LRI Investments LLC Purchases 519 Shares of Corteva, Inc. (NYSE:CTVA)

LRI Investments LLC boosted its position in shares of Corteva, Inc. (NYSE:CTVA) by 6.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 9,029 shares of the company’s stock after buying an additional 519 shares during the quarter. LRI Investments LLC’s holdings in Corteva were worth $514,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CTVA. Flagship Wealth Advisors LLC acquired a new position in shares of Corteva in the fourth quarter valued at $25,000. Noble Wealth Management PBC acquired a new position in shares of Corteva in the fourth quarter valued at $26,000. Hager Investment Management Services LLC acquired a new position in shares of Corteva in the fourth quarter valued at $27,000. LGT Financial Advisors LLC acquired a new position in shares of Corteva in the fourth quarter valued at $31,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of Corteva in the fourth quarter valued at $32,000. 81.54% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on CTVA shares. Citigroup upped their price objective on shares of Corteva from $75.00 to $78.00 and gave the company a “buy” rating in a report on Friday. The Goldman Sachs Group began coverage on shares of Corteva in a research note on Thursday, March 13th. They issued a “buy” rating and a $71.00 price target on the stock. Royal Bank of Canada upped their price target on shares of Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Wells Fargo & Company upped their price target 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. Finally, UBS Group upped their price target on shares of Corteva from $74.00 to $76.00 and gave the company a “buy” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $69.64.

Insider Transactions at Corteva

In other news, insider Brian Titus sold 26,560 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $63.74, for a total value of $1,692,934.40. Following the completion of the transaction, the insider now owns 11,347 shares of the company’s stock, valued at approximately $723,257.78. This represents a 70.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.14% of the company’s stock.

Corteva Stock Up 1.3%

CTVA stock opened at $67.70 on Monday. The stock has a market capitalization of $46.24 billion, a P/E ratio of 52.48, a price-to-earnings-growth ratio of 1.68 and a beta of 0.72. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a 12 month low of $50.01 and a 12 month high of $68.68. The firm has a 50-day moving average price of $60.87 and a 200-day moving average price of $60.74.

Corteva (NYSE:CTVA) last posted its earnings results on Wednesday, May 7th. The company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.25. The firm had revenue of $4.42 billion during the quarter, compared to analysts’ expectations of $4.56 billion. Corteva had a net margin of 5.36% and a return on equity of 7.19%. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.89 earnings per share. As a group, equities research analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 2nd will be issued a $0.17 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.00%. Corteva’s dividend payout ratio (DPR) is currently 41.46%.

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.