust Co. of Toledo NA OH Makes New $216,000 Investment in Corteva, Inc. (NYSE:CTVA)

Trust Co. of Toledo NA OH bought a new stake in shares of Corteva, Inc. (NYSE:CTVA) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 3,431 shares of the company’s stock, valued at approximately $216,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CTVA. Flagship Wealth Advisors LLC acquired a new stake in shares of Corteva in the 4th quarter valued at about $25,000. Noble Wealth Management PBC bought a new stake in shares of Corteva in the 4th quarter worth approximately $26,000. Pinney & Scofield Inc. acquired a new position in shares of Corteva during the fourth quarter valued at $27,000. LGT Financial Advisors LLC acquired a new position in Corteva during the 4th quarter valued at about $31,000. Finally, Centricity Wealth Management LLC bought a new stake in shares of Corteva during the fourth quarter valued at approximately $34,000. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CTVA. Morgan Stanley increased their price target on Corteva from $65.00 to $71.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. Barclays increased their target price on shares of Corteva from $64.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 14th. UBS Group raised their target price on shares of Corteva from $74.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday, May 8th. The Goldman Sachs Group began coverage on shares of Corteva in a research note on Thursday, March 13th. They issued a “buy” rating and a $71.00 price target for the company. Finally, Citigroup raised their price objective on shares of Corteva from $75.00 to $78.00 and gave the company a “buy” rating in a research note on Friday, May 9th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $70.92.

Corteva Stock Down 0.2%

NYSE CTVA opened at $72.36 on Monday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. The company’s 50 day simple moving average is $65.54 and its 200 day simple moving average is $62.49. Corteva, Inc. has a 12 month low of $50.30 and a 12 month high of $72.91. The company has a market capitalization of $49.36 billion, a P/E ratio of 56.09, a PEG ratio of 1.68 and a beta of 0.75.

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.25. The firm had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.56 billion. Corteva had a net margin of 5.36% and a return on equity of 7.19%. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.89 earnings per share. Equities research analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 2nd will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend is Monday, June 2nd. Corteva’s dividend payout ratio (DPR) is presently 41.46%.

Corteva 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.