Allspring Global Investments Holdings LLC decreased its position in Corteva, Inc. (NYSE:CTVA – Free Report) by 10.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,877 shares of the company’s stock after selling 5,554 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Corteva were worth $2,743,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of the company. Kingsview Wealth Management LLC increased its stake in Corteva by 2.0% in the 3rd quarter. Kingsview Wealth Management LLC now owns 7,660 shares of the company’s stock worth $438,000 after purchasing an additional 153 shares during the period. Mastrapasqua Asset Management Inc. increased its stake in Corteva by 0.7% in the 1st quarter. Mastrapasqua Asset Management Inc. now owns 23,892 shares of the company’s stock worth $1,441,000 after purchasing an additional 175 shares during the period. Lindbrook Capital LLC increased its stake in Corteva by 7.1% in the 1st quarter. Lindbrook Capital LLC now owns 2,705 shares of the company’s stock worth $163,000 after purchasing an additional 179 shares during the period. Centaurus Financial Inc. increased its stake in Corteva by 4.9% in the 1st quarter. Centaurus Financial Inc. now owns 3,867 shares of the company’s stock worth $233,000 after purchasing an additional 182 shares during the period. Finally, FineMark National Bank & Trust increased its stake in Corteva by 2.8% in the 1st quarter. FineMark National Bank & Trust now owns 6,937 shares of the company’s stock worth $418,000 after purchasing an additional 192 shares during the period. Institutional investors own 80.56% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on CTVA shares. Barclays decreased their price target on Corteva from $70.00 to $67.00 and set an “overweight” rating on the stock in a research note on Monday, August 14th. Royal Bank of Canada reduced their target price on Corteva from $67.00 to $61.00 and set an “outperform” rating on the stock in a research note on Monday, October 30th. Credit Suisse Group reissued an “outperform” rating and set a $74.00 target price on shares of Corteva in a research note on Friday, August 4th. The Goldman Sachs Group reduced their target price on Corteva from $65.00 to $56.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 24th. Finally, Argus reduced their target price on Corteva from $78.00 to $68.00 and set a “buy” rating on the stock in a research note on Thursday, August 17th. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $68.16.
Corteva Trading Up 1.4 %
Corteva stock opened at $50.23 on Monday. The company has a current ratio of 1.66, a quick ratio of 1.12 and a debt-to-equity ratio of 0.09. The business’s fifty day simple moving average is $50.41 and its two-hundred day simple moving average is $54.14. Corteva, Inc. has a 12 month low of $47.21 and a 12 month high of $68.10. The company has a market capitalization of $35.65 billion, a price-to-earnings ratio of 38.94, a price-to-earnings-growth ratio of 1.42 and a beta of 0.80.
Corteva (NYSE:CTVA – Get Free Report) last released its earnings results on Friday, August 4th. The company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.58 by $0.02. Corteva had a return on equity of 7.78% and a net margin of 5.26%. The business had revenue of $6.05 billion for the quarter, compared to the consensus estimate of $6.44 billion. During the same period in the previous year, the company posted $1.64 earnings per share. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. As a group, equities analysts predict that Corteva, Inc. will post 2.59 earnings per share for the current fiscal year.
Corteva Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.27%. The ex-dividend date is Thursday, November 30th. Corteva’s dividend payout ratio (DPR) is 49.61%.
Insiders Place Their Bets
In other Corteva news, CFO David J. Anderson purchased 2,000 shares of the stock in a transaction dated Friday, September 15th. The shares were purchased at an average cost of $52.97 per share, with a total value of $105,940.00. Following the completion of the acquisition, the chief financial officer now directly owns 65,308 shares in the company, valued at approximately $3,459,364.76. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.14% of the company’s stock.
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.
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