Moloney Securities Asset Management LLC Acquires Shares of 2,806 Corteva, Inc. $CTVA

Moloney Securities Asset Management LLC acquired a new stake in shares of Corteva, Inc. (NYSE:CTVA) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 2,806 shares of the company’s stock, valued at approximately $209,000.

Several other large investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in Corteva by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 79,814,646 shares of the company’s stock valued at $5,022,736,000 after acquiring an additional 639,799 shares in the last quarter. Independent Franchise Partners LLP lifted its holdings in shares of Corteva by 1.8% during the first quarter. Independent Franchise Partners LLP now owns 16,785,300 shares of the company’s stock valued at $1,056,299,000 after purchasing an additional 288,792 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Corteva by 1.0% during the first quarter. Northern Trust Corp now owns 11,759,755 shares of the company’s stock valued at $740,041,000 after purchasing an additional 110,865 shares during the last quarter. Nuveen LLC purchased a new position in shares of Corteva during the first quarter valued at approximately $640,333,000. Finally, WCM Investment Management LLC lifted its holdings in shares of Corteva by 29.6% during the second quarter. WCM Investment Management LLC now owns 9,044,706 shares of the company’s stock valued at $672,836,000 after purchasing an additional 2,066,519 shares during the last quarter. 81.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Oppenheimer lowered their target price on shares of Corteva from $87.00 to $75.00 and set an “outperform” rating for the company in a report on Wednesday, October 22nd. BMO Capital Markets set a $86.00 target price on shares of Corteva in a report on Monday, September 15th. Royal Bank Of Canada lowered their target price on shares of Corteva from $86.00 to $80.00 and set an “outperform” rating for the company in a report on Friday, October 17th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Corteva from $83.00 to $90.00 and gave the company a “buy” rating in a report on Monday, September 15th. Finally, Morgan Stanley set a $84.00 target price on shares of Corteva in a report on Monday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $79.94.

Corteva Price Performance

Shares of CTVA opened at $63.63 on Monday. The firm has a market cap of $43.21 billion, a PE ratio of 31.04, a P/E/G ratio of 1.46 and a beta of 0.76. 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 firm has a fifty day simple moving average of $68.53 and a two-hundred day simple moving average of $69.20. Corteva, Inc. has a 1-year low of $53.40 and a 1-year high of $77.41.

Corteva (NYSE:CTVA) last announced its earnings results on Wednesday, August 6th. The company reported $2.20 earnings per share 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 net margin of 8.16% and a return on equity of 8.68%. The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.83 EPS. On average, equities analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were paid a dividend of $0.18 per share. The ex-dividend date 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 presently 35.12%.

Insiders Place Their Bets

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 shares were sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the completion of the sale, the executive vice president directly 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.15% of the company’s stock.

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.