Corteva, Inc. $CTVA Shares Sold by NBT Bank N A NY

NBT Bank N A NY lessened its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 5.6% in the second quarter, Holdings Channel.com reports. The firm owned 12,230 shares of the company’s stock after selling 720 shares during the period. NBT Bank N A NY’s holdings in Corteva were worth $912,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Maryland Capital Advisors Inc. acquired a new stake in Corteva during the 2nd quarter valued at approximately $29,000. Valley National Advisers Inc. grew its stake in Corteva by 85.9% during the 1st quarter. Valley National Advisers Inc. now owns 526 shares of the company’s stock valued at $33,000 after purchasing an additional 243 shares in the last quarter. DHJJ Financial Advisors Ltd. grew its position in shares of Corteva by 132.2% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 527 shares of the company’s stock worth $39,000 after acquiring an additional 300 shares in the last quarter. Richardson Capital Management LLC acquired a new position in shares of Corteva in the 1st quarter worth approximately $37,000. Finally, von Borstel & Associates Inc. acquired a new position in shares of Corteva in the 1st quarter worth approximately $44,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Trading Down 3.8%

Shares of NYSE CTVA opened at $63.10 on Thursday. The company has a market cap of $42.85 billion, a price-to-earnings ratio of 30.78, a price-to-earnings-growth ratio of 1.48 and a beta of 0.76. Corteva, Inc. has a 12-month low of $53.40 and a 12-month high of $77.41. The company has a current ratio of 1.68, a quick ratio of 1.23 and a debt-to-equity ratio of 0.06. The stock’s 50 day simple moving average is $70.75 and its 200 day simple moving average is $68.90.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.31. The business had revenue of $6.46 billion for the quarter, compared to the consensus estimate of $6.26 billion. Corteva had a return on equity of 8.68% and a net margin of 8.16%.The business’s revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the business posted $1.83 EPS. Equities research analysts expect that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.18 per share. This is a boost from Corteva’s previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, September 2nd. This represents a $0.72 dividend on an annualized basis and a yield of 1.1%. Corteva’s payout ratio is presently 35.12%.

Insider Transactions at Corteva

In other Corteva news, EVP Robert D. King sold 37,280 shares of the business’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the completion of the transaction, the executive vice president owned 49,262 shares in the company, valued at approximately $3,655,240.40. The trade was a 43.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

CTVA has been the subject of several research reports. JPMorgan Chase & Co. upgraded Corteva from a “neutral” rating to an “overweight” rating and set a $67.00 target price for the company in a research report on Thursday, October 2nd. Oppenheimer set a $87.00 target price on Corteva and gave the stock an “outperform” rating in a research report on Tuesday, July 15th. Morgan Stanley set a $84.00 target price on Corteva in a research report on Monday, September 15th. UBS Group decreased their target price on Corteva from $91.00 to $85.00 and set a “buy” rating for the company in a research report on Monday. Finally, Weiss Ratings lowered Corteva from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $80.13.

About Corteva

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.