Corteva, Inc. $CTVA Shares Bought by MassMutual Private Wealth & Trust FSB

MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 18.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,947 shares of the company’s stock after buying an additional 457 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Corteva were worth $220,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Cary Street Partners Financial LLC grew its position in Corteva by 20.7% during the 1st quarter. Cary Street Partners Financial LLC now owns 90,206 shares of the company’s stock worth $5,677,000 after purchasing an additional 15,448 shares in the last quarter. Peak Financial Advisors LLC acquired a new position in shares of Corteva during the second quarter valued at about $505,000. Goldman Sachs Group Inc. raised its position in Corteva by 28.6% in the first quarter. Goldman Sachs Group Inc. now owns 2,851,993 shares of the company’s stock worth $179,476,000 after purchasing an additional 634,938 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Corteva by 2.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,174,351 shares of the company’s stock worth $262,692,000 after buying an additional 84,506 shares during the last quarter. Finally, Allworth Financial LP boosted its holdings in shares of Corteva by 11.8% in the 1st quarter. Allworth Financial LP now owns 15,313 shares of the company’s stock worth $945,000 after acquiring an additional 1,614 shares in the last quarter. Institutional investors own 81.54% of the company’s stock.

Corteva Trading Up 0.1%

Shares of NYSE CTVA opened at $70.70 on Friday. Corteva, Inc. has a 52-week low of $53.40 and a 52-week high of $77.41. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.23 and a current ratio of 1.68. The firm has a 50 day moving average price of $72.57 and a two-hundred day moving average price of $68.34. The stock has a market cap of $48.01 billion, a P/E ratio of 34.49, a price-to-earnings-growth ratio of 1.62 and a beta of 0.78.

Corteva (NYSE:CTVA) last posted its quarterly earnings data 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. The company had revenue of $6.46 billion during the quarter, compared to analysts’ expectations of $6.26 billion. Corteva had a net margin of 8.16% and a return on equity of 8.68%. Corteva’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.83 earnings per share. As a group, equities analysts forecast that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.0%. This is a positive change from Corteva’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Tuesday, September 2nd. Corteva’s payout ratio is 35.12%.

Insider Buying and Selling at Corteva

In other Corteva news, EVP Robert D. King sold 37,280 shares of the firm’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $74.20, for a total value of $2,766,176.00. Following the transaction, the executive vice president directly owned 49,262 shares of the company’s stock, valued at approximately $3,655,240.40. This trade represents a 43.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on CTVA. Deutsche Bank Aktiengesellschaft increased their price target on shares of Corteva from $83.00 to $90.00 and gave the company a “buy” rating in a research note on Monday. BMO Capital Markets set a $86.00 target price on shares of Corteva in a research report on Monday. Barclays raised shares of Corteva from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $75.00 to $84.00 in a research report on Wednesday, August 13th. UBS Group lifted their price objective on shares of Corteva from $90.00 to $91.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Finally, Zacks Research raised shares of Corteva to a “hold” rating in a research report on Friday, August 8th. Thirteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Corteva presently has an average rating of “Moderate Buy” and a consensus price target of $82.00.

Corteva 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.