Catalytic Wealth RIA LLC Purchases New Stake in Corteva, Inc. (NYSE:CTVA)

Catalytic Wealth RIA LLC bought a new stake in shares of Corteva, Inc. (NYSE:CTVA) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 4,214 shares of the company’s stock, valued at approximately $243,000.

Several other institutional investors have also recently added to or reduced their stakes in CTVA. American Century Companies Inc. increased its stake in Corteva by 12.5% during the third quarter. American Century Companies Inc. now owns 96,151 shares of the company’s stock valued at $4,919,000 after purchasing an additional 10,711 shares during the last quarter. Creative Financial Designs Inc. ADV lifted its stake in Corteva by 57.2% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 786 shares of the company’s stock valued at $38,000 after buying an additional 286 shares in the last quarter. BKM Wealth Management LLC purchased a new stake in Corteva during the fourth quarter valued at about $38,000. OneAscent Financial Services LLC purchased a new stake in Corteva during the fourth quarter valued at about $204,000. Finally, SG Americas Securities LLC lifted its stake in Corteva by 206.0% during the fourth quarter. SG Americas Securities LLC now owns 31,875 shares of the company’s stock valued at $1,527,000 after buying an additional 21,457 shares in the last quarter. Institutional investors own 81.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. KeyCorp upped their price objective on shares of Corteva from $63.00 to $66.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. Mizuho dropped their target price on Corteva from $61.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, June 18th. Wells Fargo & Company upped their target price on Corteva from $66.00 to $67.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Oppenheimer upped their target price on Corteva from $67.00 to $69.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Finally, BMO Capital Markets upped their target price on Corteva from $64.00 to $67.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $63.00.

Insiders Place Their Bets

In other Corteva news, insider Samuel R. Eathington sold 31,686 shares of the firm’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $57.64, for a total value of $1,826,381.04. Following the sale, the insider now directly owns 53,854 shares in the company, valued at approximately $3,104,144.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Brian Titus sold 12,134 shares of Corteva stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $56.65, for a total transaction of $687,391.10. Following the sale, the insider now directly owns 13,495 shares in the company, valued at approximately $764,491.75. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Samuel R. Eathington sold 31,686 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $57.64, for a total transaction of $1,826,381.04. Following the completion of the transaction, the insider now owns 53,854 shares in the company, valued at $3,104,144.56. The disclosure for this sale can be found here. Insiders have sold 83,556 shares of company stock worth $4,795,016 in the last ninety days. Insiders own 0.14% of the company’s stock.

Corteva Stock Performance

CTVA traded down $0.01 during trading on Monday, hitting $54.77. The stock had a trading volume of 1,494,687 shares, compared to its average volume of 3,461,488. The firm has a market cap of $38.17 billion, a PE ratio of 69.33, a P/E/G ratio of 1.48 and a beta of 0.77. Corteva, Inc. has a 12 month low of $43.22 and a 12 month high of $58.76. The company has a current ratio of 1.51, a quick ratio of 0.97 and a debt-to-equity ratio of 0.10. The company has a 50 day simple moving average of $53.84 and a 200-day simple moving average of $53.46.

Corteva (NYSE:CTVA) last announced its earnings results on Wednesday, May 1st. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.79 by $0.10. The firm had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.65 billion. Corteva had a net margin of 3.32% and a return on equity of 6.68%. The business’s quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.16 EPS. Analysts expect that Corteva, Inc. will post 2.79 EPS for the current year.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th were given a $0.16 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $0.64 annualized dividend and a yield of 1.17%. Corteva’s dividend payout ratio is 81.01%.

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.