Miller Financial Services LLC Purchases Shares of 2,702 Corteva, Inc. $CTVA

Miller Financial Services LLC acquired a new stake in Corteva, Inc. (NYSE:CTVA) in the second quarter, HoldingsChannel reports. The fund acquired 2,702 shares of the company’s stock, valued at approximately $201,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Gladwyn Financial Advisors Inc. bought a new position in Corteva during the second quarter worth about $25,000. Curat Global LLC increased its holdings in shares of Corteva by 93.7% during the 2nd quarter. Curat Global LLC now owns 370 shares of the company’s stock worth $28,000 after acquiring an additional 179 shares during the last quarter. Maryland Capital Advisors Inc. acquired a new position in shares of Corteva during the 2nd quarter worth approximately $29,000. DHJJ Financial Advisors Ltd. lifted 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 purchasing an additional 300 shares during the last quarter. Finally, Princeton Global Asset Management LLC boosted its position 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 purchasing an additional 200 shares during the period. 81.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CTVA has been the topic of several research analyst reports. Oppenheimer reissued an “outperform” rating and issued a $76.00 price objective on shares of Corteva in a research report on Friday, November 7th. Barclays raised shares of Corteva from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $75.00 to $84.00 in a report on Wednesday, August 13th. BNP Paribas Exane boosted their price objective on Corteva from $70.00 to $72.00 and gave the stock a “neutral” rating in a report on Monday. Deutsche Bank Aktiengesellschaft decreased their target price on Corteva from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Thursday, November 6th. Finally, Morgan Stanley set a $84.00 price target on Corteva in a report on Monday, September 15th. Fifteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, Corteva has an average rating of “Moderate Buy” and a consensus target price of $78.05.

Insider Buying and Selling

In other news, EVP Robert D. King sold 37,280 shares of the 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 completion of the transaction, the executive vice president owned 49,262 shares of the company’s stock, valued at approximately $3,655,240.40. This represents a 43.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.14% of the company’s stock.

Corteva Trading Up 0.2%

Shares of CTVA stock opened at $64.63 on Thursday. The stock has a 50 day simple moving average of $65.22 and a 200 day simple moving average of $69.64. Corteva, Inc. has a 1 year low of $53.40 and a 1 year high of $77.41. The company has a current ratio of 1.58, a quick ratio of 1.07 and a debt-to-equity ratio of 0.07. The stock has a market cap of $43.67 billion, a P/E ratio of 27.62, a price-to-earnings-growth ratio of 1.46 and a beta of 0.81.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Tuesday, November 4th. The company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.26. The firm had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.47 billion. Corteva had a return on equity of 9.37% and a net margin of 9.19%.The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.49) EPS. On average, research analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Announces Dividend

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

Corteva 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.