Cardinal Capital Management Boosts Stock Position in Corteva, Inc. (NYSE:CTVA)

Cardinal Capital Management increased its stake in shares of Corteva, Inc. (NYSE:CTVA) by 1.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,417 shares of the company’s stock after purchasing an additional 448 shares during the quarter. Cardinal Capital Management’s holdings in Corteva were worth $1,662,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CTVA. Brighton Jones LLC increased its position in Corteva by 307.2% during the 4th quarter. Brighton Jones LLC now owns 15,588 shares of the company’s stock worth $888,000 after purchasing an additional 11,760 shares in the last quarter. V Square Quantitative Management LLC increased its position in Corteva by 4.5% during the 4th quarter. V Square Quantitative Management LLC now owns 5,218 shares of the company’s stock worth $297,000 after purchasing an additional 227 shares in the last quarter. Valeo Financial Advisors LLC increased its position in Corteva by 2.7% during the 4th quarter. Valeo Financial Advisors LLC now owns 9,849 shares of the company’s stock worth $561,000 after purchasing an additional 257 shares in the last quarter. Nations Financial Group Inc. IA ADV increased its position in Corteva by 7.8% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 7,125 shares of the company’s stock worth $406,000 after purchasing an additional 517 shares in the last quarter. Finally, Beacon Capital Management LLC increased its position in Corteva by 13.4% during the 4th quarter. Beacon Capital Management LLC now owns 1,341 shares of the company’s stock worth $76,000 after purchasing an additional 158 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on CTVA. UBS Group lifted their price target on Corteva from $74.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, May 8th. KeyCorp lifted their price target on Corteva from $71.00 to $72.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Oppenheimer restated an “outperform” rating and issued a $75.00 price target (up previously from $72.00) on shares of Corteva in a report on Friday, May 9th. The Goldman Sachs Group began coverage on Corteva in a report on Thursday, March 13th. They issued a “buy” rating and a $71.00 price target for the company. Finally, Wells Fargo & Company lifted their price target on Corteva from $73.00 to $79.00 and gave the company an “overweight” rating in a report on Monday, May 12th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Corteva currently has a consensus rating of “Moderate Buy” and an average price target of $70.92.

Corteva Stock Performance

NYSE CTVA opened at $74.14 on Tuesday. The firm has a market capitalization of $50.58 billion, a P/E ratio of 57.48, a P/E/G ratio of 1.68 and a beta of 0.75. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. Corteva, Inc. has a 1-year low of $50.30 and a 1-year high of $74.22. The business’s 50-day simple moving average is $65.91 and its 200-day simple moving average is $62.57.

Corteva (NYSE:CTVA) last announced its earnings results on Wednesday, May 7th. The company reported $1.13 EPS for the quarter, beating the consensus estimate of $0.88 by $0.25. The business had revenue of $4.42 billion for the quarter, compared to the consensus estimate of $4.56 billion. Corteva had a return on equity of 7.19% and a net margin of 5.36%. The company’s revenue was down 1.7% on a year-over-year basis. During the same period last year, the business posted $0.89 EPS. Equities analysts predict that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 2nd were issued a dividend of $0.17 per share. The ex-dividend date was Monday, June 2nd. This represents a $0.68 annualized dividend and a dividend yield of 0.92%. Corteva’s payout ratio is currently 41.46%.

Corteva Company 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.