Wealthcare Advisory Partners LLC Makes New Investment in Corteva, Inc. $CTVA

Wealthcare Advisory Partners LLC purchased a new position in Corteva, Inc. (NYSE:CTVA) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,852 shares of the company’s stock, valued at approximately $213,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Peak Financial Advisors LLC acquired a new position in Corteva in the 2nd quarter worth approximately $505,000. Cary Street Partners Financial LLC boosted its stake in Corteva by 20.7% in the 1st quarter. Cary Street Partners Financial LLC now owns 90,206 shares of the company’s stock worth $5,677,000 after purchasing an additional 15,448 shares during the period. PGGM Investments boosted its stake in Corteva by 68.5% in the 2nd quarter. PGGM Investments now owns 1,223,444 shares of the company’s stock worth $91,183,000 after purchasing an additional 497,200 shares during the period. Goldman Sachs Group Inc. boosted its stake in Corteva by 28.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,851,993 shares of the company’s stock worth $179,476,000 after purchasing an additional 634,938 shares during the period. Finally, S.E.E.D. Planning Group LLC boosted its stake in Corteva by 70.3% in the 2nd quarter. S.E.E.D. Planning Group LLC now owns 164,393 shares of the company’s stock worth $12,252,000 after purchasing an additional 67,869 shares during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.

Insider Buying and Selling

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

Corteva Stock Performance

Shares of CTVA opened at $61.90 on Friday. The company has a market capitalization of $42.04 billion, a PE ratio of 30.20, a price-to-earnings-growth ratio of 1.42 and a beta of 0.76. Corteva, Inc. has a one year low of $53.40 and a one year high of $77.41. 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 company’s fifty day moving average price is $70.38 and its 200 day moving average price is $68.91.

Corteva (NYSE:CTVA) last announced its 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. The firm had revenue of $6.46 billion for the quarter, compared to the consensus estimate of $6.26 billion. Corteva had a net margin of 8.16% and a return on equity of 8.68%. The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.83 EPS. As a group, 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. Investors of record on Tuesday, September 2nd were issued a $0.18 dividend. This is a boost from Corteva’s previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, September 2nd. This represents a $0.72 annualized dividend and a yield of 1.2%. Corteva’s payout ratio is 35.12%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CTVA shares. Royal Bank Of Canada reissued an “outperform” rating on shares of Corteva in a research note on Monday, August 11th. Wells Fargo & Company reissued an “overweight” rating and set a $83.00 target price (up previously from $82.00) on shares of Corteva in a research note on Friday, August 8th. KeyCorp reissued a “sector weight” rating on shares of Corteva in a research note on Friday, October 3rd. UBS Group decreased their target price on shares of Corteva from $91.00 to $85.00 and set a “buy” rating for the company in a research note on Monday. Finally, Morgan Stanley set a $84.00 target price on shares of Corteva in a research note on Monday, September 15th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.13.

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.