Corteva, Inc. (NYSE:CTVA) Holdings Lowered by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado trimmed its stake in shares of Corteva, Inc. (NYSE:CTVA) by 4.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 101,289 shares of the company’s stock after selling 4,877 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Corteva were worth $5,841,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Redmont Wealth Advisors LLC bought a new stake in shares of Corteva in the 1st quarter worth approximately $25,000. Acadian Asset Management LLC acquired a new stake in shares of Corteva during the first quarter valued at approximately $25,000. Rise Advisors LLC raised its holdings in shares of Corteva by 2,522.2% during the first quarter. Rise Advisors LLC now owns 472 shares of the company’s stock valued at $27,000 after acquiring an additional 454 shares during the period. ICA Group Wealth Management LLC acquired a new stake in shares of Corteva during the fourth quarter valued at approximately $28,000. Finally, Scarborough Advisors LLC acquired a new stake in shares of Corteva during the fourth quarter valued at approximately $29,000. 81.54% of the stock is currently owned by institutional investors.

Corteva Price Performance

Shares of CTVA traded up $0.01 during trading hours on Monday, hitting $55.40. The stock had a trading volume of 1,045,583 shares, compared to its average volume of 3,408,942. The company’s fifty day moving average is $53.68 and its two-hundred day moving average is $53.68. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.51 and a quick ratio of 0.97. Corteva, Inc. has a 52 week low of $43.22 and a 52 week high of $58.76. The stock has a market capitalization of $38.61 billion, a price-to-earnings ratio of 70.32, a P/E/G ratio of 1.50 and a beta of 0.77.

Corteva (NYSE:CTVA) last issued 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 company had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.65 billion. Corteva had a net margin of 3.32% and a return on equity of 6.68%. The company’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 anticipate that Corteva, Inc. will post 2.78 EPS for the current year.

Corteva Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.23%. This is an increase from Corteva’s previous quarterly dividend of $0.16. Corteva’s dividend payout ratio (DPR) is currently 81.01%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Barclays boosted their price target 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. Wells Fargo & Company boosted their price objective on shares of Corteva from $66.00 to $67.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $65.00 price objective on shares of Corteva in a report on Wednesday, June 12th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $57.00 target price (down from $58.00) on shares of Corteva in a research note on Friday, April 12th. Finally, Royal Bank of Canada upped their target price on shares of Corteva from $62.00 to $64.00 and gave the company an “outperform” rating in a research note on Monday, May 6th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $63.00.

Insider Activity at Corteva

In related 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 sale, the insider now directly owns 13,495 shares in the company, valued at approximately $764,491.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Corteva news, insider Brian Titus sold 12,134 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $56.65, for a total transaction of $687,391.10. Following the sale, the insider now directly owns 13,495 shares in the company, valued at approximately $764,491.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Cornel B. Fuerer sold 39,736 shares of the firm’s 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 sale, the senior vice president now owns 126,628 shares in the company, valued at $7,269,713.48. The disclosure for this sale can be found here. Insiders have sold 83,556 shares of company stock worth $4,795,016 in the last ninety days. Company insiders own 0.14% of the company’s stock.

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.