Quest Partners LLC Invests $668,000 in Corteva, Inc. (NYSE:CTVA)

Quest Partners LLC acquired a new stake in Corteva, Inc. (NYSE:CTVA) in the fourth quarter, Holdings Channel reports. The fund acquired 13,934 shares of the company’s stock, valued at approximately $668,000.

Several other institutional investors have also made changes to their positions in the stock. WCM Investment Management LLC grew its position in Corteva by 3.1% in the fourth quarter. WCM Investment Management LLC now owns 7,103,146 shares of the company’s stock valued at $341,590,000 after acquiring an additional 213,949 shares during the last quarter. 17 Capital Partners LLC bought a new stake in Corteva during the 4th quarter worth $1,649,000. Factory Mutual Insurance Co. increased its position in Corteva by 10.7% in the 4th quarter. Factory Mutual Insurance Co. now owns 532,558 shares of the company’s stock valued at $25,520,000 after acquiring an additional 51,500 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in Corteva by 9.7% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 777,833 shares of the company’s stock valued at $39,794,000 after purchasing an additional 68,593 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Corteva by 1.1% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,760,701 shares of the company’s stock valued at $132,293,000 after buying an additional 31,171 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Cornel B. Fuerer sold 39,736 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $57.41, for a total transaction of $2,281,243.76. Following the transaction, the senior vice president now directly owns 126,628 shares in the company, valued at $7,269,713.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, SVP Cornel B. Fuerer sold 39,736 shares of Corteva stock in a transaction on Tuesday, May 14th. The shares were 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 in the company, valued at $7,269,713.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Samuel R. Eathington sold 31,686 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 53,854 shares of the company’s stock, valued at approximately $3,104,144.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 83,556 shares of company stock worth $4,795,016. Corporate insiders own 0.14% of the company’s stock.

Corteva Stock Up 0.6 %

CTVA opened at $56.98 on Thursday. The firm has a 50-day simple moving average of $56.03 and a two-hundred day simple moving average of $51.37. 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 company has a market capitalization of $39.71 billion, a PE ratio of 72.13, a price-to-earnings-growth ratio of 1.50 and a beta of 0.78. Corteva, Inc. has a 52 week low of $43.22 and a 52 week high of $58.81.

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 firm had revenue of $4.49 billion for the quarter, compared to analysts’ expectations of $4.65 billion. Corteva had a net margin of 3.32% and a return on equity of 6.68%. The business’s revenue was down 8.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.16 EPS. Analysts forecast that Corteva, Inc. will post 2.82 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be paid a dividend of $0.16 per share. The ex-dividend date is Tuesday, June 4th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.12%. Corteva’s dividend payout ratio is presently 81.01%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CTVA. 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 research report on Friday, February 2nd. Oppenheimer raised their target price on Corteva from $67.00 to $69.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Canaccord Genuity Group increased their price target on Corteva from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Royal Bank of Canada increased their target price on Corteva from $62.00 to $64.00 and gave the stock an “outperform” rating in a report on Monday, May 6th. Finally, Wolfe Research began coverage on Corteva in a report on Friday, March 1st. They issued an “outperform” rating and a $67.00 target price on the stock. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $63.05.

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.