Wealthstar Advisors LLC Makes New $1.66 Million Investment in Corteva, Inc. $CTVA

Wealthstar Advisors LLC acquired a new position in Corteva, Inc. (NYSE:CTVA) during the 2nd quarter, HoldingsChannel reports. The fund acquired 22,333 shares of the company’s stock, valued at approximately $1,664,000.

Several other hedge funds have also bought and sold shares of CTVA. Maryland Capital Advisors Inc. purchased a new stake in Corteva in the 2nd quarter worth approximately $29,000. Valley National Advisers Inc. boosted its position in Corteva by 85.9% in 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 purchased a new stake in Corteva in the 1st quarter worth approximately $37,000. DHJJ Financial Advisors Ltd. boosted its position in Corteva by 132.2% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 527 shares of the company’s stock worth $39,000 after purchasing an additional 300 shares in the last quarter. Finally, von Borstel & Associates Inc. purchased a new position in shares of Corteva during the 1st quarter valued at approximately $44,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Insiders Place Their Bets

In other Corteva news, EVP Robert D. King sold 37,280 shares of the firm’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $74.20, for a total value of $2,766,176.00. Following the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CTVA. Wall Street Zen upgraded Corteva from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Jefferies Financial Group decreased their target price on Corteva from $92.00 to $85.00 in a research report on Thursday, October 2nd. Wells Fargo & Company reiterated an “overweight” rating and set a $83.00 target price (up previously from $82.00) on shares of Corteva in a research report on Friday, August 8th. JPMorgan Chase & Co. upgraded Corteva from a “neutral” rating to an “overweight” rating and set a $67.00 target price on the stock in a research report on Thursday, October 2nd. Finally, Mizuho decreased their target price on Corteva from $85.00 to $78.00 and set an “outperform” rating on the stock in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $80.13.

Corteva Trading Down 0.6%

Shares of CTVA stock opened at $62.76 on Friday. The stock’s fifty day moving average is $70.57 and its two-hundred day moving average is $68.91. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.23 and a current ratio of 1.68. The firm has a market capitalization of $42.62 billion, a P/E ratio of 30.61, a PEG ratio of 1.43 and a beta of 0.76. Corteva, Inc. has a fifty-two week low of $53.40 and a fifty-two week high of $77.41.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.31. The company had revenue of $6.46 billion for the quarter, compared to analyst estimates of $6.26 billion. Corteva had a return on equity of 8.68% and a net margin of 8.16%.The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.83 EPS. Research analysts expect 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. Shareholders of record on Tuesday, September 2nd were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Tuesday, September 2nd. This is an increase from Corteva’s previous quarterly dividend of $0.17. Corteva’s payout ratio is 35.12%.

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.