Virtu Financial LLC Takes $588,000 Position in Corteva, Inc. (NYSE:CTVA)

Virtu Financial LLC bought a new position in shares of Corteva, Inc. (NYSE:CTVA) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,331 shares of the company’s stock, valued at approximately $588,000.

Several other large investors have also modified their holdings of the stock. Chicago Partners Investment Group LLC grew its holdings in shares of Corteva by 1.2% during the fourth quarter. Chicago Partners Investment Group LLC now owns 13,282 shares of the company’s stock valued at $759,000 after buying an additional 156 shares in the last quarter. Avidian Wealth Enterprises LLC raised its holdings in Corteva by 3.6% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 4,521 shares of the company’s stock valued at $258,000 after buying an additional 157 shares in the last quarter. Beacon Capital Management LLC boosted its position in Corteva by 13.4% during the fourth quarter. Beacon Capital Management LLC now owns 1,341 shares of the company’s stock worth $76,000 after purchasing an additional 158 shares during the period. Lake Street Advisors Group LLC boosted its holdings in Corteva by 3.7% during the fourth quarter. Lake Street Advisors Group LLC now owns 4,514 shares of the company’s stock valued at $257,000 after acquiring an additional 160 shares during the period. Finally, Roble Belko & Company Inc grew its stake in shares of Corteva by 5.5% in the fourth quarter. Roble Belko & Company Inc now owns 3,166 shares of the company’s stock worth $180,000 after acquiring an additional 166 shares during the last quarter. 81.54% of the stock is owned by institutional investors.

Insider Transactions at Corteva

In other news, insider Brian Titus sold 26,560 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $63.74, for a total value of $1,692,934.40. Following the completion of the transaction, the insider now directly owns 11,347 shares of the company’s stock, valued at $723,257.78. This represents a 70.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.14% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CTVA shares. Barclays increased their price objective on Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. UBS Group lowered their price target on Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a report on Friday, January 10th. Citigroup lifted their target price on Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Royal Bank of Canada upped their price objective on Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Finally, BNP Paribas raised Corteva to a “hold” rating in a report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $68.00.

Corteva Stock Performance

Shares of Corteva stock opened at $61.91 on Wednesday. The company’s fifty day moving average is $62.50 and its 200 day moving average is $59.99. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. The stock has a market cap of $42.44 billion, a price-to-earnings ratio of 47.99, a P/E/G ratio of 1.68 and a beta of 0.79. Corteva, Inc. has a twelve month low of $50.01 and a twelve month high of $66.24.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). Corteva had a net margin of 5.36% and a return on equity of 7.19%. Sell-side analysts forecast that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.10%. Corteva’s dividend payout ratio (DPR) is presently 52.71%.

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.