Quadrature Capital Ltd Increases Position in Corteva, Inc. $CTVA

Quadrature Capital Ltd raised its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 235.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 37,510 shares of the company’s stock after purchasing an additional 26,339 shares during the period. Quadrature Capital Ltd’s holdings in Corteva were worth $2,795,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Gladwyn Financial Advisors Inc. purchased a new stake in shares of Corteva in the 2nd quarter worth approximately $25,000. Curat Global LLC raised its stake in Corteva by 93.7% during the second quarter. Curat Global LLC now owns 370 shares of the company’s stock valued at $28,000 after buying an additional 179 shares during the last quarter. Maryland Capital Advisors Inc. bought a new stake in Corteva in the second quarter worth $29,000. DHJJ Financial Advisors Ltd. grew its stake in shares of Corteva by 132.2% in the second quarter. DHJJ Financial Advisors Ltd. now owns 527 shares of the company’s stock worth $39,000 after acquiring an additional 300 shares during the last quarter. Finally, Princeton Global Asset Management LLC increased its holdings in shares of Corteva by 61.5% during the second quarter. Princeton Global Asset Management LLC now owns 525 shares of the company’s stock valued at $39,000 after acquiring an additional 200 shares in the last quarter. 81.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CTVA. Barclays upgraded shares of Corteva from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $75.00 to $84.00 in a research note on Wednesday, August 13th. Citigroup lifted their target price on shares of Corteva from $67.00 to $68.00 and gave the stock a “neutral” rating in a report on Thursday, November 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Corteva in a research note on Tuesday. Mizuho reduced their price target on shares of Corteva from $85.00 to $78.00 and set an “outperform” rating for the company in a research report on Wednesday, October 8th. Finally, BMO Capital Markets set a $86.00 price objective on shares of Corteva in a report on Monday, September 15th. Fifteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, Corteva currently has an average rating of “Moderate Buy” and an average price target of $78.05.

Corteva Stock Up 1.2%

CTVA opened at $67.47 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.58 and a debt-to-equity ratio of 0.07. The firm has a 50 day moving average price of $64.47 and a 200-day moving average price of $69.68. Corteva, Inc. has a twelve month low of $53.40 and a twelve month high of $77.41. The stock has a market capitalization of $45.59 billion, a price-to-earnings ratio of 28.83, a PEG ratio of 1.53 and a beta of 0.81.

Corteva (NYSE:CTVA) last issued its earnings results on Tuesday, November 4th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.26. The company had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.47 billion. Corteva had a net margin of 9.19% and a return on equity of 9.37%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the company posted ($0.49) earnings per share. Equities research analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Monday, December 1st. Corteva’s dividend payout ratio is 30.77%.

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.