Foresight Global Investors Inc. Has $1.24 Million Position in Corteva, Inc. (NYSE:CTVA)

Foresight Global Investors Inc. boosted its position in shares of Corteva, Inc. (NYSE:CTVA) by 4.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 25,968 shares of the company’s stock after purchasing an additional 1,188 shares during the quarter. Corteva comprises 0.7% of Foresight Global Investors Inc.’s holdings, making the stock its 27th biggest position. Foresight Global Investors Inc.’s holdings in Corteva were worth $1,244,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. National Pension Service grew its stake in Corteva by 3.6% in the fourth quarter. National Pension Service now owns 1,848,642 shares of the company’s stock valued at $88,587,000 after acquiring an additional 65,085 shares during the period. Everpar Advisors LLC bought a new position in Corteva in the fourth quarter valued at approximately $959,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Corteva by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,197,182 shares of the company’s stock valued at $201,129,000 after buying an additional 127,093 shares during the period. Apollon Wealth Management LLC increased its position in shares of Corteva by 7.7% during the fourth quarter. Apollon Wealth Management LLC now owns 5,668 shares of the company’s stock worth $272,000 after acquiring an additional 403 shares in the last quarter. Finally, Lincoln National Corp raised its holdings in shares of Corteva by 6.3% during the fourth quarter. Lincoln National Corp now owns 14,304 shares of the company’s stock worth $685,000 after acquiring an additional 844 shares during the period. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CTVA. Barclays increased their target price on shares of Corteva from $55.00 to $58.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft raised their price objective on Corteva from $62.00 to $65.00 and gave the company a “buy” rating in a report on Monday. TheStreet raised Corteva from a “c+” rating to a “b-” rating in a research report on Tuesday, February 27th. Oppenheimer boosted their price target on Corteva from $67.00 to $69.00 and gave the stock an “outperform” rating in a research report on Friday, May 3rd. Finally, Mizuho increased their price objective on Corteva from $56.00 to $61.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, Corteva currently has a consensus rating of “Moderate Buy” and an average price target of $63.24.

Insiders Place Their Bets

In related news, insider Brian Titus sold 12,134 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $56.65, for a total transaction of $687,391.10. Following the completion of the sale, the insider now owns 13,495 shares of the company’s stock, valued at $764,491.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.14% of the company’s stock.

Corteva Stock Performance

NYSE:CTVA traded up $1.01 during mid-day trading on Thursday, hitting $57.83. 4,006,327 shares of the stock were exchanged, compared to its average volume of 3,579,707. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 1.51. The firm’s 50-day simple moving average is $55.50 and its 200 day simple moving average is $50.78. Corteva, Inc. has a fifty-two week low of $43.22 and a fifty-two week high of $58.81. The stock has a market capitalization of $40.31 billion, a price-to-earnings ratio of 73.20, a price-to-earnings-growth ratio of 1.50 and a beta of 0.78.

Corteva (NYSE:CTVA) last announced its earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10. The company had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.65 billion. Corteva had a net margin of 3.32% and a return on equity of 6.68%. Corteva’s quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.16 earnings per share. As a group, equities analysts anticipate that Corteva, Inc. will post 2.83 EPS for the current fiscal year.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend is Tuesday, June 4th. Corteva’s dividend payout ratio is currently 81.01%.

Corteva Profile

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.