LRI Investments LLC Invests $479,000 in Corteva, Inc. (NYSE:CTVA)

LRI Investments LLC acquired a new position in shares of Corteva, Inc. (NYSE:CTVA) during the first quarter, Holdings Channel.com reports. The institutional investor acquired 8,366 shares of the company’s stock, valued at approximately $479,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CTVA. American Century Companies Inc. boosted its stake in Corteva by 12.5% during the third quarter. American Century Companies Inc. now owns 96,151 shares of the company’s stock worth $4,919,000 after buying an additional 10,711 shares during the last quarter. SG Americas Securities LLC boosted its stake in Corteva by 206.0% during the fourth quarter. SG Americas Securities LLC now owns 31,875 shares of the company’s stock worth $1,527,000 after buying an additional 21,457 shares during the last quarter. CoreCap Advisors LLC raised its position in Corteva by 41.2% in the fourth quarter. CoreCap Advisors LLC now owns 8,852 shares of the company’s stock valued at $424,000 after purchasing an additional 2,585 shares during the period. CVA Family Office LLC purchased a new stake in Corteva in the fourth quarter valued at $25,000. Finally, Portside Wealth Group LLC raised its position in Corteva by 6.3% in the fourth quarter. Portside Wealth Group LLC now owns 4,495 shares of the company’s stock valued at $215,000 after purchasing an additional 266 shares during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analyst Ratings Changes

CTVA has been the topic of a number of research analyst reports. BMO Capital Markets lifted their target price on Corteva from $64.00 to $67.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Wells Fargo & Company boosted their price objective on Corteva from $66.00 to $67.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Royal Bank of Canada boosted their price objective on Corteva from $62.00 to $64.00 and gave the company an “outperform” rating in a report on Monday, May 6th. OTR Global reiterated a “negative” rating on shares of Corteva in a report on Friday, June 7th. Finally, Canaccord Genuity Group boosted their price objective on Corteva from $60.00 to $65.00 and gave the company a “buy” rating in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, Corteva has a consensus rating of “Moderate Buy” and an average target price of $63.00.

Insiders Place Their Bets

In other Corteva news, SVP Cornel B. Fuerer sold 39,736 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $57.41, for a total transaction of $2,281,243.76. Following the completion of the sale, the senior vice president now directly owns 126,628 shares of the company’s stock, valued at approximately $7,269,713.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Corteva news, SVP Cornel B. Fuerer sold 39,736 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $57.41, for a total transaction of $2,281,243.76. Following the completion of the sale, the senior vice president now directly owns 126,628 shares of the company’s stock, valued at approximately $7,269,713.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 value of $1,826,381.04. Following the sale, the insider now directly owns 53,854 shares of the company’s stock, valued at $3,104,144.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 83,556 shares of company stock valued at $4,795,016. 0.14% of the stock is owned by company insiders.

Corteva Stock Performance

Shares of NYSE CTVA traded up $0.11 during trading hours on Friday, reaching $55.39. The stock had a trading volume of 2,272,011 shares, compared to its average volume of 2,433,612. The firm has a market cap of $38.61 billion, a price-to-earnings ratio of 70.11, a PEG ratio of 1.49 and a beta of 0.77. 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, Inc. has a fifty-two week low of $43.22 and a fifty-two week high of $58.76. The firm has a 50-day moving average of $53.68 and a 200-day moving average of $53.63.

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 analysts’ consensus estimates of $0.79 by $0.10. The firm had revenue of $4.49 billion during 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 was down 8.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.16 EPS. Equities research analysts predict that Corteva, Inc. will post 2.78 earnings per share for the current year.

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.