Corteva, Inc. (NYSE:CTVA) Shares Acquired by Moody National Bank Trust Division

Moody National Bank Trust Division grew its stake in Corteva, Inc. (NYSE:CTVA) by 1.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,660 shares of the company’s stock after purchasing an additional 235 shares during the quarter. Moody National Bank Trust Division’s holdings in Corteva were worth $1,134,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its position in Corteva by 2.4% during the third quarter. Vanguard Group Inc. now owns 81,346,924 shares of the company’s stock worth $4,161,709,000 after acquiring an additional 1,941,323 shares during the last quarter. Capital International Investors boosted its position in Corteva by 47.2% during the fourth quarter. Capital International Investors now owns 25,758,735 shares of the company’s stock worth $1,234,359,000 after acquiring an additional 8,260,808 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Corteva by 19.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 13,236,504 shares of the company’s stock worth $634,293,000 after acquiring an additional 2,141,428 shares during the last quarter. Northern Trust Corp raised its stake in Corteva by 2.5% during the fourth quarter. Northern Trust Corp now owns 12,815,795 shares of the company’s stock worth $614,133,000 after purchasing an additional 310,012 shares during the period. Finally, Harris Associates L P raised its stake in Corteva by 87.1% during the fourth quarter. Harris Associates L P now owns 9,011,702 shares of the company’s stock worth $431,841,000 after purchasing an additional 4,194,981 shares during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Trading Down 0.3 %

Shares of Corteva stock opened at $51.89 on Thursday. The company has a fifty day simple moving average of $54.91 and a 200-day simple moving average of $52.37. Corteva, Inc. has a 12-month low of $43.22 and a 12-month high of $58.81. 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 stock has a market cap of $36.17 billion, a price-to-earnings ratio of 65.68, a PEG ratio of 1.39 and a beta of 0.78.

Corteva (NYSE:CTVA) last issued its earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.10. Corteva had a net margin of 3.32% and a return on equity of 6.68%. The business had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter in the prior year, the business posted $1.16 EPS. The company’s revenue for the quarter was down 8.0% on a year-over-year basis. On average, equities analysts forecast that Corteva, Inc. will post 2.8 EPS for the current fiscal year.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date was Tuesday, June 4th. Corteva’s dividend payout ratio is currently 81.01%.

Wall Street Analyst Weigh In

CTVA has been the topic of a number of analyst reports. Oppenheimer lifted their target price on shares of Corteva from $67.00 to $69.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. KeyCorp lifted their target price on shares of Corteva from $63.00 to $66.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 9th. Canaccord Genuity Group lifted their target price on shares of Corteva from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Royal Bank of Canada lifted their target price on shares of Corteva from $62.00 to $64.00 and gave the stock an “outperform” rating in a research note on Monday, May 6th. Finally, Barclays boosted their price target on shares of Corteva from $55.00 to $58.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $63.00.

Insider Buying and Selling

In related news, insider Brian Titus sold 12,134 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $56.65, for a total transaction of $687,391.10. Following the completion of the sale, the insider now 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 can be accessed through the SEC website. In other Corteva news, SVP Cornel B. Fuerer sold 39,736 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $57.41, for a total transaction of $2,281,243.76. Following the completion of the transaction, the senior vice president now owns 126,628 shares in the company, valued at approximately $7,269,713.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Brian Titus sold 12,134 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $56.65, for a total transaction of $687,391.10. Following the transaction, the insider now owns 13,495 shares of the company’s stock, valued at approximately $764,491.75. The disclosure for this sale can be found here. Insiders sold a total of 83,556 shares of company stock worth $4,795,016 in the last 90 days. Company insiders own 0.20% of the company’s stock.

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.