GAMMA Investing LLC Purchases 2,160 Shares of Corteva, Inc. $CTVA

GAMMA Investing LLC increased its position in shares of Corteva, Inc. (NYSE:CTVA) by 14.3% during the second quarter, HoldingsChannel.com reports. The firm owned 17,221 shares of the company’s stock after buying an additional 2,160 shares during the period. GAMMA Investing LLC’s holdings in Corteva were worth $1,283,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the company. Maryland Capital Advisors Inc. acquired a new stake in Corteva during the second quarter worth $29,000. U.S. Capital Wealth Advisors LLC bought a new position in shares of Corteva during the 2nd quarter worth about $233,000. Park Avenue Securities LLC boosted its position in shares of Corteva by 41.1% during the 2nd quarter. Park Avenue Securities LLC now owns 27,036 shares of the company’s stock valued at $2,015,000 after acquiring an additional 7,873 shares in the last quarter. Sowell Financial Services LLC increased its stake in Corteva by 12.0% in the second quarter. Sowell Financial Services LLC now owns 7,024 shares of the company’s stock valued at $524,000 after acquiring an additional 754 shares during the period. Finally, Farther Finance Advisors LLC raised its position in Corteva by 20.4% in the second quarter. Farther Finance Advisors LLC now owns 5,282 shares of the company’s stock worth $394,000 after purchasing an additional 895 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. UBS Group lifted their price objective on Corteva from $90.00 to $91.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Wall Street Zen raised Corteva from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. KeyCorp increased their price objective on Corteva from $84.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, August 8th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Corteva from $83.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, September 15th. Finally, Morgan Stanley set a $84.00 target price on shares of Corteva in a research report on Monday, September 15th. Thirteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Corteva presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.00.

Insider Transactions at Corteva

In other Corteva news, EVP Robert D. King sold 37,280 shares of the stock in a transaction on Friday, August 29th. The stock was sold at an average price of $74.20, for a total value of $2,766,176.00. Following the transaction, the executive vice president directly owned 49,262 shares in the company, valued at approximately $3,655,240.40. This trade represents a 43.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.15% of the company’s stock.

Corteva Price Performance

Shares of CTVA stock opened at $69.48 on Wednesday. The stock’s fifty day moving average is $72.40 and its 200-day moving average is $68.59. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.23 and a current ratio of 1.68. The stock has a market capitalization of $47.18 billion, a PE ratio of 33.89, a PEG ratio of 1.60 and a beta of 0.78. Corteva, Inc. has a 52 week low of $53.40 and a 52 week high of $77.41.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.31. The business had revenue of $6.46 billion for the quarter, compared to the consensus estimate of $6.26 billion. Corteva had a net margin of 8.16% and a return on equity of 8.68%. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.83 EPS. Equities research analysts expect that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were given a $0.18 dividend. This is a boost from Corteva’s previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, September 2nd. This represents a $0.72 annualized dividend and a yield of 1.0%. Corteva’s dividend payout ratio is presently 35.12%.

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.