Heritage Investors Management Corp Sells 1,762 Shares of Corteva, Inc. $CTVA

Heritage Investors Management Corp trimmed its position in shares of Corteva, Inc. (NYSE:CTVA) by 2.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 77,905 shares of the company’s stock after selling 1,762 shares during the quarter. Heritage Investors Management Corp’s holdings in Corteva were worth $5,806,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Gladwyn Financial Advisors Inc. bought a new position in shares of Corteva during the second quarter worth $25,000. Curat Global LLC lifted its position in 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 acquiring an additional 179 shares in the last quarter. Maryland Capital Advisors Inc. bought a new stake in Corteva in the 2nd quarter valued at $29,000. Valley National Advisers Inc. lifted its position in 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 acquiring an additional 243 shares in the last quarter. Finally, DHJJ Financial Advisors Ltd. lifted its position in Corteva by 132.2% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 527 shares of the company’s stock valued at $39,000 after acquiring an additional 300 shares in the last quarter. 81.54% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Robert D. King sold 37,280 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president 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 Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CTVA shares. Wall Street Zen cut shares of Corteva from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Mizuho cut their price target on shares of Corteva from $85.00 to $78.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Corteva from $83.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, September 15th. Weiss Ratings cut shares of Corteva from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, October 8th. Finally, BMO Capital Markets set a $86.00 price objective on shares of Corteva in a research note on Monday, September 15th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Corteva currently has an average rating of “Moderate Buy” and an average target price of $79.94.

Corteva Stock Down 0.4%

Corteva stock opened at $63.18 on Thursday. Corteva, Inc. has a fifty-two week low of $53.40 and a fifty-two week high of $77.41. The firm has a market capitalization of $42.90 billion, a PE ratio of 30.82, a P/E/G ratio of 1.45 and a beta of 0.76. The company’s 50-day moving average is $67.99 and its 200-day moving average is $69.31. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.68 and a quick ratio of 1.23.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $2.20 EPS for the quarter, beating 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 business 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 earned $1.83 EPS. Corteva’s quarterly revenue was up 5.6% on a year-over-year basis. Sell-side analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current year.

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.