Gallo Partners LP Acquires Shares of 43,685 Corteva, Inc. (NYSE:CTVA)

Gallo Partners LP bought a new position in Corteva, Inc. (NYSE:CTVA) in the 4th quarter, Holdings Channel.com reports. The firm bought 43,685 shares of the company’s stock, valued at approximately $2,488,000. Corteva comprises 1.8% of Gallo Partners LP’s portfolio, making the stock its 18th largest holding.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Flagship Wealth Advisors LLC acquired a new stake in Corteva in the fourth quarter valued at about $25,000. Noble Wealth Management PBC purchased a new position in shares of Corteva during the 4th quarter worth approximately $26,000. Hager Investment Management Services LLC purchased a new position in shares of Corteva during the 4th quarter worth approximately $27,000. Golden State Wealth Management LLC acquired a new stake in shares of Corteva in the 4th quarter valued at approximately $32,000. Finally, Centricity Wealth Management LLC purchased a new stake in shares of Corteva during the 4th quarter worth $34,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Trading Up 0.4 %

NYSE CTVA opened at $61.81 on Wednesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45. Corteva, Inc. has a one year low of $50.01 and a one year high of $66.24. The company’s 50 day moving average price is $60.63 and its 200 day moving average price is $60.48. The firm has a market capitalization of $42.22 billion, a price-to-earnings ratio of 47.92, a PEG ratio of 1.68 and a beta of 0.73.

Corteva (NYSE:CTVA) last posted its earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.02). Corteva had a net margin of 5.36% and a return on equity of 7.19%. On average, sell-side analysts predict that Corteva, Inc. will post 2.96 EPS for the current year.

Insider Transactions at Corteva

In other Corteva news, insider Brian Titus sold 26,560 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $63.74, for a total value of $1,692,934.40. Following the completion of the transaction, the insider now directly owns 11,347 shares of the company’s stock, valued at $723,257.78. This represents a 70.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. BNP Paribas upgraded Corteva to a “hold” rating in a research report on Monday, February 10th. Wells Fargo & Company raised their price objective on shares of Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 28th. KeyCorp upped their target price on Corteva from $70.00 to $71.00 and gave the company an “overweight” rating in a research note on Monday, April 14th. Oppenheimer raised their price target on Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Finally, UBS Group reduced their price objective on Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $68.13.

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.