Strong Tower Advisory Services boosted its position in Corteva, Inc. (NYSE:CTVA – Free Report) by 4.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 42,148 shares of the company’s stock after purchasing an additional 1,840 shares during the period. Strong Tower Advisory Services’ holdings in Corteva were worth $3,141,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. Maryland Capital Advisors Inc. acquired a new stake in Corteva in the 2nd quarter valued at about $29,000. Valley National Advisers Inc. lifted its position 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 acquiring an additional 243 shares during the last quarter. DHJJ Financial Advisors Ltd. lifted its position in Corteva by 132.2% during the second quarter. DHJJ Financial Advisors Ltd. now owns 527 shares of the company’s stock worth $39,000 after acquiring an additional 300 shares during the last quarter. Richardson Capital Management LLC acquired a new stake in Corteva during the first quarter worth approximately $37,000. Finally, von Borstel & Associates Inc. acquired a new stake in Corteva during the first quarter worth approximately $44,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities research analysts have issued reports on CTVA shares. BMO Capital Markets set a $86.00 price objective on shares of Corteva in a research report on Monday, September 15th. Wells Fargo & Company restated an “overweight” rating and set a $83.00 price objective (up from $82.00) on shares of Corteva in a research report on Friday, August 8th. Citigroup downgraded shares of Corteva from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $83.00 to $70.00 in a research report on Thursday, October 2nd. UBS Group lowered their target price on shares of Corteva from $91.00 to $85.00 and set a “buy” rating on the stock in a report on Monday. Finally, Weiss Ratings cut shares of Corteva from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday. One 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. Based on data from MarketBeat, Corteva currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.13.
Insiders Place Their Bets
In other Corteva news, EVP Robert D. King sold 37,280 shares of the business’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the sale, the executive vice president owned 49,262 shares of the company’s stock, valued at approximately $3,655,240.40. The trade was a 43.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.14% of the stock is owned by insiders.
Corteva Stock Down 1.4%
NYSE CTVA opened at $61.90 on Friday. The business has a fifty day moving average price of $70.38 and a two-hundred day moving average price of $68.91. 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, Inc. has a fifty-two week low of $53.40 and a fifty-two week high of $77.41. The stock has a market capitalization of $42.04 billion, a PE ratio of 30.20, a PEG ratio of 1.42 and a beta of 0.76.
Corteva (NYSE:CTVA – Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.31. Corteva had a return on equity of 8.68% and a net margin of 8.16%.The firm had revenue of $6.46 billion during the quarter, compared to analysts’ expectations of $6.26 billion. During the same period in the prior year, the company earned $1.83 earnings per share. The company’s quarterly revenue was up 5.6% on a year-over-year basis. Equities analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.
Corteva Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were paid a dividend of $0.18 per share. The ex-dividend date was Tuesday, September 2nd. This is a boost from Corteva’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 1.2%. Corteva’s dividend payout ratio is currently 35.12%.
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.
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