Simplicity Wealth LLC Purchases New Position in Corteva, Inc. (NYSE:CTVA)

Simplicity Wealth LLC acquired a new position in Corteva, Inc. (NYSE:CTVA) during the first quarter, HoldingsChannel reports. The institutional investor acquired 13,204 shares of the company’s stock, valued at approximately $761,000.

A number of other large investors have also added to or reduced their stakes in the company. &PARTNERS raised its stake in Corteva by 4.3% during the first quarter. &PARTNERS now owns 4,829 shares of the company’s stock valued at $278,000 after purchasing an additional 200 shares in the last quarter. Essex Financial Services Inc. raised its position in shares of Corteva by 3.2% during the 3rd quarter. Essex Financial Services Inc. now owns 6,883 shares of the company’s stock valued at $352,000 after buying an additional 215 shares in the last quarter. Baxter Bros Inc. lifted its holdings in shares of Corteva by 1.2% in the 4th quarter. Baxter Bros Inc. now owns 17,576 shares of the company’s stock valued at $842,000 after acquiring an additional 215 shares during the last quarter. Albion Financial Group UT grew its position in Corteva by 77.2% in the first quarter. Albion Financial Group UT now owns 505 shares of the company’s stock worth $29,000 after acquiring an additional 220 shares in the last quarter. Finally, NewSquare Capital LLC increased its stake in Corteva by 70.6% during the third quarter. NewSquare Capital LLC now owns 546 shares of the company’s stock worth $28,000 after acquiring an additional 226 shares during the last quarter. Institutional investors own 81.54% of the company’s stock.

Wall Street Analyst Weigh In

CTVA has been the subject of several analyst reports. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $57.00 price objective (down from $58.00) on shares of Corteva in a research note on Friday, April 12th. Mizuho boosted their price objective on shares of Corteva from $56.00 to $61.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Loop Capital upgraded shares of Corteva from a “hold” rating to a “buy” rating and raised their target price for the stock from $57.00 to $65.00 in a report on Monday, February 12th. BNP Paribas upgraded shares of Corteva from an “underperform” rating to a “neutral” rating and set a $53.00 price target on the stock in a report on Friday, February 2nd. Finally, Barclays increased their price objective on shares of Corteva from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 10th. Six equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Corteva presently has an average rating of “Moderate Buy” and an average target price of $63.24.

Insiders Place Their Bets

In other news, insider Brian Titus sold 12,134 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $56.65, for a total transaction of $687,391.10. Following the transaction, the insider now owns 13,495 shares in the company, valued at $764,491.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Brian Titus sold 12,134 shares of Corteva stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $56.65, for a total transaction of $687,391.10. Following the completion of the sale, the insider now owns 13,495 shares of the company’s stock, valued at $764,491.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Samuel R. Eathington sold 31,686 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $57.64, for a total transaction of $1,826,381.04. Following the completion of the transaction, the insider now owns 53,854 shares in the company, valued at approximately $3,104,144.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 83,556 shares of company stock worth $4,795,016. 0.20% of the stock is owned by corporate insiders.

Corteva Stock Up 0.5 %

Shares of NYSE CTVA traded up $0.29 during midday trading on Monday, reaching $56.74. 2,691,007 shares of the company’s stock traded hands, compared to its average volume of 3,610,838. The company has a market cap of $39.55 billion, a price-to-earnings ratio of 71.82, a P/E/G ratio of 1.49 and a beta of 0.78. Corteva, Inc. has a one year low of $43.22 and a one year high of $58.81. 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’s 50 day simple moving average is $55.97 and its 200-day simple moving average is $51.28.

Corteva (NYSE:CTVA) last announced its 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. The business had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $4.65 billion. Corteva had a return on equity of 6.68% and a net margin of 3.32%. The business’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.16 EPS. On average, analysts predict that Corteva, Inc. will post 2.82 EPS for the current fiscal year.

Corteva Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be issued a $0.16 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $0.64 dividend on an annualized basis and a yield of 1.13%. Corteva’s dividend payout ratio is presently 81.01%.

About Corteva

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.