Savant Capital LLC Grows Stock Holdings in Corteva, Inc. $CTVA

Savant Capital LLC increased its position in shares of Corteva, Inc. (NYSE:CTVA) by 20.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,711 shares of the company’s stock after acquiring an additional 3,548 shares during the period. Savant Capital LLC’s holdings in Corteva were worth $1,544,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CTVA. Vanguard Group Inc. increased its stake in Corteva by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 79,814,646 shares of the company’s stock worth $5,022,736,000 after buying an additional 639,799 shares during the period. Independent Franchise Partners LLP grew its stake in shares of Corteva by 1.8% in the first quarter. Independent Franchise Partners LLP now owns 16,785,300 shares of the company’s stock worth $1,056,299,000 after acquiring an additional 288,792 shares in the last quarter. Northern Trust Corp increased its position in shares of Corteva by 1.0% during the first quarter. Northern Trust Corp now owns 11,759,755 shares of the company’s stock worth $740,041,000 after acquiring an additional 110,865 shares during the period. Nuveen LLC acquired a new stake in shares of Corteva in the first quarter valued at $640,333,000. Finally, WCM Investment Management LLC boosted its holdings in Corteva by 29.6% in the second quarter. WCM Investment Management LLC now owns 9,044,706 shares of the company’s stock valued at $672,836,000 after purchasing an additional 2,066,519 shares during the period. 81.54% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Wells Fargo & Company cut their price target on Corteva from $80.00 to $77.00 and set an “overweight” rating on the stock in a report on Tuesday. UBS Group reduced their target price on shares of Corteva from $85.00 to $81.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. Weiss Ratings downgraded shares of Corteva from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. The Goldman Sachs Group dropped their price objective on shares of Corteva from $85.00 to $77.00 and set a “buy” rating on the stock in a research report on Wednesday, October 22nd. Finally, 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. Fifteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $79.18.

Insiders Place Their Bets

In other Corteva news, EVP Robert D. King sold 37,280 shares of the business’s stock in a transaction that occurred 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 owned 49,262 shares in the company, valued at approximately $3,655,240.40. The trade was a 43.08% decrease in their ownership of the stock. The sale 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 Trading Up 0.3%

NYSE CTVA opened at $65.73 on Wednesday. The firm’s fifty day moving average price is $66.07 and its 200 day moving average price is $69.56. Corteva, Inc. has a 12 month low of $53.40 and a 12 month high of $77.41. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.58 and a quick ratio of 1.07. The company has a market capitalization of $44.42 billion, a price-to-earnings ratio of 28.09, a price-to-earnings-growth ratio of 1.49 and a beta of 0.81.

Corteva (NYSE:CTVA) last released its quarterly earnings data 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. Corteva had a net margin of 9.19% and a return on equity of 9.37%. The company had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter in the prior year, the firm posted ($0.49) earnings per share. Corteva’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, sell-side analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Dividend Announcement

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

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.