Vanguard Personalized Indexing Management LLC Increases Stock Position in Corteva, Inc. $CTVA

Vanguard Personalized Indexing Management LLC boosted its stake in Corteva, Inc. (NYSE:CTVA) by 28.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 84,398 shares of the company’s stock after acquiring an additional 18,456 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Corteva were worth $6,321,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Moody National Bank Trust Division increased its stake in Corteva by 0.7% in the second quarter. Moody National Bank Trust Division now owns 22,139 shares of the company’s stock valued at $1,650,000 after purchasing an additional 143 shares during the period. Ancora Advisors LLC increased its stake in Corteva by 0.8% in the first quarter. Ancora Advisors LLC now owns 18,567 shares of the company’s stock valued at $1,168,000 after purchasing an additional 150 shares during the period. NewEdge Advisors LLC increased its stake in Corteva by 0.5% in the first quarter. NewEdge Advisors LLC now owns 31,455 shares of the company’s stock valued at $1,979,000 after purchasing an additional 152 shares during the period. Plancorp LLC increased its stake in Corteva by 2.3% in the first quarter. Plancorp LLC now owns 7,156 shares of the company’s stock valued at $450,000 after purchasing an additional 158 shares during the period. Finally, Legacy Financial Advisors Inc. increased its stake in Corteva by 4.4% in the first quarter. Legacy Financial Advisors Inc. now owns 3,761 shares of the company’s stock valued at $237,000 after purchasing an additional 160 shares during the period. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Corteva

In related news, EVP Robert D. King sold 37,280 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the sale, the executive vice president owned 49,262 shares in the company, valued at approximately $3,655,240.40. This trade represents a 43.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CTVA shares. Wells Fargo & Company reiterated an “overweight” rating and set a $83.00 price target (up from $82.00) on shares of Corteva in a research note on Friday, August 8th. JPMorgan Chase & Co. upgraded shares of Corteva from a “neutral” rating to an “overweight” rating and set a $67.00 price target on the stock in a research note on Thursday, October 2nd. Weiss Ratings lowered shares of Corteva from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. UBS Group dropped their price target on shares of Corteva from $91.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday, October 6th. Finally, KeyCorp restated a “sector weight” rating on shares of Corteva in a research report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Corteva currently has a consensus rating of “Moderate Buy” and an average target price of $80.81.

Corteva Stock Up 1.3%

CTVA stock opened at $62.64 on Tuesday. The company’s 50 day simple moving average is $70.20 and its 200-day simple moving average is $69.00. The firm has a market capitalization of $42.54 billion, a PE ratio of 30.56, a P/E/G ratio of 1.40 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 debt-to-equity ratio of 0.06, a current ratio of 1.68 and a quick ratio of 1.23.

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

Corteva Increases Dividend

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

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.