Ensign Peak Advisors Inc Decreases Stake in Corteva, Inc. (NYSE:CTVA)

Ensign Peak Advisors Inc lowered its position in shares of Corteva, Inc. (NYSE:CTVA – Get Rating) by 23.8% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 19,653 shares of the company’s stock after selling 6,155 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Corteva were worth $1,123,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Baron Silver Stevens Financial Advisors LLC purchased a new position in Corteva in the 3rd quarter worth approximately $313,000. Householder Group Estate & Retirement Specialist LLC purchased a new position in Corteva in the 3rd quarter worth approximately $28,000. Kathleen S. Wright Associates Inc. purchased a new position in Corteva in the 3rd quarter worth approximately $29,000. JFS Wealth Advisors LLC raised its position in shares of Corteva by 60.5% in the 3rd quarter. JFS Wealth Advisors LLC now owns 568 shares of the company’s stock valued at $32,000 after purchasing an additional 214 shares in the last quarter. Finally, Carolinas Wealth Consulting LLC raised its position in shares of Corteva by 454.5% in the 1st quarter. Carolinas Wealth Consulting LLC now owns 610 shares of the company’s stock valued at $35,000 after purchasing an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 79.45% of the company’s stock.

Insider Transactions at Corteva

In other Corteva news, CEO Charles V. Magro purchased 40,000 shares of the firm’s stock in a transaction dated Monday, February 6th. The stock was bought at an average price of $60.64 per share, with a total value of $2,425,600.00. Following the completion of the purchase, the chief executive officer now owns 126,095 shares in the company, valued at approximately $7,646,400.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

CTVA has been the topic of a number of recent analyst reports. Mizuho upped their target price on Corteva from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Thursday, January 12th. Wells Fargo & Company cut their target price on Corteva from $78.00 to $77.00 and set an “overweight” rating on the stock in a research report on Friday, February 3rd. Citigroup upped their target price on Corteva from $72.00 to $74.00 and gave the company a “buy” rating in a research report on Friday, February 3rd. Loop Capital lowered Corteva from a “buy” rating to a “hold” rating and upped their target price for the company from $70.00 to $71.00 in a research report on Tuesday, November 15th. Finally, Bank of America raised Corteva from an “underperform” rating to a “neutral” rating and upped their price target for the company from $64.00 to $68.00 in a research report on Wednesday, January 11th. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Corteva currently has a consensus rating of “Moderate Buy” and an average price target of $72.53.

Corteva Price Performance

Shares of NYSE CTVA opened at $58.89 on Friday. Corteva, Inc. has a 1-year low of $50.03 and a 1-year high of $68.43. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.56 and a quick ratio of 0.93. The business’s fifty day moving average price is $61.98 and its two-hundred day moving average price is $62.33. The firm has a market capitalization of $41.98 billion, a PE ratio of 37.51, a P/E/G ratio of 1.45 and a beta of 0.80.

Corteva (NYSE:CTVA – Get Rating) last issued its earnings results on Thursday, February 2nd. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.10. Corteva had a return on equity of 7.54% and a net margin of 6.57%. The firm had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.79 billion. During the same period last year, the company earned $0.08 earnings per share. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. On average, research analysts expect that Corteva, Inc. will post 2.89 EPS for the current year.

Corteva Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 1st will be paid a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, February 28th. This represents a $0.60 annualized dividend and a dividend yield of 1.02%. Corteva’s payout ratio is 38.22%.

Corteva Company Profile

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Corteva, Inc engages in the provision of seed and crop protection solutions, which focus on the agriculture industry and contributing to food supply. It operates through the Seed and Crop Protection segments. The Seed segment is involved in developing and supplying advanced germplasm and traits that produce yield for farms.