Corteva, Inc. $CTVA Stock Holdings Increased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC raised its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 3.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 140,205 shares of the company’s stock after acquiring an additional 4,077 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Corteva were worth $10,813,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Atticus Wealth Management LLC raised its stake in Corteva by 10.1% during the 2nd quarter. Atticus Wealth Management LLC now owns 2,385 shares of the company’s stock valued at $178,000 after acquiring an additional 219 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Corteva by 1.6% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 84,608 shares of the company’s stock worth $6,306,000 after acquiring an additional 1,366 shares during the last quarter. Focus Financial Network Inc. grew its holdings in shares of Corteva by 8.2% in the 2nd quarter. Focus Financial Network Inc. now owns 5,112 shares of the company’s stock worth $381,000 after acquiring an additional 386 shares during the last quarter. Radnor Capital Management LLC grew its holdings in shares of Corteva by 2.6% during the second quarter. Radnor Capital Management LLC now owns 26,495 shares of the company’s stock valued at $1,975,000 after buying an additional 675 shares in the last quarter. Finally, Chesley Taft & Associates LLC grew its holdings in shares of Corteva by 6.3% during the second quarter. Chesley Taft & Associates LLC now owns 35,540 shares of the company’s stock valued at $2,649,000 after buying an additional 2,100 shares in the last quarter. Institutional investors own 81.54% of the company’s stock.

Wall Street Analyst Weigh In

CTVA has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft boosted their target price on Corteva from $83.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, September 15th. Oppenheimer set a $87.00 price objective on Corteva and gave the stock an “outperform” rating in a research report on Tuesday, July 15th. Barclays raised Corteva from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $75.00 to $84.00 in a research report on Wednesday, August 13th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $83.00 price target (up previously from $82.00) on shares of Corteva in a report on Friday, August 8th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of Corteva in a research note on Monday, August 11th. Thirteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $82.00.

Corteva Stock Performance

Shares of Corteva stock opened at $69.85 on Tuesday. The stock’s fifty day simple moving average is $72.46 and its 200 day simple moving average is $68.58. Corteva, Inc. has a 12 month low of $53.40 and a 12 month high of $77.41. The company has a market capitalization of $47.44 billion, a PE ratio of 34.07, a PEG ratio of 1.62 and a beta of 0.78. The company has a current ratio of 1.68, a quick ratio of 1.23 and a debt-to-equity ratio of 0.06.

Corteva (NYSE:CTVA) last released its quarterly earnings results on Wednesday, August 6th. The company reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.31. Corteva had a return on equity of 8.68% and a net margin of 8.16%.The firm had revenue of $6.46 billion for the quarter, compared to the consensus estimate of $6.26 billion. During the same quarter last year, the business posted $1.83 EPS. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, research analysts predict that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Increases Dividend

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

Insider Buying and Selling at Corteva

In other news, EVP Robert D. King sold 37,280 shares of the firm’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $74.20, for a total value of $2,766,176.00. Following the completion of the transaction, the executive vice president owned 49,262 shares in the company, valued at $3,655,240.40. This trade represents a 43.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.15% of the stock is owned by insiders.

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.