Corteva, Inc. (NYSE:CTVA) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio decreased its position in shares of Corteva, Inc. (NYSE:CTVA) by 9.6% in the first quarter, HoldingsChannel reports. The firm owned 270,165 shares of the company’s stock after selling 28,774 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Corteva were worth $15,580,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Mediolanum International Funds Ltd purchased a new stake in shares of Corteva in the first quarter worth about $2,270,000. WCM Investment Management LLC grew its stake in shares of Corteva by 3.1% during the 4th quarter. WCM Investment Management LLC now owns 7,103,146 shares of the company’s stock worth $341,590,000 after purchasing an additional 213,949 shares during the period. Red Mountain Financial LLC purchased a new position in shares of Corteva during the 4th quarter valued at approximately $862,000. Parsons Capital Management Inc. RI acquired a new position in shares of Corteva in the 1st quarter valued at $230,000. Finally, California State Teachers Retirement System boosted its stake in shares of Corteva by 15.1% during the 4th quarter. California State Teachers Retirement System now owns 1,383,280 shares of the company’s stock worth $66,287,000 after acquiring an additional 181,883 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Insider Activity

In other news, SVP Cornel B. Fuerer sold 39,736 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $57.41, for a total transaction of $2,281,243.76. Following the sale, the senior vice president now owns 126,628 shares of the company’s stock, valued at $7,269,713.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Brian Titus sold 12,134 shares of the firm’s 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 sale, the insider now owns 13,495 shares of the company’s stock, valued at approximately $764,491.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Cornel B. Fuerer sold 39,736 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $57.41, for a total value of $2,281,243.76. Following the completion of the transaction, the senior vice president now directly owns 126,628 shares of the company’s stock, valued at $7,269,713.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 83,556 shares of company stock valued at $4,795,016. 0.14% of the stock is currently owned by company insiders.

Corteva Trading Up 0.4 %

Shares of Corteva stock traded up $0.24 on Tuesday, reaching $55.70. The company had a trading volume of 64,624 shares, compared to its average volume of 3,391,817. The firm’s 50 day moving average price is $53.65 and its two-hundred day moving average price is $53.75. 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, Inc. has a 52-week low of $43.22 and a 52-week high of $58.76. The firm has a market cap of $38.82 billion, a PE ratio of 70.20, a PEG ratio of 1.50 and a beta of 0.77.

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. The company had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.65 billion. Corteva had a return on equity of 6.68% and a net margin of 3.32%. The firm’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.16 earnings per share. Sell-side analysts predict that Corteva, Inc. will post 2.78 earnings per share for the current fiscal year.

Corteva Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Tuesday, September 3rd. This is a boost from Corteva’s previous quarterly dividend of $0.16. Corteva’s dividend payout ratio is currently 81.01%.

Analyst Ratings Changes

Several analysts have commented on the company. Oppenheimer raised their price objective on Corteva from $67.00 to $69.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Wells Fargo & Company boosted their price target on shares of Corteva from $66.00 to $67.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Canaccord Genuity Group lifted their target price 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. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $65.00 price target on shares of Corteva in a research report on Wednesday, June 12th. Finally, BMO Capital Markets increased their target price on Corteva from $64.00 to $67.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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.