Red Mountain Financial LLC Has $1.34 Million Position in Corteva, Inc. $CTVA

Red Mountain Financial LLC raised its stake in Corteva, Inc. (NYSE:CTVA) by 2.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,999 shares of the company’s stock after purchasing an additional 481 shares during the period. Corteva accounts for approximately 1.7% of Red Mountain Financial LLC’s investment portfolio, making the stock its 20th biggest position. Red Mountain Financial LLC’s holdings in Corteva were worth $1,341,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Maryland Capital Advisors Inc. acquired a new position in shares of Corteva in the second quarter valued at $29,000. Valley National Advisers Inc. grew its stake in shares of Corteva by 85.9% in the first quarter. Valley National Advisers Inc. now owns 526 shares of the company’s stock valued at $33,000 after acquiring an additional 243 shares in the last quarter. Richardson Capital Management LLC acquired a new position in shares of Corteva in the first quarter valued at about $37,000. von Borstel & Associates Inc. acquired a new position in shares of Corteva in the first quarter valued at about $44,000. Finally, Horizon Financial Services LLC grew its stake in shares of Corteva by 4,444.4% in the first quarter. Horizon Financial Services LLC now owns 818 shares of the company’s stock valued at $51,000 after acquiring an additional 800 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CTVA shares. KeyCorp upped their price target on shares of Corteva from $84.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, August 8th. Oppenheimer set a $87.00 price target on shares of Corteva and gave the company an “outperform” rating in a research note on Tuesday, July 15th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Corteva from $83.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, September 15th. Jefferies Financial Group restated a “buy” rating on shares of Corteva in a research note on Friday, June 6th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Corteva in a research note on Monday, August 11th. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $80.36.

Insider Transactions at Corteva

In related news, EVP Robert D. King sold 37,280 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $74.20, for a total value of $2,766,176.00. Following the completion of the transaction, the executive vice president owned 49,262 shares in the company, valued at $3,655,240.40. This trade represents a 43.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.14% of the stock is currently owned by company insiders.

Corteva Stock Up 2.9%

CTVA stock opened at $63.27 on Friday. The stock has a market capitalization of $42.96 billion, a P/E ratio of 30.86, a price-to-earnings-growth ratio of 1.39 and a beta of 0.76. The company has a current ratio of 1.68, a quick ratio of 1.23 and a debt-to-equity ratio of 0.06. Corteva, Inc. has a 12 month low of $53.40 and a 12 month high of $77.41. The firm has a 50-day moving average price of $71.44 and a 200-day moving average price of $68.84.

Corteva (NYSE:CTVA) last posted its earnings results on Wednesday, August 6th. The company reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.31. The firm had revenue of $6.46 billion during the quarter, compared to analysts’ expectations of $6.26 billion. Corteva had a net margin of 8.16% and a return on equity of 8.68%. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.83 earnings per share. As a group, equities research analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were issued a $0.18 dividend. This is a boost from Corteva’s previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, September 2nd. This represents a $0.72 dividend on an annualized basis and a yield of 1.1%. Corteva’s dividend payout ratio (DPR) is 35.12%.

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.