Valeo Financial Advisors LLC Raises Position in Corteva, Inc. $CTVA

Valeo Financial Advisors LLC raised its position in Corteva, Inc. (NYSE:CTVA) by 4,168.7% in the 2nd quarter, Holdings Channel reports. The fund owned 571,320 shares of the company’s stock after purchasing an additional 557,936 shares during the period. Valeo Financial Advisors LLC’s holdings in Corteva were worth $42,580,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Maryland Capital Advisors Inc. purchased a new position in shares of Corteva during the 2nd quarter valued at approximately $29,000. Valley National Advisers Inc. boosted its stake in Corteva by 85.9% during the 1st quarter. Valley National Advisers Inc. now owns 526 shares of the company’s stock valued at $33,000 after acquiring an additional 243 shares during the last quarter. Richardson Capital Management LLC acquired a new position in Corteva during the 1st quarter worth $37,000. DHJJ Financial Advisors Ltd. increased its position in shares of Corteva by 132.2% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 527 shares of the company’s stock worth $39,000 after purchasing an additional 300 shares during the last quarter. Finally, von Borstel & Associates Inc. acquired a new stake in shares of Corteva in the 1st quarter valued at about $44,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Price Performance

Shares of NYSE CTVA opened at $63.36 on Monday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.68 and a quick ratio of 1.23. The firm has a market capitalization of $43.03 billion, a PE ratio of 30.91, a P/E/G ratio of 1.43 and a beta of 0.76. Corteva, Inc. has a 1-year low of $53.40 and a 1-year high of $77.41. The business’s fifty day moving average price is $71.24 and its two-hundred day moving average price is $68.95.

Corteva (NYSE:CTVA) last released its quarterly earnings results on Wednesday, August 6th. The company reported $2.20 EPS for the quarter, topping the consensus estimate of $1.89 by $0.31. Corteva had a net margin of 8.16% and a return on equity of 8.68%. The business had revenue of $6.46 billion during the quarter, compared to analyst estimates of $6.26 billion. During the same quarter in the prior year, the firm earned $1.83 earnings per share. The company’s quarterly revenue was up 5.6% on a year-over-year basis. On average, research analysts expect that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were paid a $0.18 dividend. The ex-dividend date was Tuesday, September 2nd. This is an increase from Corteva’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 1.1%. Corteva’s dividend payout ratio (DPR) is 35.12%.

Insider Buying and Selling at Corteva

In other news, EVP Robert D. King sold 37,280 shares of the business’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the completion of the transaction, the executive vice president directly owned 49,262 shares in the company, valued at approximately $3,655,240.40. The trade was a 43.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

CTVA has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft lifted their price target on Corteva from $83.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, September 15th. BMO Capital Markets set a $86.00 price target on Corteva in a report on Monday, September 15th. Zacks Research raised Corteva from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 1st. Morgan Stanley set a $84.00 price objective on shares of Corteva in a report on Monday, September 15th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Corteva in a research note on Saturday, September 27th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Corteva presently has an average rating of “Moderate Buy” and an average price target of $80.67.

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.