Corteva, Inc. $CTVA Position Decreased by Howard Capital Management Inc.

Howard Capital Management Inc. decreased its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 12.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 3,903 shares of the company’s stock after selling 561 shares during the period. Howard Capital Management Inc.’s holdings in Corteva were worth $291,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of 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 purchasing an additional 639,799 shares in the last quarter. Independent Franchise Partners LLP boosted its position in shares of Corteva by 1.8% during the 1st 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 in the last quarter. Northern Trust Corp boosted its position in shares of Corteva by 1.0% during the 1st 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 in the last quarter. Nuveen LLC bought a new position in shares of Corteva during the 1st quarter valued at about $640,333,000. Finally, WCM Investment Management LLC boosted its position in shares of Corteva by 29.6% during the 2nd 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 in the last quarter. Institutional investors own 81.54% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on CTVA shares. Zacks Research upgraded shares of Corteva from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 1st. Royal Bank Of Canada cut their price target on shares of Corteva from $86.00 to $80.00 and set an “outperform” rating on the stock in a report on Friday, October 17th. Citigroup lowered shares of Corteva from a “buy” rating to a “neutral” rating and cut their price target for the company from $83.00 to $70.00 in a report on Thursday, October 2nd. The Goldman Sachs Group cut their price target on shares of Corteva from $85.00 to $77.00 and set a “buy” rating on the stock in a report on Wednesday, October 22nd. Finally, KeyCorp restated a “sector weight” rating on shares of Corteva in a report on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $79.69.

Corteva Price Performance

NYSE CTVA opened at $61.62 on Friday. The company has a 50 day simple moving average of $67.76 and a 200-day simple moving average of $69.25. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.68 and a quick ratio of 1.23. The firm has a market capitalization of $41.84 billion, a price-to-earnings ratio of 30.06, a price-to-earnings-growth ratio of 1.44 and a beta of 0.76. Corteva, Inc. has a 52-week low of $53.40 and a 52-week high of $77.41.

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $2.20 earnings per share (EPS) for the quarter, topping 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 firm’s revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.83 earnings per share. Equities research analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Insider Activity

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 transaction, the executive vice president owned 49,262 shares of the company’s stock, 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 is available through the SEC website. 0.14% of the stock is owned by company insiders.

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.