Corteva, Inc. $CTVA Shares Purchased by Bleakley Financial Group LLC

Bleakley Financial Group LLC increased its holdings in Corteva, Inc. (NYSE:CTVA) by 21.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,635 shares of the company’s stock after buying an additional 2,754 shares during the quarter. Bleakley Financial Group LLC’s holdings in Corteva were worth $1,165,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Gladwyn Financial Advisors Inc. acquired a new position in Corteva in the 2nd quarter worth approximately $25,000. Maryland Capital Advisors Inc. acquired a new position in Corteva in the 2nd quarter worth approximately $29,000. Valley National Advisers Inc. increased its holdings in Corteva by 85.9% in the 1st 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 period. Richardson Capital Management LLC acquired a new position in Corteva in the 1st quarter worth approximately $37,000. Finally, DHJJ Financial Advisors Ltd. increased its holdings in Corteva by 132.2% in the 2nd 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 period. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Trading Up 0.2%

Shares of NYSE:CTVA opened at $63.63 on Friday. Corteva, Inc. has a 1 year low of $53.40 and a 1 year high of $77.41. The firm has a market capitalization of $43.21 billion, a price-to-earnings ratio of 31.04, a price-to-earnings-growth ratio of 1.46 and a beta of 0.76. 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 business’s 50 day moving average price is $68.53 and its 200-day moving average price is $69.13.

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

Corteva Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Tuesday, September 2nd. This is an increase from Corteva’s previous quarterly dividend of $0.17. Corteva’s payout ratio is 35.12%.

Analyst Ratings Changes

Several brokerages recently weighed in on CTVA. Weiss Ratings reiterated a “hold (c+)” rating on shares of Corteva in a report on Friday. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Corteva from $83.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, September 15th. KeyCorp reaffirmed a “sector weight” rating on shares of Corteva in a report on Friday, October 3rd. Jefferies Financial Group decreased their price objective on shares of Corteva from $92.00 to $85.00 in a research report on Thursday, October 2nd. Finally, Citigroup cut Corteva from a “buy” rating to a “neutral” rating and dropped their target price for the company from $83.00 to $70.00 in a research report on Thursday, October 2nd. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Corteva presently has an average rating of “Moderate Buy” and an average target price of $79.94.

Insiders Place Their Bets

In other Corteva news, EVP Robert D. King sold 37,280 shares of the firm’s stock in a transaction 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 approximately $3,655,240.40. This trade represents a 43.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.14% of the company’s stock.

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.