Envestnet Portfolio Solutions Inc. Has $2.35 Million Stake in Corteva, Inc. $CTVA

Envestnet Portfolio Solutions Inc. lowered its holdings in Corteva, Inc. (NYSE:CTVA) by 36.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 34,667 shares of the company’s stock after selling 20,076 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Corteva were worth $2,345,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Corteva by 0.5% during the second quarter. Vanguard Group Inc. now owns 80,188,326 shares of the company’s stock valued at $5,976,436,000 after buying an additional 373,680 shares during the last quarter. Geode Capital Management LLC boosted its stake in Corteva by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 18,047,263 shares of the company’s stock valued at $1,339,651,000 after purchasing an additional 251,693 shares during the last quarter. Franklin Resources Inc. increased its holdings in Corteva by 4.9% during the 2nd quarter. Franklin Resources Inc. now owns 17,680,238 shares of the company’s stock worth $1,317,708,000 after purchasing an additional 824,451 shares in the last quarter. WCM Investment Management LLC lifted its holdings in shares of Corteva by 29.6% in the second quarter. WCM Investment Management LLC now owns 9,044,706 shares of the company’s stock valued at $672,836,000 after purchasing an additional 2,066,519 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Corteva during the second quarter valued at approximately $434,220,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on CTVA. Zacks Research raised Corteva from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 22nd. Mizuho boosted their price target on shares of Corteva from $78.00 to $80.00 and gave the stock an “outperform” rating in a report on Friday, January 16th. The Goldman Sachs Group upped their price objective on shares of Corteva from $77.00 to $78.00 and gave the stock a “buy” rating in a research report on Tuesday, December 16th. Jefferies Financial Group dropped their target price on shares of Corteva from $92.00 to $85.00 in a research report on Thursday, October 2nd. Finally, Wolfe Research boosted their target price on Corteva from $80.00 to $81.00 and gave the stock an “outperform” rating in a research note on Friday, January 16th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Corteva presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.47.

Corteva Trading Up 1.3%

Shares of Corteva stock opened at $72.60 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.07 and a current ratio of 1.58. The stock has a market capitalization of $49.06 billion, a P/E ratio of 31.03, a P/E/G ratio of 1.82 and a beta of 0.74. Corteva, Inc. has a 52-week low of $53.40 and a 52-week high of $77.41. The stock’s 50-day simple moving average is $67.43 and its 200 day simple moving average is $68.33.

Corteva (NYSE:CTVA) last posted its 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 firm had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.47 billion. Corteva had a net margin of 9.19% and a return on equity of 9.37%. The company’s revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the company earned ($0.49) earnings per share. As a group, research analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were issued 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 yield of 1.0%. Corteva’s payout ratio is presently 30.77%.

Corteva Profile

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.