Corteva, Inc. $CTVA Position Increased by Farther Finance Advisors LLC

Farther Finance Advisors LLC boosted its position in shares of Corteva, Inc. (NYSE:CTVA) by 20.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,282 shares of the company’s stock after purchasing an additional 895 shares during the period. Farther Finance Advisors LLC’s holdings in Corteva were worth $394,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CTVA. Valley National Advisers Inc. raised its position in shares of Corteva by 85.9% in the first quarter. Valley National Advisers Inc. now owns 526 shares of the company’s stock valued at $33,000 after purchasing an additional 243 shares during the period. Richardson Capital Management LLC bought a new stake in shares of Corteva in the first quarter valued at about $37,000. von Borstel & Associates Inc. acquired a new position in shares of Corteva in the 1st quarter valued at $44,000. Horizon Financial Services LLC raised its position in Corteva by 4,444.4% in the first quarter. Horizon Financial Services LLC now owns 818 shares of the company’s stock worth $51,000 after purchasing an additional 800 shares in the last quarter. Finally, Zions Bancorporation National Association UT bought a new position in Corteva during the first quarter worth about $52,000. Institutional investors own 81.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Citigroup downgraded Corteva from a “neutral” rating to a “mixed” rating in a report on Friday, September 5th. Barclays upgraded Corteva from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $75.00 to $84.00 in a research report on Wednesday, August 13th. Zacks Research raised shares of Corteva to a “hold” rating in a research note on Friday, August 8th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Corteva from $83.00 to $90.00 and gave the company a “buy” rating in a report on Monday, September 15th. Finally, Wall Street Zen upgraded shares of Corteva from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Thirteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Corteva currently has an average rating of “Moderate Buy” and a consensus price target of $82.00.

Corteva Stock Performance

NYSE CTVA opened at $68.06 on Monday. The firm’s fifty day moving average price is $72.11 and its two-hundred day moving average price is $68.84. The firm has a market capitalization of $46.22 billion, a P/E ratio of 33.20, a price-to-earnings-growth ratio of 1.56 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, Inc. has a 1 year low of $53.40 and a 1 year high of $77.41.

Corteva (NYSE:CTVA) last announced its earnings results on Wednesday, August 6th. The company reported $2.20 EPS for the quarter, topping the consensus estimate of $1.89 by $0.31. The business had revenue of $6.46 billion during the quarter, compared to the consensus estimate of $6.26 billion. Corteva had a net margin of 8.16% and a return on equity of 8.68%. Corteva’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.83 EPS. As a group, research analysts anticipate 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 issued a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $0.72 dividend on an annualized basis and a yield of 1.1%. This is an increase from Corteva’s previous quarterly dividend of $0.17. Corteva’s payout ratio is presently 35.12%.

Insider Activity at Corteva

In related news, EVP Robert D. King sold 37,280 shares of the stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the sale, the executive vice president owned 49,262 shares of the company’s stock, valued at $3,655,240.40. This represents a 43.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.15% of the company’s stock.

About Corteva

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.