Mount Yale Investment Advisors LLC Grows Position in Corteva, Inc. (NYSE:CTVA)

Mount Yale Investment Advisors LLC raised its position in Corteva, Inc. (NYSE:CTVA) by 64.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,026 shares of the company’s stock after purchasing an additional 3,544 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in Corteva were worth $521,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CTVA. Capital International Investors raised its holdings in shares of Corteva by 47.2% in the 4th quarter. Capital International Investors now owns 25,758,735 shares of the company’s stock worth $1,234,359,000 after purchasing an additional 8,260,808 shares during the period. Norges Bank acquired a new stake in shares of Corteva in the fourth quarter valued at about $265,298,000. Harris Associates L P grew its stake in shares of Corteva by 87.1% in the fourth quarter. Harris Associates L P now owns 9,011,702 shares of the company’s stock valued at $431,841,000 after buying an additional 4,194,981 shares in the last quarter. Glenview Capital Management LLC grew its stake in shares of Corteva by 116.6% in the fourth quarter. Glenview Capital Management LLC now owns 4,698,725 shares of the company’s stock valued at $225,163,000 after buying an additional 2,529,539 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Corteva by 19.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 13,236,504 shares of the company’s stock valued at $634,293,000 after buying an additional 2,141,428 shares in the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Corteva

In other Corteva news, insider Brian Titus sold 12,134 shares of Corteva stock in a transaction on Monday, May 6th. The stock was sold at an average price of $56.65, for a total transaction of $687,391.10. Following the sale, the insider now owns 13,495 shares of the company’s stock, valued at approximately $764,491.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Corteva news, insider Brian Titus sold 12,134 shares of Corteva stock in a transaction on Monday, May 6th. The stock was sold at an average price of $56.65, for a total transaction of $687,391.10. Following the sale, the insider now owns 13,495 shares of the company’s stock, valued at approximately $764,491.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Samuel R. Eathington sold 31,686 shares of Corteva stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $57.64, for a total value of $1,826,381.04. Following the transaction, the insider now owns 53,854 shares in the company, valued at $3,104,144.56. The disclosure for this sale can be found here. Insiders have sold 83,556 shares of company stock valued at $4,795,016 in the last quarter. Corporate insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on CTVA shares. Wells Fargo & Company increased their target price on Corteva from $66.00 to $67.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. KeyCorp raised their price objective on Corteva from $63.00 to $66.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $65.00 price objective on shares of Corteva in a research note on Wednesday, June 12th. Mizuho lowered their price objective on Corteva from $61.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, June 18th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $57.00 price objective (down previously from $58.00) on shares of Corteva in a research note on Friday, April 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $63.00.

Corteva Stock Performance

Shares of NYSE CTVA traded up $0.07 during mid-day trading on Monday, hitting $55.46. The company had a trading volume of 1,871,915 shares, compared to its average volume of 3,414,680. The stock has a market cap of $38.65 billion, a price-to-earnings ratio of 70.32, a PEG ratio of 1.50 and a beta of 0.77. Corteva, Inc. has a 12 month low of $43.22 and a 12 month high of $58.76. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.51 and a quick ratio of 0.97. The firm’s 50 day simple moving average is $53.68 and its two-hundred day simple moving average is $53.68.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.10. The business had revenue of $4.49 billion for the quarter, compared to the consensus estimate 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 quarter last year, the business posted $1.16 EPS. As a group, equities research analysts forecast that Corteva, Inc. will post 2.78 earnings per share for the current year.

Corteva Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.23%. This is an increase from Corteva’s previous quarterly dividend of $0.16. Corteva’s payout ratio is presently 81.01%.

About Corteva

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.