Avantax Advisory Services Inc. Boosts Stock Position in Corteva, Inc. $CTVA

Avantax Advisory Services Inc. grew its position in shares of Corteva, Inc. (NYSE:CTVA) by 23.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,674 shares of the company’s stock after purchasing an additional 4,853 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Corteva were worth $1,913,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of CTVA. Brighton Jones LLC raised its stake in shares of Corteva by 307.2% during the fourth quarter. Brighton Jones LLC now owns 15,588 shares of the company’s stock worth $888,000 after acquiring an additional 11,760 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of Corteva by 90.9% during the 1st quarter. IFP Advisors Inc now owns 10,353 shares of the company’s stock valued at $652,000 after purchasing an additional 4,930 shares during the last quarter. Allianz Asset Management GmbH raised its position in Corteva by 49.2% in the 1st quarter. Allianz Asset Management GmbH now owns 124,869 shares of the company’s stock worth $7,858,000 after purchasing an additional 41,203 shares during the period. Venturi Wealth Management LLC lifted its stake in Corteva by 9.7% in the first quarter. Venturi Wealth Management LLC now owns 7,381 shares of the company’s stock worth $464,000 after purchasing an additional 650 shares during the last quarter. Finally, Wedbush Securities Inc. boosted its position in Corteva by 11.3% during the first quarter. Wedbush Securities Inc. now owns 4,704 shares of the company’s stock valued at $296,000 after buying an additional 476 shares during the period. Institutional investors own 81.54% of the company’s stock.

Corteva Stock Performance

Shares of CTVA opened at $65.55 on Friday. The company has a 50-day simple moving average of $64.86 and a two-hundred day simple moving average of $69.63. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.58 and a quick ratio of 1.07. The firm has a market capitalization of $44.29 billion, a PE ratio of 28.01, a price-to-earnings-growth ratio of 1.46 and a beta of 0.81. Corteva, Inc. has a one year low of $53.40 and a one year high of $77.41.

Corteva (NYSE:CTVA) last announced its earnings results on Tuesday, November 4th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.26. The firm had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.47 billion. Corteva had a return on equity of 9.37% and a net margin of 9.19%.The business’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.49) EPS. On average, analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $0.72 annualized dividend and a yield of 1.1%. Corteva’s dividend payout ratio (DPR) is currently 30.77%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. The Goldman Sachs Group decreased their price objective on Corteva from $85.00 to $77.00 and set a “buy” rating on the stock in a report on Wednesday, October 22nd. UBS Group reduced their price target on Corteva from $85.00 to $81.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. BMO Capital Markets set a $86.00 price objective on Corteva in a research report on Monday, September 15th. Weiss Ratings reissued a “hold (c)” rating on shares of Corteva in a research note on Wednesday. Finally, Zacks Research downgraded shares of Corteva from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 30th. Fifteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $78.05.

Insider Activity at Corteva

In other news, EVP Robert D. King sold 37,280 shares of the business’s stock in a transaction on Friday, August 29th. The shares were 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 in the company, valued at approximately $3,655,240.40. The trade was a 43.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company 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.