Princeton Global Asset Management LLC Acquires 200 Shares of Corteva, Inc. $CTVA

Princeton Global Asset Management LLC boosted its position in Corteva, Inc. (NYSE:CTVA) by 61.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 525 shares of the company’s stock after buying an additional 200 shares during the quarter. Princeton Global Asset Management LLC’s holdings in Corteva were worth $39,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of CTVA. Nuveen LLC purchased a new stake in Corteva in the first quarter worth $640,333,000. WCM Investment Management LLC increased its position in Corteva by 29.6% in the second quarter. WCM Investment Management LLC now owns 9,044,706 shares of the company’s stock worth $672,836,000 after buying an additional 2,066,519 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Corteva by 4,769.2% in the second quarter. Assenagon Asset Management S.A. now owns 1,924,419 shares of the company’s stock worth $143,427,000 after buying an additional 1,884,897 shares during the last quarter. JPMorgan Chase & Co. increased its position in Corteva by 54.6% in the first quarter. JPMorgan Chase & Co. now owns 5,009,038 shares of the company’s stock worth $315,219,000 after buying an additional 1,769,355 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in Corteva by 65.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,251,449 shares of the company’s stock worth $204,615,000 after buying an additional 1,290,009 shares during the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Robert D. King sold 37,280 shares of the business’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the completion of the transaction, the executive vice president directly owned 49,262 shares in the company, valued at $3,655,240.40. The trade was a 43.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.15% of the stock is currently owned by insiders.

Corteva Price Performance

Corteva stock opened at $61.93 on Wednesday. Corteva, Inc. has a 52 week low of $53.40 and a 52 week high of $77.41. The business has a 50-day simple moving average of $69.04 and a 200 day simple moving average of $68.97. The company has a quick ratio of 1.23, a current ratio of 1.68 and a debt-to-equity ratio of 0.06. The stock has a market cap of $42.05 billion, a price-to-earnings ratio of 30.21, a PEG ratio of 1.42 and a beta of 0.76.

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

Corteva Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were given a dividend of $0.18 per share. The ex-dividend date was Tuesday, September 2nd. This is a positive change from Corteva’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 1.2%. Corteva’s dividend payout ratio (DPR) is presently 35.12%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CTVA. Jefferies Financial Group decreased their target price on Corteva from $92.00 to $85.00 in a research report on Thursday, October 2nd. Wells Fargo & Company reduced their price target on Corteva from $83.00 to $80.00 and set an “overweight” rating for the company in a research report on Thursday, October 16th. Royal Bank Of Canada reduced their price target on Corteva from $86.00 to $80.00 and set an “outperform” rating for the company in a research report on Friday, October 17th. Weiss Ratings cut Corteva from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, October 8th. Finally, KeyCorp reiterated a “sector weight” rating on shares of Corteva in a research report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued 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 $80.31.

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.