Ensign Peak Advisors Inc Reduces Holdings in Corteva, Inc. $CTVA

Ensign Peak Advisors Inc decreased its position in shares of Corteva, Inc. (NYSE:CTVA) by 4.7% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 273,688 shares of the company’s stock after selling 13,638 shares during the period. Ensign Peak Advisors Inc’s holdings in Corteva were worth $20,398,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the company. Gladwyn Financial Advisors Inc. bought a new position in Corteva during the 2nd quarter valued at about $25,000. Curat Global LLC boosted its position in shares of Corteva by 93.7% during the second quarter. Curat Global LLC now owns 370 shares of the company’s stock valued at $28,000 after buying an additional 179 shares during the period. Maryland Capital Advisors Inc. bought a new position in shares of Corteva during the second quarter valued at approximately $29,000. DHJJ Financial Advisors Ltd. grew its stake in shares of Corteva by 132.2% during the second quarter. DHJJ Financial Advisors Ltd. now owns 527 shares of the company’s stock valued at $39,000 after buying an additional 300 shares during the last quarter. Finally, 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. Institutional investors own 81.54% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Robert D. King sold 37,280 shares of the company’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the transaction, the executive vice president directly owned 49,262 shares of the company’s stock, valued at $3,655,240.40. This represents a 43.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.14% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CTVA has been the topic of several research analyst reports. Wells Fargo & Company cut their price objective on Corteva from $80.00 to $77.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 11th. JPMorgan Chase & Co. raised shares of Corteva from a “neutral” rating to an “overweight” rating and set a $67.00 target price for the company in a research note on Thursday, October 2nd. Wall Street Zen raised shares of Corteva from a “hold” rating to a “buy” rating in a research note on Sunday, November 16th. Citigroup lifted their price objective on shares of Corteva from $67.00 to $68.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Corteva from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Thursday, November 6th. Fifteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $78.05.

Corteva Stock Performance

CTVA stock opened at $65.55 on Friday. Corteva, Inc. has a one year low of $53.40 and a one year high of $77.41. The firm has a market cap of $44.29 billion, a price-to-earnings ratio of 28.01, a PEG ratio of 1.46 and a beta of 0.81. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.07 and a current ratio of 1.58. The firm has a 50-day simple moving average of $64.86 and a two-hundred day simple moving average of $69.63.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Tuesday, November 4th. The company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.26. The firm had revenue of $2.62 billion during 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 was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.49) EPS. On average, equities analysts forecast that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Announces Dividend

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

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.