Sawtooth Solutions LLC Invests $385,000 in Corteva, Inc. (NYSE:CTVA)

Sawtooth Solutions LLC acquired a new position in Corteva, Inc. (NYSE:CTVA) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 9,146 shares of the company’s stock, valued at approximately $385,000.

Several other hedge funds also recently modified their holdings of the company. State Street Corp lifted its holdings in shares of Corteva by 2.9% in the 2nd quarter. State Street Corp now owns 43,710,619 shares of the company’s stock worth $1,938,566,000 after acquiring an additional 1,224,797 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Corteva by 6.0% during the 2nd quarter. Geode Capital Management LLC now owns 14,017,942 shares of the company’s stock worth $620,127,000 after buying an additional 795,174 shares in the last quarter. Northern Trust Corp lifted its holdings in Corteva by 4.1% during the 2nd quarter. Northern Trust Corp now owns 12,949,955 shares of the company’s stock worth $574,331,000 after buying an additional 510,748 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Corteva by 0.9% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 8,128,380 shares of the company’s stock worth $360,494,000 after buying an additional 72,805 shares in the last quarter. Finally, Putnam Investments LLC lifted its holdings in Corteva by 4.9% during the 2nd quarter. Putnam Investments LLC now owns 7,260,236 shares of the company’s stock worth $321,992,000 after buying an additional 336,979 shares in the last quarter. Hedge funds and other institutional investors own 78.32% of the company’s stock.

In other Corteva news, Director Klaus A. Engel sold 4,000 shares of the firm’s stock in a transaction on Wednesday, December 8th. The shares were sold at an average price of $47.12, for a total transaction of $188,480.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.19% of the company’s stock.

A number of research firms have issued reports on CTVA. Citigroup increased their target price on shares of Corteva from $55.00 to $57.00 in a report on Tuesday. Loop Capital lowered shares of Corteva from a “buy” rating to a “hold” rating in a report on Monday, October 18th. Zacks Investment Research lowered shares of Corteva from a “buy” rating to a “hold” rating in a report on Wednesday. Roth Capital assumed coverage on shares of Corteva in a research report on Friday, October 8th. They issued a “buy” rating and a $53.00 price objective on the stock. Finally, Mizuho assumed coverage on shares of Corteva in a research report on Tuesday, October 12th. They issued a “buy” rating and a $53.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $51.29.

NYSE CTVA opened at $48.60 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.81 and a quick ratio of 1.25. The firm’s fifty day moving average price is $47.26 and its 200 day moving average price is $44.69. The company has a market capitalization of $35.43 billion, a price-to-earnings ratio of 22.09, a price-to-earnings-growth ratio of 1.20 and a beta of 0.79. Corteva, Inc. has a 12 month low of $36.54 and a 12 month high of $49.98.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Tuesday, November 2nd. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.31) by $0.17. Corteva had a net margin of 10.67% and a return on equity of 6.24%. The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.02 billion. During the same period last year, the firm posted ($0.39) EPS. As a group, sell-side analysts forecast that Corteva, Inc. will post 2.14 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 15th. Shareholders of record on Friday, November 12th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend was Wednesday, November 10th. Corteva’s payout ratio is currently 25.45%.

About Corteva

Corteva, Inc operates as a holding company. It engages in the provision of agricultural products. The firm operates through the following segments: Seed and Crop Protection. The Seed segment develops and supplies germplasm and traits that produce optimum yield for farms. The Crop Protection segment serves the global agricultural input industry with products that protect against weeds, insects and other pests, and disease and that improve overall crop health both above and below ground via nitrogen management and seed-applied technologies.

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Institutional Ownership by Quarter for Corteva (NYSE:CTVA)

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