Corteva, Inc. (NYSE:CTVA) Stock Holdings Lifted by Greenleaf Trust

Greenleaf Trust raised its position in Corteva, Inc. (NYSE:CTVAGet Rating) by 11.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,476 shares of the company’s stock after purchasing an additional 1,583 shares during the quarter. Greenleaf Trust’s holdings in Corteva were worth $838,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CTVA. National Asset Management Inc. grew its stake in Corteva by 30.9% in the first quarter. National Asset Management Inc. now owns 11,465 shares of the company’s stock valued at $660,000 after purchasing an additional 2,705 shares in the last quarter. Waldron Private Wealth LLC grew its stake in Corteva by 5.1% in the first quarter. Waldron Private Wealth LLC now owns 5,320 shares of the company’s stock valued at $305,000 after purchasing an additional 258 shares in the last quarter. Gladstone Institutional Advisory LLC purchased a new position in Corteva in the first quarter valued at about $281,000. Banque Pictet & Cie SA grew its stake in Corteva by 6.3% in the first quarter. Banque Pictet & Cie SA now owns 19,528 shares of the company’s stock valued at $1,122,000 after purchasing an additional 1,161 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its stake in shares of Corteva by 4.8% during the 1st quarter. Commonwealth Equity Services LLC now owns 152,975 shares of the company’s stock worth $8,793,000 after acquiring an additional 7,017 shares in the last quarter. Hedge funds and other institutional investors own 79.02% of the company’s stock.

Insider Activity

In other Corteva news, insider Audrey Grimm sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $62.79, for a total transaction of $627,900.00. Following the completion of the transaction, the insider now directly owns 7,511 shares of the company’s stock, valued at approximately $471,615.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.08% of the company’s stock.

Corteva Trading Down 0.4 %

Shares of NYSE CTVA opened at $65.80 on Thursday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.08 and a current ratio of 1.69. The firm’s 50 day moving average price is $62.85 and its 200-day moving average price is $59.57. Corteva, Inc. has a 52-week low of $43.74 and a 52-week high of $68.43. The company has a market cap of $47.01 billion, a PE ratio of 35.19, a P/E/G ratio of 1.61 and a beta of 0.74.

Corteva (NYSE:CTVAGet Rating) last posted its quarterly earnings results on Friday, November 4th. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.11. Corteva had a net margin of 7.95% and a return on equity of 7.31%. The business had revenue of $2.78 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same period in the prior year, the business posted ($0.14) earnings per share. The company’s revenue was up 17.1% on a year-over-year basis. On average, equities research analysts expect that Corteva, Inc. will post 2.57 EPS for the current fiscal year.

Corteva declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, September 13th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 4.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Corteva Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Monday, November 14th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend is Thursday, November 10th. Corteva’s dividend payout ratio is currently 32.09%.

Analyst Upgrades and Downgrades

CTVA has been the subject of several recent analyst reports. BMO Capital Markets increased their target price on Corteva from $72.00 to $76.00 and gave the company an “outperform” rating in a research note on Monday, November 7th. Credit Suisse Group increased their target price on Corteva from $72.00 to $74.00 and gave the company an “outperform” rating in a research note on Friday, November 4th. JPMorgan Chase & Co. raised Corteva from a “neutral” rating to an “overweight” rating and upped their price target for the company from $58.00 to $63.00 in a report on Monday, August 8th. UBS Group cut Corteva from a “buy” rating to a “neutral” rating and increased their target price for the stock from $70.00 to $73.00 in a report on Tuesday, November 15th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Corteva from $68.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, September 15th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $71.93.

Corteva Company Profile

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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.

See Also

Institutional Ownership by Quarter for Corteva (NYSE:CTVA)

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