NEOS Investment Management LLC Boosts Stock Position in Corteva, Inc. (NYSE:CTVA)

NEOS Investment Management LLC boosted its position in Corteva, Inc. (NYSE:CTVA) by 31.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 41,745 shares of the company’s stock after acquiring an additional 9,954 shares during the quarter. NEOS Investment Management LLC’s holdings in Corteva were worth $2,378,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Flagship Wealth Advisors LLC purchased a new position in shares of Corteva in the 4th quarter valued at about $25,000. Noble Wealth Management PBC purchased a new stake in shares of Corteva during the 4th quarter worth approximately $26,000. Hager Investment Management Services LLC purchased a new position in shares of Corteva in the 4th quarter valued at $27,000. Golden State Wealth Management LLC acquired a new stake in Corteva during the 4th quarter worth $32,000. Finally, Centricity Wealth Management LLC acquired a new stake in Corteva during the 4th quarter worth $34,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Insider Buying and Selling

In related news, insider Brian Titus sold 26,560 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the sale, the insider now owns 11,347 shares in the company, valued at approximately $723,257.78. This trade represents a 70.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.14% of the stock is currently owned by company insiders.

Corteva Trading Down 2.2 %

Shares of CTVA opened at $61.08 on Friday. Corteva, Inc. has a twelve month low of $50.01 and a twelve month high of $66.24. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $41.72 billion, a P/E ratio of 47.35, a PEG ratio of 1.68 and a beta of 0.79. The firm’s 50-day moving average is $62.53 and its two-hundred day moving average is $60.07.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.02). Corteva had a net margin of 5.36% and a return on equity of 7.19%. On average, research analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend was Monday, March 3rd. Corteva’s payout ratio is currently 52.71%.

Wall Street Analyst Weigh In

CTVA has been the topic of a number of research reports. The Goldman Sachs Group initiated coverage on Corteva in a research note on Thursday, March 13th. They set a “buy” rating and a $71.00 price target on the stock. KeyCorp increased their price target on shares of Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Wells Fargo & Company lifted their price objective on shares of Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. Citigroup increased their target price on shares of Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Finally, Barclays boosted their price target on Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $68.00.

Corteva 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.