Equitable Trust Co. Lowers Stock Holdings in Corteva, Inc. $CTVA

Equitable Trust Co. reduced its position in Corteva, Inc. (NYSE:CTVA) by 4.4% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 6,040 shares of the company’s stock after selling 278 shares during the period. Equitable Trust Co.’s holdings in Corteva were worth $450,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Maryland Capital Advisors Inc. purchased a new stake in shares of Corteva during the 2nd quarter valued at $29,000. Valley National Advisers Inc. grew its stake in shares of Corteva by 85.9% during the 1st quarter. Valley National Advisers Inc. now owns 526 shares of the company’s stock valued at $33,000 after buying an additional 243 shares during the period. Richardson Capital Management LLC purchased a new stake in shares of Corteva during the 1st quarter valued at $37,000. DHJJ Financial Advisors Ltd. grew its stake in shares of Corteva by 132.2% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 527 shares of the company’s stock valued at $39,000 after buying an additional 300 shares during the period. Finally, von Borstel & Associates Inc. purchased a new stake in shares of Corteva during the 1st quarter valued at $44,000. 81.54% of the stock is owned by hedge funds and other institutional investors.

Corteva Stock Performance

Shares of CTVA stock opened at $61.94 on Thursday. Corteva, Inc. has a 12 month low of $53.40 and a 12 month 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 firm has a market capitalization of $42.06 billion, a P/E ratio of 30.22, a P/E/G ratio of 1.42 and a beta of 0.76. The company’s fifty day moving average price is $69.82 and its two-hundred day moving average price is $68.91.

Corteva (NYSE:CTVA) last released its earnings results on Wednesday, August 6th. The company reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.31. The company had revenue of $6.46 billion during 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 company’s revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.83 EPS. On average, research analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Increases Dividend

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

Insider Buying and Selling at Corteva

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 value of $2,766,176.00. Following the completion of the sale, the executive vice president owned 49,262 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Oppenheimer set a $87.00 price objective on shares of Corteva and gave the company an “outperform” rating in a research note on Tuesday, July 15th. Mizuho lowered their price objective on shares of Corteva from $85.00 to $78.00 and set an “outperform” rating for the company in a research note on Wednesday, October 8th. Morgan Stanley set a $84.00 target price on shares of Corteva in a report on Monday, September 15th. Wall Street Zen upgraded shares of Corteva from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Corteva from $83.00 to $90.00 and gave the company a “buy” rating in a report on Monday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $80.81.

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.