Logan Capital Management Inc. Sells 599 Shares of Corteva, Inc. $CTVA

Logan Capital Management Inc. trimmed its position in Corteva, Inc. (NYSE:CTVA) by 3.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 17,648 shares of the company’s stock after selling 599 shares during the quarter. Logan Capital Management Inc.’s holdings in Corteva were worth $1,315,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Gladwyn Financial Advisors Inc. bought a new stake in shares of Corteva in the 2nd quarter valued at about $25,000. Curat Global LLC raised its holdings in shares of Corteva by 93.7% in the 2nd quarter. Curat Global LLC now owns 370 shares of the company’s stock valued at $28,000 after purchasing an additional 179 shares during the period. Maryland Capital Advisors Inc. bought a new stake in shares of Corteva in the 2nd quarter valued at about $29,000. Princeton Global Asset Management LLC raised its holdings in shares of Corteva by 61.5% in the 2nd quarter. Princeton Global Asset Management LLC now owns 525 shares of the company’s stock valued at $39,000 after purchasing an additional 200 shares during the period. Finally, Valley National Advisers Inc. raised its holdings in shares of Corteva by 85.9% in the 1st quarter. Valley National Advisers Inc. now owns 526 shares of the company’s stock valued at $33,000 after purchasing an additional 243 shares during the period. 81.54% of the stock is owned by institutional investors.

Insider Activity

In other Corteva news, EVP Robert D. King sold 37,280 shares of the 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 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.15% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company dropped their target price on shares of Corteva from $83.00 to $80.00 and set an “overweight” rating on the stock in a report on Thursday, October 16th. Deutsche Bank Aktiengesellschaft upped 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. Weiss Ratings lowered shares of Corteva from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. Jefferies Financial Group decreased their price target on shares of Corteva from $92.00 to $85.00 in a research note on Thursday, October 2nd. Finally, Royal Bank Of Canada decreased their price target on shares of Corteva from $86.00 to $80.00 and set an “outperform” rating on the stock in a research note on Friday, October 17th. 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $79.94.

Corteva Stock Performance

Shares of NYSE:CTVA opened at $63.48 on Wednesday. The company’s 50 day moving average price is $68.18 and its two-hundred day moving average price is $69.28. Corteva, Inc. has a 12-month low of $53.40 and a 12-month high of $77.41. The firm has a market cap of $43.11 billion, a PE ratio of 30.96, a PEG ratio of 1.46 and a beta of 0.76. 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 (NYSE:CTVA) last announced its 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. Corteva had a net margin of 8.16% and a return on equity of 8.68%. The firm had revenue of $6.46 billion for the quarter, compared to analyst estimates of $6.26 billion. During the same quarter in the prior year, the business posted $1.83 EPS. The business’s revenue was up 5.6% compared to the same quarter last year. Equities research analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Company 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.