Transcend Capital Advisors LLC Reduces Holdings in Corteva, Inc. $CTVA

Transcend Capital Advisors LLC trimmed its position in shares of Corteva, Inc. (NYSE:CTVA) by 29.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,061 shares of the company’s stock after selling 3,424 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Corteva were worth $601,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Gladwyn Financial Advisors Inc. purchased a new stake in shares of Corteva during the second quarter worth approximately $25,000. Curat Global LLC boosted its stake in Corteva by 93.7% during the second quarter. Curat Global LLC now owns 370 shares of the company’s stock worth $28,000 after buying an additional 179 shares during the last quarter. Maryland Capital Advisors Inc. acquired a new position in Corteva during the second quarter worth $29,000. Princeton Global Asset Management LLC boosted its stake in Corteva by 61.5% during the second quarter. Princeton Global Asset Management LLC now owns 525 shares of the company’s stock worth $39,000 after buying an additional 200 shares during the last quarter. Finally, Valley National Advisers Inc. boosted 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. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Corteva Stock Performance

Shares of Corteva stock opened at $63.48 on Wednesday. Corteva, Inc. has a 52 week low of $53.40 and a 52 week high of $77.41. The business’s fifty day simple moving average is $68.18 and its 200-day simple moving average is $69.28. The firm has a market cap of $43.11 billion, a PE ratio of 30.96, a price-to-earnings-growth 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 posted 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. The firm had revenue of $6.46 billion for the quarter, compared to the consensus estimate of $6.26 billion. Corteva had a return on equity of 8.68% and a net margin of 8.16%.The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.83 EPS. Equities analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CTVA. Jefferies Financial Group lowered their price objective on Corteva from $92.00 to $85.00 in a research note on Thursday, October 2nd. KeyCorp reissued a “sector weight” rating on shares of Corteva in a research note on Friday, October 3rd. UBS Group decreased their price target on Corteva from $91.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday, October 6th. Oppenheimer decreased their price target on Corteva from $87.00 to $75.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 22nd. Finally, BMO Capital Markets set a $86.00 price target on Corteva in a research note on Monday, September 15th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $79.94.

Insider Activity

In related news, EVP Robert D. King sold 37,280 shares of the business’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 sale, the executive vice president owned 49,262 shares in the company, valued at approximately $3,655,240.40. The trade was a 43.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.15% of the company’s stock.

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.