FineMark National Bank & Trust cut its holdings in Corteva, Inc. (NYSE:CTVA – Get Rating) by 11.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,233 shares of the company’s stock after selling 1,093 shares during the quarter. FineMark National Bank & Trust’s holdings in Corteva were worth $389,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in CTVA. Morgan Stanley lifted its position in shares of Corteva by 23.2% in the third quarter. Morgan Stanley now owns 5,711,897 shares of the company’s stock valued at $240,356,000 after acquiring an additional 1,075,445 shares in the last quarter. Invesco Ltd. boosted its stake in Corteva by 7.1% during the 3rd quarter. Invesco Ltd. now owns 15,314,085 shares of the company’s stock worth $644,418,000 after purchasing an additional 1,013,245 shares during the last quarter. Lazard Asset Management LLC grew its holdings in shares of Corteva by 553.0% during the fourth quarter. Lazard Asset Management LLC now owns 1,044,481 shares of the company’s stock worth $49,382,000 after buying an additional 884,537 shares in the last quarter. UBS Group AG grew its stake in Corteva by 52.1% during the 3rd quarter. UBS Group AG now owns 2,044,208 shares of the company’s stock valued at $86,022,000 after acquiring an additional 700,206 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Corteva by 167.6% in the 3rd quarter. Renaissance Technologies LLC now owns 1,095,900 shares of the company’s stock valued at $46,115,000 after acquiring an additional 686,300 shares during the last quarter. 79.46% of the stock is owned by institutional investors and hedge funds.
In other Corteva news, Director Klaus A. Engel sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 15th. The shares were sold at an average price of $52.76, for a total transaction of $158,280.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.08% of the stock is currently owned by company insiders.
NYSE CTVA opened at $62.09 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.64 and a quick ratio of 1.13. The company has a market cap of $44.93 billion, a P/E ratio of 26.42, a P/E/G ratio of 1.74 and a beta of 0.65. The stock has a 50-day moving average of $58.03 and a two-hundred day moving average of $51.88. Corteva, Inc. has a 1-year low of $40.60 and a 1-year high of $62.20.
Corteva (NYSE:CTVA – Get Rating) last announced its quarterly earnings data on Wednesday, May 4th. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.16. The firm had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.47 billion. Corteva had a net margin of 10.72% and a return on equity of 6.70%. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.79 earnings per share. On average, analysts anticipate that Corteva, Inc. will post 2.53 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 15th. Stockholders of record on Friday, May 13th will be given a dividend of $0.14 per share. The ex-dividend date is Thursday, May 12th. This represents a $0.56 annualized dividend and a dividend yield of 0.90%. Corteva’s dividend payout ratio is currently 23.83%.
About Corteva (Get Rating)
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.
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