Vestmark Advisory Solutions Inc., a highly successful and proactive financial services company, has reduced its stake in Corteva Inc. by a significant 26.0% during the most recent quarter. According to Form 13F filings with the Securities & Exchange Commission, Vestmark Advisory now owns 10,320 shares of the company’s stock after selling 3,626 shares within that period. Nonetheless, it is worth noting that Vestmark’s holdings in Corteva were worth $607,000 at the end of this reporting period.
Corteva recently posted its quarterly earnings results on Thursday, February 2nd. Impressively, the chemical company reported $0.16 earnings per share (EPS) for the quarter which far exceeded analysts’ consensus estimates of $0.06 by $0.10 – an astounding difference given recent market trends in this sector. Furthermore, Corteva had a net margin of 6.57% and a return on equity of 7.54%. The company also had a significant increase in revenue for Q1, reaching $3.83 billion compared to the consensus estimate of $3.79 billion.
Several research analysts have provided their input regarding Corteva’s current investment standings; Bank of America raised Corteva from an “underperform” rating to a “neutral” rating whilst increasing their price target from $64 to $68 in January’s report; similarly, Mizuho raised their price target on Corteva from $76.00 to $78.00 and gave it a “buy” rating; Citigroup also increased their price target on Corteva from $72 to $74 whilst awarding them with a buy rating in February’s report; finally, Morgan Stanley awarded Corteva an “overweight” rating whilst increasing their price target from $70 to an impressive figure of $80 in Q1.
In conclusion: despite recent adjustments made by investment companies such as Vestmark Advisory, Corteva’s progress for 2021 remains strong with its profits exceeding the market trends in this sector. In light of these promising results, many companies are giving Corteva an encouraging “buy” rating and raising their price targets for Q2.
Corteva, Inc.’s Stocks Rise and Fall Among Hedge Funds While Analysts Remain Positive
Corteva, Inc., a leading global provider of agricultural products and services, has seen its stock holdings rise and fall among prominent hedge funds in recent months. Among those adding to their stakes in the company are Hedeker Wealth LLC, Sturgeon Ventures LLP, HB Wealth Management LLC, Miracle Mile Advisors LLC, and First Command Bank. Together, institutional investors own 79.45% of the company’s stock.
Shares of CTVA stock opened at $61.00 on Tuesday, with the firm boasting a market cap of $43.47 billion as well as a price-to-earnings ratio of 38.85 and beta of 0.80. While the company’s debt-to-equity ratio remains low at 0.05, its performance over the last year has put it within range of both its 1-year low and high ($50.03 and $68.43 respectively).
Despite uncertainty around Corteva’s future performance based on previous highs, research analysts have largely endorsed CTVA as a buy or moderate buy-based stock in recent reports from industry insiders including Mizuho, Citigroup and Morgan Stanleyamong others.Client sentiment appears similarly amenable; four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock.
Corteva reported quarterly dividend which was paid out to investors in mid-March alongside news that CEO Charles V Magro had purchased an additional 40,000 shares in early February for an average cost per share of USD60.64 – totaling USD2,4256m – causing his personal holdings to reach approximately USD7.64m.
While fluctuating holdings from institutional investors could signal some ambiguity around the potential growth or decline trajectory for Corteva markets over time,it seems that current trends point toward moderate growth overall among client investors in this globally recognised agribusiness giant for now.
