Hall Laurie J Trustee Has $30,000 Holdings in Corteva, Inc. (NYSE:CTVA)

Posted by Jeff Wilder on Mar 19th, 2023

Hall Laurie J Trustee cut its stake in shares of Corteva, Inc. (NYSE:CTVA – Get Rating) by 35.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 516 shares of the company’s stock after selling 283 shares during the period. Hall Laurie J Trustee’s holdings in Corteva were worth $30,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CTVA. SVB Wealth LLC lifted its holdings in Corteva by 17.1% during the third quarter. SVB Wealth LLC now owns 29,682 shares of the company’s stock worth $1,697,000 after acquiring an additional 4,339 shares in the last quarter. AlphaCrest Capital Management LLC lifted its holdings in Corteva by 303.8% during the third quarter. AlphaCrest Capital Management LLC now owns 42,608 shares of the company’s stock worth $2,435,000 after acquiring an additional 32,055 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Corteva by 107.6% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 104,459 shares of the company’s stock worth $5,970,000 after acquiring an additional 54,141 shares in the last quarter. Lincoln National Corp lifted its holdings in Corteva by 8.3% during the third quarter. Lincoln National Corp now owns 10,612 shares of the company’s stock worth $607,000 after acquiring an additional 815 shares in the last quarter. Finally, Coston McIsaac & Partners bought a new position in Corteva during the second quarter worth about $33,000. 79.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CTVA has been the topic of a number of research reports. OTR Global lowered Corteva to a “positive” rating in a report on Wednesday, March 8th. Citigroup boosted their price target on Corteva from $72.00 to $74.00 and gave the company a “buy” rating in a report on Friday, February 3rd. Morgan Stanley boosted their price target on Corteva from $70.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, January 11th. Bank of America upgraded Corteva from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $64.00 to $68.00 in a report on Wednesday, January 11th. Finally, Mizuho boosted their price target on Corteva from $76.00 to $78.00 and gave the company a “buy” rating in a report on Thursday, January 12th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $72.53.

Insider Activity

In related news, CEO Charles V. Magro purchased 40,000 shares of Corteva stock in a transaction that occurred on Monday, February 6th. The shares were acquired at an average price of $60.64 per share, with a total value of $2,425,600.00. Following the completion of the transaction, the chief executive officer now directly owns 126,095 shares of the company’s stock, valued at approximately $7,646,400.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.08% of the stock is owned by company insiders.

Corteva Price Performance

Shares of NYSE CTVA opened at $56.61 on Friday. The business’s 50 day moving average price is $61.79 and its two-hundred day moving average price is $62.17. The company has a market cap of $40.34 billion, a PE ratio of 36.06, a price-to-earnings-growth ratio of 1.38 and a beta of 0.80. The company has a quick ratio of 0.93, a current ratio of 1.56 and a debt-to-equity ratio of 0.05. Corteva, Inc. has a twelve month low of $50.03 and a twelve month high of $68.43.

Corteva (NYSE:CTVA – Get Rating) last posted its earnings results on Thursday, February 2nd. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.06 by $0.10. Corteva had a return on equity of 7.54% and a net margin of 6.57%. The company had revenue of $3.83 billion for the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter in the prior year, the business earned $0.08 earnings per share. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. On average, analysts predict that Corteva, Inc. will post 2.89 EPS for the current year.

Corteva Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 1st were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.06%. The ex-dividend date was Tuesday, February 28th. Corteva’s payout ratio is 38.22%.

About Corteva

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Corteva, Inc engages in the provision of seed and crop protection solutions, which focus on the agriculture industry and contributing to food supply. It operates through the Seed and Crop Protection segments. The Seed segment is involved in developing and supplying advanced germplasm and traits that produce yield for farms.