Machina Capital S.A.S. Takes Position in Corteva, Inc. $CTVA

Machina Capital S.A.S. bought a new stake in Corteva, Inc. (NYSE:CTVA) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 16,164 shares of the company’s stock, valued at approximately $1,205,000.

Other institutional investors have also recently bought and sold shares of the company. Nuveen LLC acquired a new position in shares of Corteva in the 1st quarter valued at $640,333,000. WCM Investment Management LLC raised its position in Corteva by 29.6% in the second quarter. WCM Investment Management LLC now owns 9,044,706 shares of the company’s stock worth $672,836,000 after purchasing an additional 2,066,519 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Corteva by 4,769.2% in the second quarter. Assenagon Asset Management S.A. now owns 1,924,419 shares of the company’s stock worth $143,427,000 after purchasing an additional 1,884,897 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Corteva by 54.6% during the first quarter. JPMorgan Chase & Co. now owns 5,009,038 shares of the company’s stock worth $315,219,000 after purchasing an additional 1,769,355 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Corteva by 65.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,251,449 shares of the company’s stock valued at $204,615,000 after purchasing an additional 1,290,009 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Stock Up 0.8%

Shares of NYSE CTVA opened at $61.93 on Tuesday. Corteva, Inc. has a 12-month low of $53.40 and a 12-month high of $77.41. The firm’s 50-day simple moving average is $67.29 and its 200 day simple moving average is $69.42. The company has a quick ratio of 1.23, a current ratio of 1.68 and a debt-to-equity ratio of 0.06. The company has a market cap of $42.06 billion, a price-to-earnings ratio of 30.21, a price-to-earnings-growth ratio of 1.40 and a beta of 0.81.

Corteva (NYSE:CTVA) last announced its earnings results on Wednesday, August 6th. The company reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.31. Corteva had a net margin of 8.16% and a return on equity of 8.68%. The company had revenue of $6.46 billion during the quarter, compared to the consensus estimate of $6.26 billion. During the same period in the previous year, the firm posted $1.83 earnings per share. The company’s revenue was up 5.6% on a year-over-year basis. On average, research analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Monday, December 1st. Corteva’s dividend payout ratio (DPR) is presently 35.12%.

Analyst Upgrades and Downgrades

CTVA has been the subject of several analyst reports. Wells Fargo & Company cut their target price on Corteva from $83.00 to $80.00 and set an “overweight” rating for the company in a research report on Thursday, October 16th. BMO Capital Markets set a $86.00 price objective on Corteva in a report on Monday, September 15th. Morgan Stanley set a $84.00 target price on shares of Corteva in a research note on Monday, September 15th. Jefferies Financial Group dropped their target price on shares of Corteva from $92.00 to $85.00 in a research report on Thursday, October 2nd. Finally, The Goldman Sachs Group reduced their price target on shares of Corteva from $85.00 to $77.00 and set a “buy” rating on the stock in a research report on Wednesday, October 22nd. Fifteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $79.65.

Insider Activity at Corteva

In other news, EVP Robert D. King sold 37,280 shares of the business’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the completion of the sale, the executive vice president owned 49,262 shares in the company, valued at $3,655,240.40. The trade was a 43.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.15% of the company’s stock.

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.