Quantessence Capital LLC Invests $315,000 in Corteva, Inc. (NYSE:CTVA)

Quantessence Capital LLC purchased a new stake in Corteva, Inc. (NYSE:CTVA - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 5,529 shares of the company's stock, valued at approximately $315,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CTVA. World Investment Advisors LLC acquired a new stake in Corteva in the 3rd quarter valued at $319,000. Wilmington Savings Fund Society FSB lifted its position in Corteva by 247.9% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 44,080 shares of the company's stock worth $2,591,000 after acquiring an additional 31,411 shares in the last quarter. Franklin Resources Inc. lifted its position in Corteva by 6.1% during the 3rd quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company's stock worth $860,746,000 after acquiring an additional 856,007 shares in the last quarter. 1ST Source Bank boosted its holdings in Corteva by 1.9% in the 3rd quarter. 1ST Source Bank now owns 19,195 shares of the company's stock worth $1,128,000 after acquiring an additional 367 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of Corteva by 6.7% during the third quarter. JPMorgan Chase & Co. now owns 4,605,608 shares of the company's stock valued at $270,764,000 after purchasing an additional 288,885 shares during the period. 81.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. BNP Paribas raised shares of Corteva to a "hold" rating in a research note on Monday, February 10th. Argus upgraded Corteva from a "hold" rating to a "buy" rating and set a $69.00 price target on the stock in a research note on Monday, March 31st. UBS Group lowered their price objective on Corteva from $74.00 to $73.00 and set a "buy" rating for the company in a research note on Friday, January 10th. Bank of America increased their target price on Corteva from $69.00 to $73.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. Finally, Royal Bank of Canada lifted their price target on shares of Corteva from $72.00 to $73.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat, Corteva currently has an average rating of "Moderate Buy" and a consensus target price of $68.13.

Corteva Price Performance

Shares of CTVA opened at $60.65 on Wednesday. Corteva, Inc. has a 12 month low of $50.01 and a 12 month high of $66.24. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. The stock has a fifty day moving average price of $60.87 and a 200 day moving average price of $60.32. The company has a market cap of $41.43 billion, a P/E ratio of 47.02, a PEG ratio of 1.68 and a beta of 0.73.

Corteva (NYSE:CTVA - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.02). Corteva had a return on equity of 7.19% and a net margin of 5.36%. On average, research analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a dividend of $0.17 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.12%. Corteva's dividend payout ratio (DPR) is presently 52.71%.

Insider Transactions at Corteva

In other news, insider Brian Titus sold 26,560 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were 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 in the company, valued at $723,257.78. This trade represents a 70.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.14% 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.

Want to see what other hedge funds are holding CTVA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Corteva, Inc. (NYSE:CTVA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.