Rockport Wealth LLC Invests $324,000 in Corteva, Inc. (NYSE:CTVA)

Rockport Wealth LLC bought a new position in shares of Corteva, Inc. (NYSE:CTVA) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 5,614 shares of the company’s stock, valued at approximately $324,000.

A number of other institutional investors also recently modified their holdings of the company. &PARTNERS raised its position in shares of Corteva by 4.3% during the first quarter. &PARTNERS now owns 4,829 shares of the company’s stock worth $278,000 after purchasing an additional 200 shares during the period. Baxter Bros Inc. grew its holdings in Corteva by 1.2% during the fourth quarter. Baxter Bros Inc. now owns 17,576 shares of the company’s stock worth $842,000 after buying an additional 215 shares in the last quarter. Albion Financial Group UT grew its holdings in Corteva by 77.2% during the first quarter. Albion Financial Group UT now owns 505 shares of the company’s stock worth $29,000 after buying an additional 220 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in Corteva by 1.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 17,986 shares of the company’s stock worth $1,037,000 after buying an additional 227 shares in the last quarter. Finally, Moody National Bank Trust Division grew its holdings in Corteva by 1.2% during the first quarter. Moody National Bank Trust Division now owns 19,660 shares of the company’s stock worth $1,134,000 after buying an additional 235 shares in the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Brian Titus sold 12,134 shares of the 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Corteva news, SVP Cornel B. Fuerer sold 39,736 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $57.41, for a total value of $2,281,243.76. Following the sale, the senior vice president now owns 126,628 shares of the company’s stock, valued at approximately $7,269,713.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Brian Titus sold 12,134 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $56.65, for a total value of $687,391.10. Following the completion of the sale, the insider now directly owns 13,495 shares in the company, valued at approximately $764,491.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 83,556 shares of company stock valued at $4,795,016. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Royal Bank of Canada upped their price target on Corteva from $62.00 to $64.00 and gave the stock an “outperform” rating in a report on Monday, May 6th. Mizuho decreased their price target on Corteva from $61.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday, June 18th. Oppenheimer upped their price target on Corteva from $67.00 to $69.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Barclays upped their price target on Corteva from $55.00 to $58.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 10th. Finally, Wells Fargo & Company upped their price objective on Corteva from $66.00 to $67.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. One analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $63.00.

Corteva Stock Performance

Shares of CTVA stock traded down $0.38 on Tuesday, hitting $54.39. 1,625,510 shares of the stock were exchanged, compared to its average volume of 3,448,374. The company has a current ratio of 1.51, a quick ratio of 0.97 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $37.91 billion, a PE ratio of 69.33, a P/E/G ratio of 1.48 and a beta of 0.77. Corteva, Inc. has a one year low of $43.22 and a one year high of $58.76. The firm’s 50 day moving average is $53.84 and its two-hundred day moving average is $53.46.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.10. The business had revenue of $4.49 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.16 EPS. Sell-side analysts expect that Corteva, Inc. will post 2.79 earnings per share for the current fiscal year.

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $0.64 dividend on an annualized basis and a yield of 1.18%. Corteva’s dividend payout ratio (DPR) is 81.01%.

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.