Rovin Capital UT ADV Sells 3,032 Shares of Corteva, Inc. $CTVA

Rovin Capital UT ADV lessened its stake in Corteva, Inc. (NYSE:CTVA) by 32.9% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 6,180 shares of the company’s stock after selling 3,032 shares during the quarter. Rovin Capital UT ADV’s holdings in Corteva were worth $461,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Gladwyn Financial Advisors Inc. bought a new stake in shares of Corteva in the 2nd quarter worth about $25,000. Curat Global LLC grew its holdings in Corteva by 93.7% during 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 last quarter. Maryland Capital Advisors Inc. purchased a new stake in Corteva in the 2nd quarter worth about $29,000. Princeton Global Asset Management LLC raised its holdings in shares of Corteva by 61.5% in 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 period. Finally, DHJJ Financial Advisors Ltd. boosted its holdings in Corteva by 132.2% during 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 during the period. Institutional investors own 81.54% of the company’s stock.

Insider Transactions at Corteva

In related news, EVP Robert D. King sold 37,280 shares of the 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 completion of the sale, the executive vice president directly owned 49,262 shares of the company’s stock, valued at approximately $3,655,240.40. This represents a 43.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.14% of the company’s stock.

Corteva Stock Performance

Shares of CTVA stock opened at $63.00 on Friday. The business’s 50-day moving average price is $66.61 and its 200-day moving average price is $69.35. Corteva, Inc. has a 12 month low of $53.40 and a 12 month high of $77.41. The firm has a market capitalization of $42.79 billion, a price-to-earnings ratio of 26.92, a PEG ratio of 1.42 and a beta of 0.81. The company has a current ratio of 1.58, a quick ratio of 1.23 and a debt-to-equity ratio of 0.07.

Corteva (NYSE:CTVA) last released its earnings results on Tuesday, November 4th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.26. The business had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.47 billion. Corteva had a net margin of 9.19% and a return on equity of 9.37%. Corteva’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.49) earnings per share. Equities research analysts forecast that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be paid a $0.18 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $0.72 annualized dividend and a dividend yield of 1.1%. Corteva’s dividend payout ratio is 30.77%.

Analyst Ratings Changes

CTVA has been the subject of several research reports. Wells Fargo & Company lowered their price objective on shares of Corteva from $83.00 to $80.00 and set an “overweight” rating for the company in a research report on Thursday, October 16th. Wall Street Zen downgraded Corteva from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. KeyCorp reissued a “sector weight” rating on shares of Corteva in a research report on Friday, October 3rd. Citigroup downgraded shares of Corteva from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $83.00 to $70.00 in a research note on Thursday, October 2nd. Finally, Mizuho dropped their target price on Corteva from $85.00 to $78.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 8th. Fifteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Corteva currently has an average rating of “Moderate Buy” and a consensus price target of $79.65.

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.