Mufg Securities Americas Inc. Takes Position in Corteva, Inc. (NYSE:CTVA)

Mufg Securities Americas Inc. acquired a new stake in shares of Corteva, Inc. (NYSE:CTVA) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 10,147 shares of the company’s stock, valued at approximately $578,000.

Other large investors also recently modified their holdings of the company. Flagship Wealth Advisors LLC purchased a new position in shares of Corteva during the 4th quarter valued at about $25,000. Noble Wealth Management PBC bought a new stake in Corteva in the fourth quarter valued at approximately $26,000. Hager Investment Management Services LLC bought a new stake in Corteva in the fourth quarter valued at approximately $27,000. LGT Financial Advisors LLC bought a new stake in Corteva in the fourth quarter valued at approximately $31,000. Finally, Golden State Wealth Management LLC bought a new stake in Corteva in the fourth quarter valued at approximately $32,000. 81.54% of the stock is owned by hedge funds and other institutional investors.

Corteva Price Performance

Shares of CTVA stock opened at $68.29 on Friday. The stock has a market cap of $46.64 billion, a price-to-earnings ratio of 52.94, a PEG ratio of 1.68 and a beta of 0.72. The business’s fifty day moving average is $61.44 and its 200 day moving average is $60.93. Corteva, Inc. has a twelve month low of $50.01 and a twelve month high of $69.28. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.25. The company had revenue of $4.42 billion for the quarter, compared to analysts’ expectations of $4.56 billion. Corteva had a return on equity of 7.19% and a net margin of 5.36%. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.89 earnings per share. Research analysts expect that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 2nd will be paid a $0.17 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.68 annualized dividend and a yield of 1.00%. Corteva’s payout ratio is 41.46%.

Insider Buying and Selling

In other Corteva news, insider Brian Titus sold 26,560 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $63.74, for a total value of $1,692,934.40. Following the sale, the insider now directly owns 11,347 shares of the company’s stock, valued at approximately $723,257.78. The trade was a 70.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.14% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CTVA. UBS Group boosted their price objective on Corteva from $74.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. Argus upgraded Corteva from a “hold” rating to a “buy” rating and set a $69.00 price objective for the company in a research report on Monday, March 31st. Royal Bank of Canada boosted their price objective on Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Bank of America boosted their price objective on Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Finally, Wells Fargo & Company boosted their target price on Corteva from $73.00 to $79.00 and gave the company an “overweight” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $70.50.

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.