Joel Isaacson & Co. LLC Invests $228,000 in Corteva, Inc. $CTVA

Joel Isaacson & Co. LLC acquired a new stake in shares of Corteva, Inc. (NYSE:CTVA) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,059 shares of the company’s stock, valued at approximately $228,000.

A number of other large investors have also recently added to or reduced their stakes in CTVA. KLP Kapitalforvaltning AS lifted its position in shares of Corteva by 6.2% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 251,676 shares of the company’s stock worth $18,757,000 after buying an additional 14,600 shares during the last quarter. Bingham Private Wealth LLC bought a new position in shares of Corteva in the 2nd quarter worth about $296,000. Valeo Financial Advisors LLC lifted its position in shares of Corteva by 4,168.7% in the 2nd quarter. Valeo Financial Advisors LLC now owns 571,320 shares of the company’s stock worth $42,580,000 after buying an additional 557,936 shares during the last quarter. Three Bridge Wealth Advisors LLC bought a new position in shares of Corteva in the 2nd quarter worth about $246,000. Finally, Iron Horse Wealth Management LLC lifted its position in shares of Corteva by 842.6% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 7,117 shares of the company’s stock worth $530,000 after buying an additional 6,362 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CTVA shares. JPMorgan Chase & Co. upgraded shares of Corteva from a “neutral” rating to an “overweight” rating and set a $67.00 price target on the stock in a research report on Thursday, October 2nd. KeyCorp reiterated a “sector weight” rating on shares of Corteva in a research report on Friday, October 3rd. BMO Capital Markets set a $86.00 price objective on shares of Corteva in a research report on Monday, September 15th. Morgan Stanley set a $84.00 price objective on shares of Corteva in a research report on Monday, September 15th. Finally, Oppenheimer set a $87.00 price objective on shares of Corteva and gave the company an “outperform” rating in a research report on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $80.13.

Corteva Stock Down 3.8%

Corteva stock opened at $63.10 on Thursday. The company’s 50-day moving average price is $70.75 and its two-hundred day moving average price is $68.90. The stock has a market cap of $42.85 billion, a price-to-earnings ratio of 30.78, a PEG ratio of 1.48 and a beta of 0.76. The company has a current ratio of 1.68, a quick ratio of 1.23 and a debt-to-equity ratio of 0.06. Corteva, Inc. has a 52 week low of $53.40 and a 52 week high of $77.41.

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

Corteva Increases Dividend

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

Insider Activity

In other news, EVP Robert D. King sold 37,280 shares of Corteva stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $74.20, for a total value of $2,766,176.00. Following the transaction, the executive vice president owned 49,262 shares of the company’s stock, valued at $3,655,240.40. The trade was a 43.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.14% of the stock is owned by corporate insiders.

Corteva Company Profile

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.