Balentine LLC Decreases Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Balentine LLC cut its holdings in Corteva, Inc. (NYSE:CTVA) by 56.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,664 shares of the company’s stock after selling 8,688 shares during the quarter. Balentine LLC’s holdings in Corteva were worth $319,000 at the end of the most recent quarter.

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

Corteva Price Performance

Shares of CTVA opened at $56.98 on Thursday. The firm has a market capitalization of $39.71 billion, a price-to-earnings ratio of 72.13, a PEG ratio of 1.50 and a beta of 0.78. The firm’s fifty day simple moving average is $56.03 and its 200-day simple moving average is $51.37. Corteva, Inc. has a twelve month low of $43.22 and a twelve month 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.

Corteva (NYSE:CTVA) last announced its earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10. Corteva had a return on equity of 6.68% and a net margin of 3.32%. The firm had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same period in the prior year, the firm earned $1.16 EPS. The business’s revenue was down 8.0% on a year-over-year basis. Equities analysts forecast that Corteva, Inc. will post 2.82 EPS for the current fiscal year.

Corteva Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. TheStreet upgraded shares of Corteva from a “c+” rating to a “b-” rating in a report on Tuesday, February 27th. Mizuho increased their price objective on Corteva from $56.00 to $61.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Wolfe Research assumed 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. Deutsche Bank Aktiengesellschaft increased their price target on Corteva from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $57.00 price objective (down from $58.00) on shares of Corteva in a report on Friday, April 12th. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Corteva has an average rating of “Moderate Buy” and a consensus target price of $63.05.

Insider Buying and Selling at Corteva

In other Corteva news, insider Brian Titus sold 12,134 shares of Corteva stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $56.65, for a total value of $687,391.10. Following the sale, the insider now owns 13,495 shares of the company’s stock, valued at approximately $764,491.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Corteva news, insider Samuel R. Eathington sold 31,686 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $57.64, for a total transaction of $1,826,381.04. Following the transaction, the insider now directly owns 53,854 shares in the company, valued at $3,104,144.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Brian Titus sold 12,134 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $56.65, for a total value of $687,391.10. Following the completion of the sale, the insider now owns 13,495 shares in the company, valued at approximately $764,491.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 83,556 shares of company stock worth $4,795,016. 0.14% of the stock is currently owned by insiders.

Corteva 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.