Quarry LP Acquires Shares of 3,225 Corteva, Inc. (NYSE:CTVA)

Quarry LP acquired a new stake in Corteva, Inc. (NYSE:CTVA) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 3,225 shares of the company’s stock, valued at approximately $184,000.

Other institutional investors have also recently bought and sold shares of the company. Capital World Investors raised its position in shares of Corteva by 2,874.6% during the fourth quarter. Capital World Investors now owns 12,812,151 shares of the company’s stock worth $729,780,000 after acquiring an additional 12,381,436 shares during the last quarter. Independent Franchise Partners LLP raised its position in shares of Corteva by 51.5% during the fourth quarter. Independent Franchise Partners LLP now owns 16,496,508 shares of the company’s stock worth $939,641,000 after acquiring an additional 5,604,838 shares during the last quarter. Norges Bank bought a new stake in shares of Corteva during the fourth quarter worth $251,892,000. Raymond James Financial Inc. bought a new stake in shares of Corteva during the fourth quarter worth $161,052,000. Finally, Franklin Resources Inc. grew its stake in shares of Corteva by 9.2% during the fourth quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company’s stock worth $919,507,000 after purchasing an additional 1,354,418 shares during the period. Institutional investors own 81.54% of the company’s stock.

Wall Street Analyst Weigh In

CTVA has been the subject of a number of analyst reports. UBS Group decreased their price objective on Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Barclays lifted their price objective on Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. The Goldman Sachs Group initiated coverage on Corteva in a research note on Thursday, March 13th. They set a “buy” rating and a $71.00 price objective for the company. KeyCorp lifted their price objective on Corteva from $70.00 to $71.00 and gave the stock an “overweight” rating in a research note on Monday, April 14th. Finally, Bank of America boosted their target price on Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. One analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $68.13.

Insider Buying and Selling at Corteva

In other news, insider Brian Titus sold 26,560 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $63.74, for a total value of $1,692,934.40. Following the completion of the sale, the insider now owns 11,347 shares of the company’s stock, valued at approximately $723,257.78. The trade was a 70.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.14% of the company’s stock.

Corteva Price Performance

Shares of CTVA opened at $61.66 on Tuesday. Corteva, Inc. has a 1-year low of $50.01 and a 1-year high of $66.24. The company has a market cap of $42.11 billion, a price-to-earnings ratio of 47.80, a PEG ratio of 1.68 and a beta of 0.73. The company’s fifty day simple moving average is $60.67 and its 200 day simple moving average is $60.47. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.02). Corteva had a net margin of 5.36% and a return on equity of 7.19%. On average, research analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

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.