Corteva, Inc. $CTVA Shares Purchased by Union Bancaire Privee UBP SA

Union Bancaire Privee UBP SA grew its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 17.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,606 shares of the company’s stock after purchasing an additional 2,058 shares during the period. Union Bancaire Privee UBP SA’s holdings in Corteva were worth $1,014,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Maryland Capital Advisors Inc. acquired a new position in Corteva during the second quarter worth $29,000. Valley National Advisers Inc. boosted its position in shares of Corteva by 85.9% during the 1st quarter. Valley National Advisers Inc. now owns 526 shares of the company’s stock worth $33,000 after purchasing an additional 243 shares in the last quarter. Richardson Capital Management LLC acquired a new position in shares of Corteva during the 1st quarter worth $37,000. von Borstel & Associates Inc. purchased a new position in shares of Corteva in the 1st quarter valued at about $44,000. Finally, Horizon Financial Services LLC lifted its stake in shares of Corteva by 4,444.4% in the first quarter. Horizon Financial Services LLC now owns 818 shares of the company’s stock valued at $51,000 after purchasing an additional 800 shares during the period. 81.54% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Robert D. King sold 37,280 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the sale, the executive vice president owned 49,262 shares in the company, valued at approximately $3,655,240.40. This trade represents a 43.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

CTVA has been the topic of several recent analyst reports. Royal Bank Of Canada restated an “outperform” rating on shares of Corteva in a research report on Monday, August 11th. Zacks Research raised Corteva to a “hold” rating in a research note on Friday, August 8th. Morgan Stanley set a $84.00 target price on Corteva in a research report on Monday, September 15th. Jefferies Financial Group restated a “buy” rating on shares of Corteva in a research report on Friday, June 6th. Finally, BMO Capital Markets set a $86.00 price target on Corteva in a research note on Monday, September 15th. Thirteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $82.00.

Corteva Stock Performance

NYSE CTVA opened at $67.63 on Wednesday. The company has a quick ratio of 1.23, a current ratio of 1.68 and a debt-to-equity ratio of 0.06. Corteva, Inc. has a fifty-two week low of $53.40 and a fifty-two week high of $77.41. The business has a fifty day moving average of $71.89 and a 200-day moving average of $68.88. The stock has a market cap of $45.93 billion, a price-to-earnings ratio of 32.99, a price-to-earnings-growth ratio of 1.55 and a beta of 0.78.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.31. Corteva had a return on equity of 8.68% and a net margin of 8.16%.The firm had revenue of $6.46 billion during the quarter, compared to analysts’ expectations of $6.26 billion. During the same quarter last year, the business posted $1.83 EPS. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. As a group, analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were given a $0.18 dividend. This is a boost from Corteva’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Tuesday, September 2nd. Corteva’s dividend payout ratio (DPR) is presently 35.12%.

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.