Wealth Enhancement Advisory Services LLC Increases Stake in Corteva, Inc. $CTVA

Wealth Enhancement Advisory Services LLC grew its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 8.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 151,500 shares of the company’s stock after purchasing an additional 11,295 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Corteva were worth $9,940,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Brighton Jones LLC boosted its position in shares of Corteva by 307.2% during the 4th quarter. Brighton Jones LLC now owns 15,588 shares of the company’s stock valued at $888,000 after acquiring an additional 11,760 shares during the last quarter. Woodline Partners LP lifted its holdings in shares of Corteva by 40.3% during the 1st quarter. Woodline Partners LP now owns 57,919 shares of the company’s stock worth $3,645,000 after acquiring an additional 16,644 shares during the last quarter. Farther Finance Advisors LLC grew its position in Corteva by 20.4% in the second quarter. Farther Finance Advisors LLC now owns 5,282 shares of the company’s stock worth $394,000 after acquiring an additional 895 shares in the last quarter. U.S. Capital Wealth Advisors LLC bought a new position in Corteva in the second quarter valued at $233,000. Finally, Sheets Smith Wealth Management purchased a new stake in Corteva during the second quarter valued at about $207,000. Institutional investors own 81.54% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on CTVA. Royal Bank Of Canada lowered their target price on Corteva from $86.00 to $80.00 and set an “outperform” rating for the company in a research note on Friday, October 17th. Jefferies Financial Group reduced their price target on Corteva from $92.00 to $85.00 in a report on Thursday, October 2nd. Wells Fargo & Company decreased their target price on Corteva from $80.00 to $77.00 and set an “overweight” rating for the company in a report on Tuesday, November 11th. Wall Street Zen raised shares of Corteva from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th. Finally, BNP Paribas Exane raised their target price on shares of Corteva from $70.00 to $72.00 and gave the stock a “neutral” rating in a research report on Monday, November 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, Corteva presently has an average rating of “Moderate Buy” and a consensus target price of $79.47.

Corteva Stock Performance

Shares of CTVA opened at $71.68 on Friday. Corteva, Inc. has a 52 week low of $53.40 and a 52 week high of $77.41. The stock has a market cap of $48.44 billion, a price-to-earnings ratio of 30.63, a PEG ratio of 1.82 and a beta of 0.74. The business has a 50-day simple moving average of $67.26 and a two-hundred day simple moving average of $68.46. The company has a quick ratio of 1.07, a current ratio of 1.58 and a debt-to-equity ratio of 0.07.

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

Corteva Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.0%. Corteva’s dividend payout ratio (DPR) is 30.77%.

About Corteva

Corteva, Inc (NYSE: CTVA) is an independent global agriculture company that was established as a publicly traded firm in mid‑2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva’s operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.

Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.