Corteva, Inc. $CTVA Shares Bought by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC grew its position in shares of Corteva, Inc. (NYSE:CTVA) by 3.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 233,870 shares of the company’s stock after acquiring an additional 6,819 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Corteva were worth $17,430,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Peak Financial Advisors LLC acquired a new stake in Corteva during the second quarter worth about $505,000. Cary Street Partners Financial LLC grew its stake in shares of Corteva by 20.7% in the first quarter. Cary Street Partners Financial LLC now owns 90,206 shares of the company’s stock valued at $5,677,000 after buying an additional 15,448 shares in the last quarter. PGGM Investments grew its stake in shares of Corteva by 68.5% in the second quarter. PGGM Investments now owns 1,223,444 shares of the company’s stock valued at $91,183,000 after buying an additional 497,200 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Corteva by 28.6% in the first quarter. Goldman Sachs Group Inc. now owns 2,851,993 shares of the company’s stock valued at $179,476,000 after buying an additional 634,938 shares in the last quarter. Finally, S.E.E.D. Planning Group LLC grew its stake in shares of Corteva by 70.3% in the second quarter. S.E.E.D. Planning Group LLC now owns 164,393 shares of the company’s stock valued at $12,252,000 after buying an additional 67,869 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Trading Up 0.2%

Shares of CTVA opened at $63.63 on Monday. The company has a market capitalization of $43.21 billion, a P/E ratio of 31.04, a P/E/G ratio of 1.46 and a beta of 0.76. Corteva, Inc. has a one year low of $53.40 and a one year high of $77.41. 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 50-day moving average price of $68.53 and a 200 day moving average price of $69.20.

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

Corteva Increases Dividend

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

Insider Buying and Selling

In other Corteva news, EVP Robert D. King sold 37,280 shares of the stock in a transaction that occurred 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 transaction, the executive vice president owned 49,262 shares of the company’s stock, valued at $3,655,240.40. This trade represents a 43.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.15% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CTVA shares. The Goldman Sachs Group lowered their target price on Corteva from $85.00 to $77.00 and set a “buy” rating for the company in a research note on Wednesday, October 22nd. Oppenheimer lowered their target price on Corteva from $87.00 to $75.00 and set an “outperform” rating for the company in a research note on Wednesday, October 22nd. Wall Street Zen lowered Corteva from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Jefferies Financial Group lowered their target price on Corteva from $92.00 to $85.00 in a research note on Thursday, October 2nd. Finally, Citigroup downgraded Corteva from a “buy” rating to a “neutral” rating and reduced their price target for the company from $83.00 to $70.00 in a report on Thursday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $79.94.

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.