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

TriaGen Wealth Management LLC bought a new stake in Corteva, Inc. (NYSE:CTVA) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 63,340 shares of the company’s stock, valued at approximately $4,284,000. Corteva accounts for approximately 1.1% of TriaGen Wealth Management LLC’s investment portfolio, making the stock its 17th largest holding.

A number of other large investors also recently bought and sold shares of the company. Brighton Jones LLC grew its holdings in Corteva by 307.2% in the fourth quarter. Brighton Jones LLC now owns 15,588 shares of the company’s stock valued at $888,000 after purchasing an additional 11,760 shares during the last quarter. Focus Partners Advisor Solutions LLC lifted its holdings in shares of Corteva by 42.2% during the 1st quarter. Focus Partners Advisor Solutions LLC now owns 5,009 shares of the company’s stock valued at $315,000 after acquiring an additional 1,486 shares in the last quarter. AQR Capital Management LLC boosted its position in Corteva by 38.7% in the 1st quarter. AQR Capital Management LLC now owns 143,825 shares of the company’s stock valued at $8,852,000 after buying an additional 40,105 shares during the last quarter. Hancock Whitney Corp grew its stake in shares of Corteva by 5.5% during the first quarter. Hancock Whitney Corp now owns 4,435 shares of the company’s stock valued at $279,000 after acquiring an additional 230 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of Corteva during the first quarter worth approximately $3,621,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Trading Up 1.1%

Shares of CTVA stock opened at $67.80 on Monday. The firm’s fifty day simple moving average is $65.53 and its 200 day simple moving average is $68.93. The firm has a market capitalization of $45.81 billion, a P/E ratio of 28.97, a price-to-earnings-growth ratio of 1.39 and a beta of 0.74. The company has a current ratio of 1.58, a quick ratio of 1.07 and a debt-to-equity ratio of 0.07. Corteva, Inc. has a 1 year low of $53.40 and a 1 year high of $77.41.

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, beating the consensus estimate of ($0.49) by $0.26. Corteva had a return on equity of 9.37% and a net margin of 9.19%.The firm had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same period in the previous year, the company posted ($0.49) earnings per share. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, sell-side analysts predict that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were given a dividend of $0.18 per share. The ex-dividend date was Monday, December 1st. This represents a $0.72 annualized dividend and a dividend yield of 1.1%. Corteva’s payout ratio is currently 30.77%.

Analyst Ratings Changes

CTVA has been the subject of a number of analyst reports. UBS Group reduced their target price on shares of Corteva from $85.00 to $81.00 and set a “buy” rating for the company in a research note on Thursday, October 30th. Mizuho decreased their price target on Corteva from $85.00 to $78.00 and set an “outperform” rating for the company in a research report on Wednesday, October 8th. JPMorgan Chase & Co. raised shares of Corteva from a “neutral” rating to an “overweight” rating and set a $67.00 price objective for the company in a research note on Thursday, October 2nd. Wolfe Research raised their target price on Corteva from $79.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. Finally, BMO Capital Markets set a $86.00 price target on Corteva in a research report on Monday, September 15th. Sixteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average 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.