TriaGen Wealth Management LLC Invests $4.28 Million in Corteva, Inc. $CTVA

TriaGen Wealth Management LLC acquired a new position in shares of Corteva, Inc. (NYSE:CTVA) in the 3rd quarter, Holdings Channel reports. The fund acquired 63,340 shares of the company’s stock, valued at approximately $4,284,000. Corteva makes up 1.1% of TriaGen Wealth Management LLC’s investment portfolio, making the stock its 17th biggest position.

Other institutional investors and hedge funds also recently modified their holdings of the company. Peak Financial Advisors LLC purchased a new position in shares of Corteva in the second quarter valued at $505,000. PGGM Investments lifted its position in Corteva by 68.5% during the second quarter. PGGM Investments now owns 1,223,444 shares of the company’s stock valued at $91,183,000 after purchasing an additional 497,200 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Corteva by 28.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,851,993 shares of the company’s stock worth $179,476,000 after buying an additional 634,938 shares in the last quarter. S.E.E.D. Planning Group LLC raised its position in shares of Corteva by 70.3% during the 2nd quarter. S.E.E.D. Planning Group LLC now owns 164,393 shares of the company’s stock valued at $12,252,000 after buying an additional 67,869 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Corteva by 2.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,174,351 shares of the company’s stock worth $262,692,000 after acquiring an additional 84,506 shares in the last quarter. 81.54% of the stock is owned by institutional investors.

Corteva Trading Up 1.1%

Shares of CTVA stock opened at $67.80 on Monday. The firm’s 50 day moving average price is $65.53 and its two-hundred day moving average price is $68.93. The stock has a market cap of $45.81 billion, a price-to-earnings ratio of 28.97, a price-to-earnings-growth ratio of 1.39 and a beta of 0.74. Corteva, Inc. has a fifty-two week low of $53.40 and a fifty-two week high of $77.41. The company has a quick ratio of 1.07, a current ratio of 1.58 and a debt-to-equity ratio of 0.07.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Tuesday, November 4th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.26. Corteva had a net margin of 9.19% and a return on equity of 9.37%. The business had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.47 billion. The business’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.49) earnings per share. On average, analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Monday, December 1st. Corteva’s payout ratio is currently 30.77%.

Wall Street Analyst Weigh In

CTVA has been the topic of a number of recent analyst reports. Royal Bank Of Canada reduced their price objective on shares of Corteva from $86.00 to $80.00 and set an “outperform” rating on the stock in a research report on Friday, October 17th. BNP Paribas Exane increased their price objective on shares of Corteva from $70.00 to $72.00 and gave the company a “neutral” rating in a research note on Monday, November 17th. JPMorgan Chase & Co. raised Corteva from a “neutral” rating to an “overweight” rating and set a $67.00 target price on the stock in a research report on Thursday, October 2nd. Mizuho cut their price target on shares of Corteva from $85.00 to $78.00 and set an “outperform” rating for the company in a report on Wednesday, October 8th. Finally, Wells Fargo & Company dropped their price target on Corteva from $80.00 to $77.00 and set an “overweight” rating for the company in a research report on Tuesday, November 11th. Sixteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $78.21.

About Corteva

Corteva, Inc (NYSE: CTVA) is an independent global agriculture company that was established as a publicly traded firm in mid‑2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva’s operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.

Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.