Shell Asset Management Co. Has $1.68 Million Position in Corteva, Inc. $CTVA

Shell Asset Management Co. increased its position in Corteva, Inc. (NYSE:CTVA) by 93.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 22,600 shares of the company’s stock after acquiring an additional 10,908 shares during the quarter. Shell Asset Management Co.’s holdings in Corteva were worth $1,684,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Joel Isaacson & Co. LLC acquired a new position in shares of Corteva in the second quarter valued at approximately $228,000. KLP Kapitalforvaltning AS increased its position in Corteva by 6.2% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 251,676 shares of the company’s stock valued at $18,757,000 after purchasing an additional 14,600 shares during the period. Bingham Private Wealth LLC acquired a new stake in Corteva during the 2nd quarter valued at approximately $296,000. Valeo Financial Advisors LLC increased its position in Corteva by 4,168.7% during the 2nd quarter. Valeo Financial Advisors LLC now owns 571,320 shares of the company’s stock valued at $42,580,000 after purchasing an additional 557,936 shares during the period. Finally, Three Bridge Wealth Advisors LLC acquired a new stake in Corteva during the 2nd quarter valued at approximately $246,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on CTVA. Mizuho decreased their target price on shares of Corteva from $85.00 to $78.00 and set an “outperform” rating for the company in a research report on Wednesday. Weiss Ratings downgraded shares of Corteva from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday. Wall Street Zen raised shares of Corteva from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Barclays raised shares of Corteva from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $75.00 to $84.00 in a research report on Wednesday, August 13th. Finally, JPMorgan Chase & Co. upgraded Corteva from a “neutral” rating to an “overweight” rating and set a $67.00 price target on the stock in a report on Thursday, October 2nd. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $80.13.

Insider Buying and Selling

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

Corteva Price Performance

Corteva stock opened at $63.10 on Thursday. Corteva, Inc. has a 52-week low of $53.40 and a 52-week high of $77.41. The stock’s 50 day moving average price is $70.75 and its two-hundred day moving average price is $68.90. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.23 and a current ratio of 1.68. The stock has a market capitalization of $42.85 billion, a price-to-earnings ratio of 30.78, a PEG ratio of 1.48 and a beta of 0.76.

Corteva (NYSE:CTVA) last released its quarterly earnings results on Wednesday, August 6th. The company reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.31. The business had revenue of $6.46 billion during the quarter, compared to analyst estimates of $6.26 billion. Corteva had a return on equity of 8.68% and a net margin of 8.16%.Corteva’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.83 EPS. On average, equities analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Increases Dividend

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

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.