Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 264 Shares of Corteva, Inc. (NYSE:CTVA)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its position in Corteva, Inc. (NYSE:CTVA) by 0.2% during the first quarter, Holdings Channel.com reports. The fund owned 154,062 shares of the company’s stock after selling 264 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Corteva were worth $8,885,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Addison Capital Co raised its holdings in shares of Corteva by 4.3% during the first quarter. Addison Capital Co now owns 12,884 shares of the company’s stock valued at $743,000 after acquiring an additional 532 shares in the last quarter. Headlands Technologies LLC raised its holdings in Corteva by 25.4% in the 1st quarter. Headlands Technologies LLC now owns 8,518 shares of the company’s stock worth $491,000 after purchasing an additional 1,723 shares in the last quarter. Sei Investments Co. lifted its position in shares of Corteva by 5.6% in the 1st quarter. Sei Investments Co. now owns 1,231,913 shares of the company’s stock worth $71,045,000 after purchasing an additional 64,846 shares during the period. Bedel Financial Consulting Inc. bought a new stake in shares of Corteva during the 1st quarter valued at about $215,000. Finally, Allegheny Financial Group LTD increased its position in shares of Corteva by 9.8% during the first quarter. Allegheny Financial Group LTD now owns 6,997 shares of the company’s stock valued at $404,000 after buying an additional 624 shares during the period. 81.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Mizuho lowered their price objective on shares of Corteva from $61.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday, June 18th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $65.00 target price on shares of Corteva in a research note on Wednesday, June 12th. Wells Fargo & Company upped their price target on Corteva from $66.00 to $67.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $57.00 price objective (down previously from $58.00) on shares of Corteva in a report on Friday, April 12th. Finally, Barclays boosted their target price on shares of Corteva from $55.00 to $58.00 and gave the company an “equal weight” rating in a report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Corteva has an average rating of “Moderate Buy” and an average price target of $63.00.

Corteva Stock Up 2.5 %

CTVA traded up $1.31 during trading on Tuesday, hitting $54.21. 2,818,042 shares of the company’s stock traded hands, compared to its average volume of 3,494,439. The stock has a market capitalization of $37.78 billion, a price-to-earnings ratio of 68.62, a PEG ratio of 1.43 and a beta of 0.77. The company’s 50 day simple moving average is $54.03 and its two-hundred day simple moving average is $53.26. Corteva, Inc. has a 12-month low of $43.22 and a 12-month high of $58.76. The company has a current ratio of 1.51, a quick ratio of 0.97 and a debt-to-equity ratio of 0.10.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.79 by $0.10. Corteva had a return on equity of 6.68% and a net margin of 3.32%. The company had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $4.65 billion. During the same period last year, the firm posted $1.16 earnings per share. Corteva’s revenue was down 8.0% compared to the same quarter last year. Analysts predict that Corteva, Inc. will post 2.79 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th were given a dividend of $0.16 per share. The ex-dividend date was Tuesday, June 4th. This represents a $0.64 dividend on an annualized basis and a yield of 1.18%. Corteva’s dividend payout ratio (DPR) is 81.01%.

Insider Buying and Selling

In related news, insider Brian Titus sold 12,134 shares of Corteva stock in a transaction on Monday, May 6th. The stock was sold at an average price of $56.65, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Brian Titus sold 12,134 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $56.65, for a total value of $687,391.10. Following the transaction, the insider now owns 13,495 shares in the company, valued at approximately $764,491.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Samuel R. Eathington sold 31,686 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $57.64, for a total transaction of $1,826,381.04. Following the sale, the insider now owns 53,854 shares of the company’s stock, valued at $3,104,144.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 83,556 shares of company stock worth $4,795,016. 0.14% of the stock is owned by insiders.

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.