Azimuth Capital Investment Management LLC Purchases New Position in Corteva, Inc. (NYSE:CTVA)
Azimuth Capital Investment Management LLC purchased a new stake in Corteva, Inc. (NYSE:CTVA – Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 123,120 shares of the company’s stock, valued at approximately $7,055,000.
A number of other institutional investors have also recently made changes to their positions in CTVA. Fairfield Bush & CO. bought a new position in shares of Corteva in the 1st quarter valued at about $45,000. Cibc World Market Inc. lifted its stake in Corteva by 420.1% in the first quarter. Cibc World Market Inc. now owns 37,890 shares of the company’s stock worth $2,178,000 after purchasing an additional 30,605 shares during the last quarter. Blair William & Co. IL lifted its stake in Corteva by 2.9% in the first quarter. Blair William & Co. IL now owns 94,498 shares of the company’s stock worth $5,432,000 after purchasing an additional 2,662 shares during the last quarter. Aviva PLC lifted its stake in Corteva by 38.1% in the first quarter. Aviva PLC now owns 146,289 shares of the company’s stock worth $8,409,000 after purchasing an additional 40,391 shares during the last quarter. Finally, Prudential PLC bought a new stake in Corteva in the first quarter worth about $799,000. Institutional investors own 80.56% of the company’s stock.
Analyst Ratings Changes
Several analysts have issued reports on CTVA shares. Wells Fargo & Company decreased their price objective on shares of Corteva from $73.00 to $66.00 and set an “overweight” rating for the company in a research note on Monday, October 23rd. Oppenheimer raised shares of Corteva from a “market perform” rating to an “outperform” rating and set a $67.00 price target for the company in a research note on Friday, October 20th. Roth Mkm decreased their price target on shares of Corteva from $82.00 to $63.00 and set a “buy” rating for the company in a research note on Wednesday, November 22nd. BMO Capital Markets decreased their price target on shares of Corteva from $70.00 to $64.00 and set an “outperform” rating for the company in a research note on Monday, October 30th. Finally, The Goldman Sachs Group decreased their price target on shares of Corteva from $65.00 to $56.00 and set a “neutral” rating for the company in a research note on Tuesday, October 24th. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $64.65.
Check Out Our Latest Report on Corteva
Insiders Place Their Bets
In related news, insider Samuel R. Eathington acquired 1,094 shares of the company’s stock in a transaction dated Tuesday, November 28th. The shares were purchased at an average cost of $46.07 per share, with a total value of $50,400.58. Following the completion of the acquisition, the insider now directly owns 41,066 shares of the company’s stock, valued at $1,891,910.62. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO David J. Anderson acquired 2,000 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were purchased at an average cost of $52.97 per share, with a total value of $105,940.00. Following the completion of the acquisition, the chief financial officer now directly owns 65,308 shares of the company’s stock, valued at $3,459,364.76. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Samuel R. Eathington acquired 1,094 shares of the company’s stock in a transaction dated Tuesday, November 28th. The shares were bought at an average cost of $46.07 per share, for a total transaction of $50,400.58. Following the completion of the acquisition, the insider now directly owns 41,066 shares of the company’s stock, valued at $1,891,910.62. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 4,084 shares of company stock valued at $201,467. 0.14% of the stock is currently owned by insiders.
Corteva Price Performance
NYSE CTVA opened at $45.15 on Friday. The firm’s fifty day simple moving average is $47.86 and its two-hundred day simple moving average is $51.95. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 0.09. Corteva, Inc. has a 12-month low of $43.22 and a 12-month high of $65.21. The firm has a market capitalization of $31.82 billion, a P/E ratio of 34.73, a P/E/G ratio of 1.38 and a beta of 0.73.
Corteva (NYSE:CTVA – Get Free Report) last released its quarterly earnings results on Wednesday, November 8th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.03. Corteva had a net margin of 5.38% and a return on equity of 7.47%. The business had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.63 billion. During the same period in the previous year, the company earned ($0.12) earnings per share. The business’s revenue for the quarter was down 6.7% on a year-over-year basis. Analysts forecast that Corteva, Inc. will post 2.59 EPS for the current fiscal year.
Corteva Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend is Thursday, November 30th. Corteva’s dividend payout ratio is currently 49.23%.
Corteva Profile (Free Report)
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.
Featured Stories
Want to see what other hedge funds are holding CTVA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Corteva, Inc. (NYSE:CTVA – Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Corteva, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Corteva wasn’t on the list.
While Corteva currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
Do you expect the global demand for energy to shrink?! If not, it’s time to take a look at how energy stocks can play a part in your portfolio.