Empower Advisory Group LLC has acquired a new position in Corteva, Inc. during the first quarter, according to a 13F filing with the Securities and Exchange Commission. The firm purchased 4,594 shares of Corteva’s stock, valued at approximately $280,000. This move follows recent activity from other institutional investors who have also bought and sold shares of CTVA.
Several equities analysts have commented on CTVA shares. Mizuho, Barclays, Credit Suisse Group, JPMorgan Chase & Co., and Vertical Research have all provided ratings and target prices for the stock. Corteva currently has an average rating of “Moderate Buy” and a consensus target price of $70.41.
Corteva, Inc. operates in the agriculture business, specifically in the Seed and Crop Protection segments. The Seed segment focuses on developing and supplying advanced germplasm and traits that maximize farm yield. The company offers traits that enhance resistance to weather, disease, insects, and herbicides, as well as improve food and nutritional characteristics.
In terms of financial performance, Corteva reported $1.60 earnings per share for the quarter, surpassing the consensus estimate of $1.58. The firm had revenue of $6.05 billion, which was lower than analysts’ expectations. However, Corteva expects to post 2.84 EPS for the current fiscal year.
On another note, Corteva recently increased its quarterly dividend. Shareholders of record on September 1st received a $0.16 dividend, representing a boost from the previous $0.15 dividend.
Sources:
– MarketBeat
– NYSE:CTVA