Whittier Trust Co. Grows Stock Holdings in Corteva, Inc. $CTVA

Whittier Trust Co. raised its position in shares of Corteva, Inc. (NYSE:CTVA) by 1.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,094 shares of the company’s stock after buying an additional 302 shares during the period. Whittier Trust Co.’s holdings in Corteva were worth $1,796,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of CTVA. Nuveen LLC purchased a new stake in shares of Corteva during the first quarter worth $640,333,000. WCM Investment Management LLC increased its position in shares of Corteva by 29.6% during the second quarter. WCM Investment Management LLC now owns 9,044,706 shares of the company’s stock worth $672,836,000 after acquiring an additional 2,066,519 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Corteva by 4,769.2% during the second quarter. Assenagon Asset Management S.A. now owns 1,924,419 shares of the company’s stock worth $143,427,000 after acquiring an additional 1,884,897 shares during the period. JPMorgan Chase & Co. increased its position in shares of Corteva by 54.6% during the first quarter. JPMorgan Chase & Co. now owns 5,009,038 shares of the company’s stock worth $315,219,000 after acquiring an additional 1,769,355 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Corteva by 65.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,251,449 shares of the company’s stock worth $204,615,000 after acquiring an additional 1,290,009 shares during the period. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Corteva Stock Performance

Shares of CTVA stock opened at $63.05 on Thursday. The company has a current ratio of 1.68, a quick ratio of 1.23 and a debt-to-equity ratio of 0.06. The firm has a fifty day moving average price of $68.86 and a 200 day moving average price of $68.93. The company has a market cap of $42.82 billion, a P/E ratio of 30.76, a PEG ratio of 1.42 and a beta of 0.76. Corteva, Inc. has a 12 month low of $53.40 and a 12 month high of $77.41.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Wednesday, August 6th. The company reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.31. Corteva had a net margin of 8.16% and a return on equity of 8.68%. The company had revenue of $6.46 billion during the quarter, compared to the consensus estimate of $6.26 billion. During the same quarter in the prior year, the firm posted $1.83 earnings per share. Corteva’s revenue for the quarter was up 5.6% on a year-over-year basis. Sell-side analysts predict 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. Shareholders of record on Tuesday, September 2nd were paid a $0.18 dividend. This is a boost from Corteva’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 1.1%. The ex-dividend date was Tuesday, September 2nd. Corteva’s payout ratio is currently 35.12%.

Insider Transactions at Corteva

In other Corteva news, EVP Robert D. King sold 37,280 shares of the company’s stock in a transaction 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 transaction, the executive vice president owned 49,262 shares in the company, valued at $3,655,240.40. This 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 at this hyperlink. 0.14% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CTVA has been the topic of a number of recent research reports. Morgan Stanley set a $84.00 price objective on Corteva in a research report on Monday, September 15th. Argus cut their price objective on Corteva from $83.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Deutsche Bank Aktiengesellschaft upped 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 raised Corteva from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 1st. Finally, Royal Bank Of Canada lowered their target price on shares of Corteva from $86.00 to $80.00 and set an “outperform” rating for the company in a research note on Friday, October 17th. One 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $79.94.

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.