Corteva, Inc. $CTVA Shares Sold by Eastern Bank

Eastern Bank lessened its position in Corteva, Inc. (NYSE:CTVA) by 12.4% in the 2nd quarter, Holdings Channel reports. The fund owned 4,947 shares of the company’s stock after selling 700 shares during the period. Eastern Bank’s holdings in Corteva were worth $369,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Maryland Capital Advisors Inc. acquired a new stake in shares of Corteva in the 2nd quarter worth $29,000. Valley National Advisers Inc. lifted its stake in shares of Corteva by 85.9% in the first quarter. Valley National Advisers Inc. now owns 526 shares of the company’s stock valued at $33,000 after purchasing an additional 243 shares during the period. Richardson Capital Management LLC acquired a new stake in shares of Corteva in the first quarter valued at about $37,000. DHJJ Financial Advisors Ltd. lifted its stake in shares of Corteva by 132.2% in the second quarter. DHJJ Financial Advisors Ltd. now owns 527 shares of the company’s stock valued at $39,000 after purchasing an additional 300 shares during the period. Finally, von Borstel & Associates Inc. acquired a new stake in shares of Corteva in the first quarter valued at about $44,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Insider Transactions at Corteva

In related news, EVP Robert D. King sold 37,280 shares of the business’s 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 completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

CTVA has been the subject of several recent analyst reports. Royal Bank Of Canada reiterated an “outperform” rating on shares of Corteva in a research note on Monday, August 11th. Wall Street Zen upgraded shares of Corteva from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. UBS Group cut their target price on shares of Corteva from $91.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, October 6th. BMO Capital Markets set a $86.00 target price on shares of Corteva in a research report on Monday, September 15th. Finally, JPMorgan Chase & Co. upgraded shares of Corteva from a “neutral” rating to an “overweight” rating and set a $67.00 target price for the company in a research report on Thursday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $80.13.

Corteva Stock Performance

NYSE:CTVA opened at $61.90 on Monday. The firm has a 50 day simple moving average of $70.38 and a 200-day simple moving average of $68.99. 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 cap of $42.04 billion, a PE ratio of 30.20, a P/E/G ratio of 1.40 and a beta of 0.76. Corteva, Inc. has a 1-year low of $53.40 and a 1-year high of $77.41.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates 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 previous year, the business posted $1.83 earnings per share. The company’s revenue was up 5.6% on a year-over-year basis. On average, equities analysts expect that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Increases Dividend

The business 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. The ex-dividend date was Tuesday, September 2nd. This is a positive change 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%. Corteva’s payout ratio is presently 35.12%.

Corteva 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.