Folger Nolan Fleming Douglas Capital Management Inc. Cuts Stock Holdings in Corteva, Inc. $CTVA

Folger Nolan Fleming Douglas Capital Management Inc. lessened its stake in Corteva, Inc. (NYSE:CTVA) by 10.8% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,011,913 shares of the company’s stock after selling 122,032 shares during the quarter. Corteva makes up about 8.4% of Folger Nolan Fleming Douglas Capital Management Inc.’s holdings, making the stock its 2nd largest position. Folger Nolan Fleming Douglas Capital Management Inc. owned approximately 0.15% of Corteva worth $75,418,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of CTVA. Brighton Jones LLC lifted its holdings in shares of Corteva by 307.2% in the fourth quarter. Brighton Jones LLC now owns 15,588 shares of the company’s stock valued at $888,000 after purchasing an additional 11,760 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Corteva by 13.9% in the first quarter. Farther Finance Advisors LLC now owns 4,387 shares of the company’s stock valued at $279,000 after purchasing an additional 536 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Corteva by 15.0% in the first quarter. GAMMA Investing LLC now owns 15,061 shares of the company’s stock valued at $948,000 after purchasing an additional 1,962 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Corteva by 268.7% in the first quarter. SG Americas Securities LLC now owns 37,800 shares of the company’s stock valued at $2,379,000 after purchasing an additional 27,549 shares in the last quarter. Finally, CX Institutional lifted its holdings in shares of Corteva by 34.2% in the first quarter. CX Institutional now owns 6,123 shares of the company’s stock valued at $385,000 after purchasing an additional 1,560 shares in the last quarter. Institutional investors own 81.54% of the company’s stock.

Corteva Stock Performance

NYSE:CTVA opened at $61.90 on Friday. 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 business has a fifty day simple moving average of $70.38 and a two-hundred day simple moving average of $68.91. Corteva, Inc. has a 1 year low of $53.40 and a 1 year high of $77.41. The company has a market capitalization of $42.04 billion, a P/E ratio of 30.20, a P/E/G ratio of 1.42 and a beta of 0.76.

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

Corteva Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were given a $0.18 dividend. This is an increase from Corteva’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Tuesday, September 2nd. Corteva’s dividend payout ratio (DPR) is 35.12%.

Insider Transactions at Corteva

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

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Weiss Ratings lowered Corteva from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday. JPMorgan Chase & Co. raised Corteva from a “neutral” rating to an “overweight” rating and set a $67.00 price target for the company in a research report on Thursday, October 2nd. KeyCorp reaffirmed a “sector weight” rating on shares of Corteva in a research report on Friday, October 3rd. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Corteva in a research report on Monday, August 11th. Finally, Oppenheimer set a $87.00 price target on Corteva and gave the company an “outperform” rating in a research report on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $80.13.

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.