Concurrent Investment Advisors LLC Grows Stock Position in Corteva, Inc. $CTVA

Concurrent Investment Advisors LLC lifted its stake in shares of Corteva, Inc. (NYSE:CTVA) by 22.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,309 shares of the company’s stock after purchasing an additional 4,568 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Corteva were worth $1,886,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Brighton Jones LLC increased its position in Corteva by 307.2% during the 4th quarter. Brighton Jones LLC now owns 15,588 shares of the company’s stock worth $888,000 after purchasing an additional 11,760 shares during the period. Farther Finance Advisors LLC increased its position in Corteva by 13.9% during the 1st quarter. Farther Finance Advisors LLC now owns 4,387 shares of the company’s stock worth $279,000 after purchasing an additional 536 shares during the period. GAMMA Investing LLC raised its position in Corteva by 15.0% in the first quarter. GAMMA Investing LLC now owns 15,061 shares of the company’s stock worth $948,000 after acquiring an additional 1,962 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Corteva by 5.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 136,128 shares of the company’s stock worth $8,567,000 after acquiring an additional 6,814 shares in the last quarter. Finally, Ritholtz Wealth Management purchased a new position in Corteva in the first quarter worth $2,007,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Trading Up 0.0%

Shares of CTVA stock opened at $62.68 on Wednesday. Corteva, Inc. has a fifty-two week low of $53.40 and a fifty-two week high of $77.41. The stock has a market cap of $42.56 billion, a P/E ratio of 30.57, a P/E/G ratio of 1.42 and a beta of 0.76. The business has a fifty day simple moving average of $70.00 and a 200-day simple moving average of $68.96. The company has a quick ratio of 1.23, a current ratio of 1.68 and a debt-to-equity ratio of 0.06.

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

Corteva Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. 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 dividend yield of 1.1%. Corteva’s dividend payout ratio 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 dated 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 sale, the executive vice president directly owned 49,262 shares of the company’s stock, valued at approximately $3,655,240.40. This trade represents a 43.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Morgan Stanley set a $84.00 price objective on Corteva in a research report on Monday, September 15th. BMO Capital Markets set a $86.00 price objective on Corteva in a research report on Monday, September 15th. Deutsche Bank Aktiengesellschaft increased their price objective on Corteva from $83.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, September 15th. Zacks Research upgraded Corteva from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 1st. Finally, Jefferies Financial Group cut their price objective on Corteva from $92.00 to $85.00 in a research report on Thursday, October 2nd. One research 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.81.

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.