NorthRock Partners LLC Raises Stock Holdings in Corteva, Inc. $CTVA

NorthRock Partners LLC boosted its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 34.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,733 shares of the company’s stock after buying an additional 2,512 shares during the period. NorthRock Partners LLC’s holdings in Corteva were worth $725,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Moody National Bank Trust Division increased its position in Corteva by 0.7% during the 2nd quarter. Moody National Bank Trust Division now owns 22,139 shares of the company’s stock valued at $1,650,000 after buying an additional 143 shares in the last quarter. Ancora Advisors LLC increased its position in Corteva by 0.8% during the 1st quarter. Ancora Advisors LLC now owns 18,567 shares of the company’s stock valued at $1,168,000 after buying an additional 150 shares in the last quarter. NewEdge Advisors LLC increased its position in Corteva by 0.5% during the 1st quarter. NewEdge Advisors LLC now owns 31,455 shares of the company’s stock valued at $1,979,000 after buying an additional 152 shares in the last quarter. Plancorp LLC increased its position in Corteva by 2.3% during the 1st quarter. Plancorp LLC now owns 7,156 shares of the company’s stock valued at $450,000 after buying an additional 158 shares in the last quarter. Finally, Legacy Financial Advisors Inc. increased its position in Corteva by 4.4% during the 1st quarter. Legacy Financial Advisors Inc. now owns 3,761 shares of the company’s stock valued at $237,000 after buying an additional 160 shares in the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Barclays raised Corteva from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $75.00 to $84.00 in a report on Wednesday, August 13th. Wall Street Zen raised Corteva from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Jefferies Financial Group cut their price objective on Corteva from $92.00 to $85.00 in a report on Thursday, October 2nd. Deutsche Bank Aktiengesellschaft increased their price objective on Corteva from $83.00 to $90.00 and gave the company a “buy” rating in a report on Monday, September 15th. Finally, Mizuho cut their price objective on Corteva from $85.00 to $78.00 and set an “outperform” rating on the stock in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $80.81.

Insider Buying and Selling at Corteva

In other news, EVP Robert D. King sold 37,280 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president owned 49,262 shares in the company, 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 legal filing with the SEC, which is available through this link. 0.15% of the stock is currently owned by company insiders.

Corteva Stock Up 0.0%

Shares of CTVA opened at $62.68 on Wednesday. The company has a market capitalization of $42.56 billion, a price-to-earnings ratio of 30.57, a PEG ratio of 1.42 and a beta of 0.76. The stock’s 50-day moving average price is $70.00 and its 200-day moving average price is $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, Inc. has a 52 week low of $53.40 and a 52 week high of $77.41.

Corteva (NYSE:CTVA) last issued its quarterly 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. The company had revenue of $6.46 billion for the quarter, compared to the consensus estimate of $6.26 billion. Corteva had a return on equity of 8.68% and a net margin of 8.16%.Corteva’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.83 earnings per share. On average, sell-side analysts predict that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.18 per share. 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 1.1%. The ex-dividend date was Tuesday, September 2nd. Corteva’s dividend payout ratio (DPR) is currently 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.