Welch & Forbes LLC Reduces Position in Corteva, Inc. (NYSE:CTVA)

Welch & Forbes LLC reduced its stake in Corteva, Inc. (NYSE:CTVA) by 41.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,973 shares of the company’s stock after selling 7,833 shares during the quarter. Welch & Forbes LLC’s holdings in Corteva were worth $526,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of CTVA. Essex Financial Services Inc. grew its position in shares of Corteva by 3.2% during the third quarter. Essex Financial Services Inc. now owns 6,883 shares of the company’s stock worth $352,000 after purchasing an additional 215 shares in the last quarter. Baxter Bros Inc. lifted its position in shares of Corteva by 1.2% in the fourth quarter. Baxter Bros Inc. now owns 17,576 shares of the company’s stock worth $842,000 after buying an additional 215 shares in the last quarter. NewSquare Capital LLC grew its holdings in Corteva by 70.6% during the 3rd quarter. NewSquare Capital LLC now owns 546 shares of the company’s stock valued at $28,000 after buying an additional 226 shares in the last quarter. Tradewinds LLC. raised its holdings in shares of Corteva by 5.1% during the 3rd quarter. Tradewinds LLC. now owns 4,788 shares of the company’s stock worth $245,000 after acquiring an additional 231 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC increased its position in Corteva by 4.7% in the fourth quarter. Wealthcare Advisory Partners LLC now owns 5,361 shares of the company’s stock worth $257,000 after purchasing an additional 242 shares during the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on CTVA shares. Loop Capital upgraded Corteva from a “hold” rating to a “buy” rating and lifted their price target for the stock from $57.00 to $65.00 in a research report on Monday, February 12th. Wolfe Research started coverage on Corteva in a research report on Friday, March 1st. They set an “outperform” rating and a $67.00 target price for the company. UBS Group reduced their price target on shares of Corteva from $65.00 to $64.00 and set a “buy” rating on the stock in a research note on Thursday, January 11th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Corteva from $62.00 to $65.00 and gave the company a “buy” rating in a research report on Monday. Finally, Canaccord Genuity Group raised their target price on shares of Corteva from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $63.24.

Corteva Trading Down 0.4 %

CTVA stock traded down $0.23 during midday trading on Wednesday, hitting $57.29. 552,165 shares of the company’s stock were exchanged, compared to its average volume of 3,531,785. Corteva, Inc. has a 1-year low of $43.22 and a 1-year high of $58.81. The company has a current ratio of 1.51, a quick ratio of 0.97 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $39.93 billion, a PE ratio of 72.81, a P/E/G ratio of 1.50 and a beta of 0.78. The business has a 50-day simple moving average of $55.45 and a two-hundred day simple moving average of $50.74.

Corteva (NYSE:CTVA) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.79 by $0.10. Corteva had a return on equity of 6.68% and a net margin of 3.32%. The business had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.65 billion. During the same period last year, the business posted $1.16 earnings per share. The company’s quarterly revenue was down 8.0% on a year-over-year basis. On average, sell-side analysts predict that Corteva, Inc. will post 2.83 EPS for the current fiscal year.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend is Tuesday, June 4th. Corteva’s dividend payout ratio is presently 81.01%.

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.