TCW Group Inc. Increases Position in Corteva, Inc. (NYSE:CTVA)

TCW Group Inc. raised its position in shares of Corteva, Inc. (NYSE:CTVA) by 14.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,955 shares of the company’s stock after buying an additional 6,315 shares during the period. TCW Group Inc.’s holdings in Corteva were worth $2,396,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Private Advisor Group LLC increased its stake in Corteva by 3.3% during the third quarter. Private Advisor Group LLC now owns 84,603 shares of the company’s stock worth $4,328,000 after purchasing an additional 2,692 shares during the period. Larson Financial Group LLC boosted its holdings in Corteva by 302.1% in the third quarter. Larson Financial Group LLC now owns 1,701 shares of the company’s stock valued at $87,000 after purchasing an additional 1,278 shares during the period. Nomura Asset Management Co. Ltd. grew its stake in Corteva by 18.4% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 333,884 shares of the company’s stock worth $17,082,000 after purchasing an additional 51,818 shares in the last quarter. Syon Capital LLC acquired a new position in Corteva during the 3rd quarter worth $280,000. Finally, NBC Securities Inc. acquired a new stake in Corteva in the 3rd quarter valued at about $122,000. 81.54% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Corteva

In other news, insider Brian Titus sold 12,134 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $56.65, for a total transaction of $687,391.10. Following the completion of the transaction, the insider now directly owns 13,495 shares of the company’s stock, valued at approximately $764,491.75. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Brian Titus sold 12,134 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $56.65, for a total transaction of $687,391.10. Following the transaction, the insider now directly owns 13,495 shares of the company’s stock, valued at approximately $764,491.75. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Samuel R. Eathington sold 31,686 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $57.64, for a total transaction of $1,826,381.04. Following the completion of the sale, the insider now owns 53,854 shares of the company’s stock, valued at approximately $3,104,144.56. The disclosure for this sale can be found here. Insiders have sold a total of 83,556 shares of company stock worth $4,795,016 over the last ninety days. 0.14% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on CTVA. TheStreet upgraded shares of Corteva from a “c+” rating to a “b-” rating in a research note on Tuesday, February 27th. KeyCorp raised their price objective on shares of Corteva from $63.00 to $66.00 and gave the company an “overweight” rating in a report on Tuesday, April 9th. Wells Fargo & Company boosted their target price on shares of Corteva from $66.00 to $67.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. Barclays raised their price target on Corteva from $55.00 to $58.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 10th. Finally, Canaccord Genuity Group upped their price objective on Corteva from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $63.05.

Corteva Stock Performance

CTVA stock traded down $0.06 during trading on Friday, hitting $55.51. The company had a trading volume of 2,282,195 shares, compared to its average volume of 3,826,851. The firm has a 50-day moving average price of $56.05 and a 200-day moving average price of $51.43. The company has a quick ratio of 0.97, a current ratio of 1.51 and a debt-to-equity ratio of 0.10. The firm has a market cap of $38.69 billion, a PE ratio of 70.27, a price-to-earnings-growth ratio of 1.47 and a beta of 0.78. Corteva, Inc. has a 1-year low of $43.22 and a 1-year high of $58.81.

Corteva (NYSE:CTVA) last released its earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10. Corteva had a return on equity of 6.68% and a net margin of 3.32%. The business had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.65 billion. During the same quarter in the previous year, the company posted $1.16 earnings per share. The company’s revenue for the quarter was down 8.0% compared to the same quarter last year. On average, analysts expect that Corteva, Inc. will post 2.82 earnings per share for the current year.

Corteva Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Tuesday, June 4th. Corteva’s dividend payout ratio (DPR) is presently 81.01%.

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.