PFG Investments LLC Boosts Stock Position in Corteva, Inc. (NYSE:CTVA)

PFG Investments LLC grew its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 1.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,682 shares of the company’s stock after buying an additional 227 shares during the quarter. PFG Investments LLC’s holdings in Corteva were worth $746,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CTVA. Redmont Wealth Advisors LLC bought a new stake in Corteva in the first quarter valued at about $25,000. Acadian Asset Management LLC acquired a new position in shares of Corteva in the 1st quarter worth approximately $25,000. Albion Financial Group UT increased its holdings in shares of Corteva by 77.2% in the 1st quarter. Albion Financial Group UT now owns 505 shares of the company’s stock valued at $29,000 after acquiring an additional 220 shares during the last quarter. Cultivar Capital Inc. acquired a new stake in shares of Corteva during the 2nd quarter valued at approximately $34,000. Finally, Redwood Wealth Management Group LLC bought a new position in Corteva during the second quarter worth $43,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Price Performance

NYSE CTVA opened at $60.35 on Monday. Corteva, Inc. has a 12 month low of $43.22 and a 12 month high of $61.21. The firm has a market capitalization of $42.06 billion, a PE ratio of 76.39, a P/E/G ratio of 1.66 and a beta of 0.77. The company’s 50 day simple moving average is $57.13 and its 200 day simple moving average is $55.16. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.72 and a quick ratio of 1.17.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.09. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The company had revenue of $6.11 billion for the quarter, compared to the consensus estimate of $6.15 billion. During the same quarter in the previous year, the business earned $1.60 EPS. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. As a group, equities research analysts forecast that Corteva, Inc. will post 2.66 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on CTVA shares. Bank of America upgraded shares of Corteva from a “neutral” rating to a “buy” rating and boosted their target price for the company from $59.00 to $67.00 in a research note on Wednesday, October 16th. KeyCorp lowered their price objective on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Wells Fargo & Company cut their target price on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Morgan Stanley reaffirmed an “overweight” rating and set a $65.00 target price on shares of Corteva in a report on Tuesday, September 24th. Finally, Argus cut Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $62.84.

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.