Qsemble Capital Management LP Takes Position in Corteva, Inc. (NYSE:CTVA)

Qsemble Capital Management LP acquired a new position in Corteva, Inc. (NYSE:CTVA) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 7,750 shares of the company’s stock, valued at approximately $418,000.

Several other institutional investors also recently bought and sold shares of CTVA. Redmont Wealth Advisors LLC bought a new position in shares of Corteva during the 1st quarter worth $25,000. Acadian Asset Management LLC bought a new position in Corteva during the 1st quarter worth about $25,000. Rise Advisors LLC grew its holdings in Corteva by 2,522.2% during the 1st quarter. Rise Advisors LLC now owns 472 shares of the company’s stock worth $27,000 after acquiring an additional 454 shares in the last quarter. Albion Financial Group UT increased its position in Corteva by 77.2% during the 1st quarter. Albion Financial Group UT now owns 505 shares of the company’s stock valued at $29,000 after purchasing an additional 220 shares during the period. Finally, Ironwood Wealth Management Inc. raised its holdings in shares of Corteva by 106.1% in the 1st quarter. Ironwood Wealth Management Inc. now owns 544 shares of the company’s stock valued at $31,000 after purchasing an additional 280 shares in the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Corteva Price Performance

NYSE CTVA opened at $56.63 on Friday. The company has a market cap of $39.20 billion, a price-to-earnings ratio of 71.68, a PEG ratio of 1.60 and a beta of 0.77. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.72 and a quick ratio of 1.17. The stock’s fifty day moving average price is $54.12 and its 200 day moving average price is $54.64. Corteva, Inc. has a 1 year low of $43.22 and a 1 year high of $58.76.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.09. The firm had revenue of $6.11 billion during the quarter, compared to analysts’ expectations of $6.15 billion. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period last year, the business posted $1.60 earnings per share. As a group, equities research analysts forecast that Corteva, Inc. will post 2.69 earnings per share for the current year.

Corteva Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be issued a $0.17 dividend. This is an increase from Corteva’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend is Tuesday, September 3rd. Corteva’s dividend payout ratio is 86.08%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CTVA shares. Wells Fargo & Company cut their price objective on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Mizuho decreased their price objective on Corteva from $61.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, June 18th. JPMorgan Chase & Co. dropped their price objective on Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. KeyCorp reduced their target price on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Finally, Argus cut shares of Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Corteva currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.67.

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.