William Blair Investment Management LLC Sells 9,868 Shares of Corteva, Inc. $CTVA

William Blair Investment Management LLC lowered its holdings in shares of Corteva, Inc. (NYSE:CTVAFree Report) by 31.7% in the 2nd quarter, Holdings Channel.com reports. The fund owned 21,252 shares of the company’s stock after selling 9,868 shares during the period. William Blair Investment Management LLC’s holdings in Corteva were worth $1,584,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of CTVA. Maryland Capital Advisors Inc. bought a new position in shares of Corteva during the second quarter valued at $29,000. Valley National Advisers Inc. raised its stake in Corteva by 85.9% during the first quarter. Valley National Advisers Inc. now owns 526 shares of the company’s stock worth $33,000 after buying an additional 243 shares during the last quarter. Richardson Capital Management LLC bought a new position in Corteva during the first quarter worth $37,000. DHJJ Financial Advisors Ltd. raised its stake in Corteva by 132.2% during the second quarter. DHJJ Financial Advisors Ltd. now owns 527 shares of the company’s stock worth $39,000 after buying an additional 300 shares during the last quarter. Finally, von Borstel & Associates Inc. bought a new position in Corteva during the first quarter worth $44,000. Institutional investors own 81.54% of the company’s stock.

Corteva Stock Up 0.9%

Shares of NYSE CTVA opened at $61.93 on Tuesday. 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 has a 50-day moving average price of $69.23 and a 200-day moving average price of $69.02. Corteva, Inc. has a 1 year low of $53.40 and a 1 year high of $77.41. The stock has a market capitalization of $42.06 billion, a P/E ratio of 30.21, a P/E/G ratio of 1.40 and a beta of 0.76.

Corteva (NYSE:CTVAGet Free Report) last released its quarterly earnings results 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. The company had revenue of $6.46 billion for the quarter, compared to analyst estimates of $6.26 billion. Corteva had a net margin of 8.16% and a return on equity of 8.68%. The firm’s revenue was up 5.6% on a year-over-year basis. During the same period last year, the firm earned $1.83 earnings per share. On average, equities research analysts forecast that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Increases Dividend

The firm also recently declared 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. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Tuesday, September 2nd. This is an increase from Corteva’s previous quarterly dividend of $0.17. Corteva’s dividend payout ratio is currently 35.12%.

Wall Street Analyst Weigh In

CTVA has been the subject of a number of research reports. Oppenheimer set a $87.00 price target on shares of Corteva and gave the stock an “outperform” rating in a report on Tuesday, July 15th. Argus reduced their price target on shares of Corteva from $83.00 to $80.00 and set a “buy” rating for the company in a report on Monday, October 13th. Weiss Ratings cut shares of Corteva from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 8th. Barclays upgraded shares of Corteva from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $75.00 to $84.00 in a report on Wednesday, August 13th. Finally, KeyCorp restated a “sector weight” rating on shares of Corteva in a report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $80.31.

Get Our Latest Stock Analysis on CTVA

Insider Activity at Corteva

In related news, EVP Robert D. King sold 37,280 shares of the company’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 transaction of $2,766,176.00. Following the sale, the executive vice president directly owned 49,262 shares in the company, valued at approximately $3,655,240.40. This represents a 43.08% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.15% of the company’s stock.

Corteva Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Corteva (NYSE:CTVA)

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