TrinityPoint Wealth LLC Invests $793,000 in Corteva, Inc. (NYSE:CTVA)

TrinityPoint Wealth LLC acquired a new position in shares of Corteva, Inc. (NYSE:CTVA) in the fourth quarter, HoldingsChannel reports. The fund acquired 13,914 shares of the company’s stock, valued at approximately $793,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. State of Wyoming lifted its position in shares of Corteva by 115.3% during the fourth quarter. State of Wyoming now owns 9,017 shares of the company’s stock worth $514,000 after purchasing an additional 4,828 shares during the last quarter. Scissortail Wealth Management LLC lifted its position in shares of Corteva by 72,080.0% during the fourth quarter. Scissortail Wealth Management LLC now owns 3,609 shares of the company’s stock worth $206,000 after purchasing an additional 3,604 shares during the last quarter. Siemens Fonds Invest GmbH lifted its position in shares of Corteva by 436.4% during the fourth quarter. Siemens Fonds Invest GmbH now owns 23,780 shares of the company’s stock worth $1,355,000 after purchasing an additional 19,347 shares during the last quarter. Sherbrooke Park Advisers LLC bought a new position in shares of Corteva during the fourth quarter worth about $620,000. Finally, Silvercrest Asset Management Group LLC lifted its position in shares of Corteva by 6.4% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 4,382 shares of the company’s stock worth $250,000 after purchasing an additional 262 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Corteva

In related news, insider Brian Titus sold 26,560 shares of Corteva stock in a transaction on 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 transaction, the insider now owns 11,347 shares in the company, valued at $723,257.78. This trade represents a 70.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.14% of the stock is owned by company insiders.

Corteva Trading Up 0.4%

Shares of NYSE:CTVA opened at $68.58 on Friday. The firm has a fifty day moving average of $61.61 and a two-hundred day moving average of $60.98. The firm has a market capitalization of $46.78 billion, a P/E ratio of 53.16, a price-to-earnings-growth ratio of 1.68 and a beta of 0.72. Corteva, Inc. has a 12-month low of $50.01 and a 12-month high of $69.28. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.25. Corteva had a net margin of 5.36% and a return on equity of 7.19%. The business had revenue of $4.42 billion during the quarter, compared to analyst estimates of $4.56 billion. During the same quarter in the previous year, the business earned $0.89 EPS. Corteva’s quarterly revenue was down 1.7% compared to the same quarter last year. On average, equities analysts expect that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 2nd will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Monday, June 2nd. Corteva’s payout ratio is presently 41.46%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. BNP Paribas raised shares of Corteva to a “hold” rating in a report on Monday, February 10th. Citigroup raised their target price on shares of Corteva from $75.00 to $78.00 and gave the stock a “buy” rating in a report on Friday, May 9th. Barclays raised their target price on shares of Corteva from $64.00 to $70.00 and gave the stock an “equal weight” rating in a report on Wednesday. Morgan Stanley raised their target price on shares of Corteva from $65.00 to $71.00 and gave the stock an “overweight” rating in a report on Friday, May 9th. Finally, Oppenheimer reissued an “outperform” rating and issued a $75.00 target price (up previously from $72.00) on shares of Corteva in a report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.50.

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.