Shell Asset Management Co. Has $784,000 Stake in Corteva, Inc. (NYSE:CTVA)

Shell Asset Management Co. trimmed its position in shares of Corteva, Inc. (NYSE:CTVA) by 42.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,595 shares of the company’s stock after selling 9,848 shares during the quarter. Shell Asset Management Co.’s holdings in Corteva were worth $784,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Crewe Advisors LLC purchased a new stake in Corteva in the 1st quarter valued at $72,000. Natixis Investment Managers International purchased a new stake in shares of Corteva during the 1st quarter valued at $1,138,000. Natixis increased its position in shares of Corteva by 435.7% during the 1st quarter. Natixis now owns 180,306 shares of the company’s stock valued at $10,398,000 after purchasing an additional 146,647 shares during the last quarter. Platinum Investment Management Ltd. increased its position in shares of Corteva by 245.0% during the 1st quarter. Platinum Investment Management Ltd. now owns 3,329 shares of the company’s stock valued at $192,000 after purchasing an additional 2,364 shares during the last quarter. Finally, Herr Investment Group LLC increased its position in shares of Corteva by 2.8% during the 1st quarter. Herr Investment Group LLC now owns 7,400 shares of the company’s stock valued at $427,000 after purchasing an additional 200 shares during the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CTVA has been the subject of several research reports. Royal Bank of Canada increased their price target on Corteva from $62.00 to $64.00 and gave the stock an “outperform” rating in a research note on Monday, May 6th. Canaccord Genuity Group increased their price target on Corteva from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. OTR Global reiterated a “negative” rating on shares of Corteva in a research note on Friday, June 7th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $65.00 price target on shares of Corteva in a research note on Wednesday, June 12th. Finally, Mizuho cut their price target on Corteva from $61.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, June 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.00.

Insider Buying and Selling

In other Corteva news, insider Brian Titus sold 12,134 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $56.65, for a total value of $687,391.10. Following the completion of the sale, the insider now directly owns 13,495 shares in the company, valued at $764,491.75. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Corteva news, insider Brian Titus sold 12,134 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $56.65, for a total value of $687,391.10. Following the completion of the sale, the insider now directly owns 13,495 shares in the company, valued at $764,491.75. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Cornel B. Fuerer sold 39,736 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $57.41, for a total value of $2,281,243.76. Following the completion of the transaction, the senior vice president now directly owns 126,628 shares in the company, valued at $7,269,713.48. The disclosure for this sale can be found here. Insiders sold 83,556 shares of company stock worth $4,795,016 in the last three months. 0.14% of the stock is owned by insiders.

Corteva Stock Up 0.2 %

Shares of CTVA opened at $55.39 on Friday. The stock has a market capitalization of $38.61 billion, a price-to-earnings ratio of 70.11, a price-to-earnings-growth ratio of 1.49 and a beta of 0.77. Corteva, Inc. has a 1 year low of $43.22 and a 1 year high of $58.76. The business’s 50 day simple moving average is $53.68 and its 200-day simple moving average is $53.58. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.51 and a quick ratio of 0.97.

Corteva (NYSE:CTVA) last released its earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.10. The firm had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.65 billion. Corteva had a return on equity of 6.68% and a net margin of 3.32%. The company’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.16 EPS. As a group, equities analysts expect that Corteva, Inc. will post 2.78 earnings per share for the current fiscal year.

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.