Cambridge Investment Research Advisors Inc. Lowers Holdings in Corteva, Inc. (NYSE:CTVA)

Cambridge Investment Research Advisors Inc. decreased its position in Corteva, Inc. (NYSE:CTVAFree Report) by 3.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 49,444 shares of the company’s stock after selling 1,805 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Corteva were worth $2,369,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of CTVA. Norges Bank purchased a new stake in shares of Corteva in the fourth quarter valued at approximately $265,298,000. Harris Associates L P purchased a new stake in shares of Corteva in the third quarter valued at approximately $246,423,000. Van ECK Associates Corp boosted its holdings in shares of Corteva by 78.7% in the third quarter. Van ECK Associates Corp now owns 7,645,091 shares of the company’s stock valued at $391,123,000 after purchasing an additional 3,366,106 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Corteva by 29.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 11,095,076 shares of the company’s stock valued at $567,624,000 after purchasing an additional 2,545,570 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Corteva by 2.4% in the third quarter. Vanguard Group Inc. now owns 81,346,924 shares of the company’s stock valued at $4,161,709,000 after purchasing an additional 1,941,323 shares during the period. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Price Performance

NYSE CTVA opened at $55.94 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.51 and a quick ratio of 0.97. The stock’s fifty day moving average price is $56.06 and its 200 day moving average price is $51.82. Corteva, Inc. has a 1 year low of $43.22 and a 1 year high of $58.81. The company has a market cap of $38.99 billion, a price-to-earnings ratio of 70.81, a PEG ratio of 1.48 and a beta of 0.78.

Corteva (NYSE:CTVAGet Free Report) last released its earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.10. Corteva had a return on equity of 6.68% and a net margin of 3.32%. The firm had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.65 billion. During the same period in the prior year, the firm earned $1.16 EPS. The firm’s revenue was down 8.0% on a year-over-year basis. As a group, equities research analysts forecast that Corteva, Inc. will post 2.82 earnings per share for the current year.

Corteva Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend is Tuesday, June 4th. Corteva’s payout ratio is 81.01%.

Insider Buying and Selling at Corteva

In other Corteva news, insider Samuel R. Eathington sold 31,686 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $57.64, for a total value of $1,826,381.04. Following the sale, the insider now directly owns 53,854 shares of the company’s stock, valued at $3,104,144.56. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Brian Titus sold 12,134 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $56.65, for a total transaction of $687,391.10. Following the sale, the insider now directly owns 13,495 shares of the company’s stock, valued at approximately $764,491.75. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Samuel R. Eathington sold 31,686 shares of the stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $57.64, for a total transaction of $1,826,381.04. Following the sale, the insider now directly owns 53,854 shares in the company, valued at $3,104,144.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 83,556 shares of company stock valued at $4,795,016. 0.14% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CTVA. Barclays boosted their price objective on shares of Corteva from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 10th. Royal Bank of Canada boosted their price objective on shares of Corteva from $62.00 to $64.00 and gave the stock an “outperform” rating in a research note on Monday, May 6th. Oppenheimer boosted their price objective on shares of Corteva from $67.00 to $69.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. KeyCorp boosted their price objective on shares of Corteva from $63.00 to $66.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 9th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $57.00 price objective (down previously from $58.00) on shares of Corteva in a research note on Friday, April 12th. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $63.05.

Check Out Our Latest Stock Analysis on CTVA

Corteva Profile

(Free Report)

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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Institutional Ownership by Quarter for Corteva (NYSE:CTVA)

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