Bank of Montreal Can Has $49.14 Million Position in Corteva, Inc. $CTVA

Bank of Montreal Can cut its stake in shares of Corteva, Inc. (NYSE:CTVA) by 20.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 659,321 shares of the company’s stock after selling 166,504 shares during the quarter. Bank of Montreal Can’s holdings in Corteva were worth $49,139,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Gladwyn Financial Advisors Inc. bought a new stake in Corteva during the second quarter valued at $25,000. Curat Global LLC boosted its position in Corteva by 93.7% during the second quarter. Curat Global LLC now owns 370 shares of the company’s stock valued at $28,000 after acquiring an additional 179 shares during the last quarter. Maryland Capital Advisors Inc. bought a new stake in Corteva during the second quarter valued at $29,000. Princeton Global Asset Management LLC boosted its position in Corteva by 61.5% during the second quarter. Princeton Global Asset Management LLC now owns 525 shares of the company’s stock valued at $39,000 after acquiring an additional 200 shares during the last quarter. Finally, DHJJ Financial Advisors Ltd. boosted its position in Corteva by 132.2% during the second quarter. DHJJ Financial Advisors Ltd. now owns 527 shares of the company’s stock valued at $39,000 after acquiring an additional 300 shares during the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CTVA has been the topic of a number of research analyst reports. 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 research report on Friday, October 17th. 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 research report on Wednesday, October 22nd. BMO Capital Markets set a $86.00 price target on shares of Corteva in a report on Monday, September 15th. Morgan Stanley set a $84.00 price target on shares of Corteva in a research note on Monday, September 15th. Finally, Citigroup lowered shares of Corteva from a “buy” rating to a “neutral” rating and decreased their price target for the company from $83.00 to $70.00 in a research note on Thursday, October 2nd. Fifteen analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.65.

Insider Buying and Selling

In related news, EVP Robert D. King sold 37,280 shares of Corteva stock in a transaction 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 sale, the executive vice president directly 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 SEC, which can be accessed through this link. Company insiders own 0.14% of the company’s stock.

Corteva Trading Up 1.9%

NYSE CTVA opened at $63.66 on Thursday. The firm has a market capitalization of $43.23 billion, a P/E ratio of 27.21, a PEG ratio of 1.43 and a beta of 0.81. The business has a fifty day simple moving average of $66.84 and a 200 day simple moving average of $69.40. Corteva, Inc. has a 12 month low of $53.40 and a 12 month high of $77.41. The company has a current ratio of 1.68, a quick ratio of 1.23 and a debt-to-equity ratio of 0.06.

Corteva (NYSE:CTVA) last released its quarterly earnings results on Tuesday, November 4th. The company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.26. The business had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.47 billion. Corteva had a return on equity of 9.42% and a net margin of 9.19%.Corteva’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.49) EPS. On average, analysts predict that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Monday, December 1st. 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.