Virtu Financial LLC Acquires Shares of 7,603 Corteva, Inc. (NYSE:CTVA)

Virtu Financial LLC purchased a new position in Corteva, Inc. (NYSE:CTVA) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 7,603 shares of the company’s stock, valued at approximately $364,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Beacon Financial Group boosted its position in Corteva by 41.5% during the 4th quarter. Beacon Financial Group now owns 26,444 shares of the company’s stock valued at $1,267,000 after purchasing an additional 7,762 shares during the period. Scarborough Advisors LLC acquired a new position in shares of Corteva during the fourth quarter worth approximately $29,000. Studio Investment Management LLC grew its holdings in Corteva by 6.0% in the 4th quarter. Studio Investment Management LLC now owns 38,474 shares of the company’s stock worth $1,844,000 after buying an additional 2,182 shares in the last quarter. Glenview Capital Management LLC increased its position in Corteva by 116.6% in the 4th quarter. Glenview Capital Management LLC now owns 4,698,725 shares of the company’s stock valued at $225,163,000 after acquiring an additional 2,529,539 shares during the period. Finally, Goehring & Rozencwajg Associates LLC increased its holdings in shares of Corteva by 3.2% during the fourth quarter. Goehring & Rozencwajg Associates LLC now owns 74,685 shares of the company’s stock valued at $3,579,000 after purchasing an additional 2,330 shares during the period. 81.54% of the stock is owned by institutional investors.

Corteva Stock Down 0.3 %

Shares of Corteva stock opened at $51.89 on Thursday. The business has a 50-day moving average of $54.91 and a two-hundred day moving average of $52.37. Corteva, Inc. has a 1 year low of $43.22 and a 1 year high of $58.81. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.51 and a quick ratio of 0.97. The company has a market capitalization of $36.17 billion, a P/E ratio of 65.68, a price-to-earnings-growth ratio of 1.39 and a beta of 0.78.

Corteva (NYSE:CTVA) last announced its earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10. Corteva had a return on equity of 6.68% and a net margin of 3.32%. The business had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.65 billion. During the same quarter last year, the firm earned $1.16 EPS. Corteva’s revenue for the quarter was down 8.0% compared to the same quarter last year. As a group, equities analysts predict that Corteva, Inc. will post 2.8 EPS for the current year.

Corteva Dividend Announcement

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

Insider Transactions at Corteva

In other Corteva news, insider Brian Titus sold 12,134 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $56.65, for a total value of $687,391.10. Following the transaction, the insider now directly owns 13,495 shares of the company’s stock, valued at approximately $764,491.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Brian Titus sold 12,134 shares of the firm’s 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 transaction, the insider now directly owns 13,495 shares of the company’s stock, valued at $764,491.75. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Samuel R. Eathington sold 31,686 shares of Corteva stock in a transaction that occurred on 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 sale, the insider now owns 53,854 shares of the company’s stock, valued at $3,104,144.56. The disclosure for this sale can be found here. In the last three months, insiders sold 83,556 shares of company stock worth $4,795,016. 0.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CTVA. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $65.00 price objective on shares of Corteva in a report on Wednesday, June 12th. Canaccord Genuity Group raised their price objective on shares of Corteva from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. JPMorgan Chase & Co. restated a “neutral” rating and issued a $57.00 target price (down from $58.00) on shares of Corteva in a report on Friday, April 12th. Barclays lifted their target price on shares of Corteva from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 10th. Finally, Wells Fargo & Company upped their price target on shares of Corteva from $66.00 to $67.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $63.00.

Corteva 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.