SeaCrest Wealth Management LLC Has $349,000 Stock Position in Corteva, Inc. (NYSE:CTVA)

SeaCrest Wealth Management LLC lowered its holdings in Corteva, Inc. (NYSE:CTVA) by 6.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,051 shares of the company’s stock after selling 447 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Corteva were worth $349,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Capital International Investors lifted its position in shares of Corteva by 47.2% in the 4th 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 period. Norges Bank bought a new stake in shares of Corteva in the 4th quarter worth approximately $265,298,000. Harris Associates L P lifted its position in shares of Corteva by 87.1% in the 4th quarter. Harris Associates L P now owns 9,011,702 shares of the company’s stock worth $431,841,000 after acquiring an additional 4,194,981 shares during the period. Glenview Capital Management LLC lifted its position in shares of Corteva by 116.6% in the 4th quarter. Glenview Capital Management LLC now owns 4,698,725 shares of the company’s stock worth $225,163,000 after acquiring an additional 2,529,539 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Corteva by 19.3% in the 4th 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 period. Institutional investors and hedge funds own 81.54% of the company’s stock.

Wall Street Analyst Weigh In

CTVA has been the subject of a number of research reports. Barclays raised their price objective on Corteva from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 10th. BMO Capital Markets raised their target price on Corteva from $64.00 to $67.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. OTR Global restated a “negative” rating on shares of Corteva in a research report on Friday, June 7th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $65.00 target price on shares of Corteva in a research report on Wednesday, June 12th. Finally, Royal Bank of Canada raised their target price on Corteva from $62.00 to $64.00 and gave the stock an “outperform” rating in a research report on Monday, May 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $63.00.

Insider Buying and Selling

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

Corteva Stock Down 0.5 %

NYSE CTVA opened at $52.48 on Thursday. The stock has a fifty day moving average of $54.68 and a 200-day moving average of $52.92. The stock has a market capitalization of $36.58 billion, a P/E ratio of 66.43, a price-to-earnings-growth ratio of 1.44 and a beta of 0.77. Corteva, Inc. has a 52 week low of $43.22 and a 52 week high of $58.76. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 1.51.

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

Corteva Dividend Announcement

The business also recently disclosed 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. The ex-dividend date was Tuesday, June 4th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.22%. Corteva’s dividend payout ratio (DPR) is presently 81.01%.

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.