Waldron Private Wealth LLC Sells 187 Shares of Corteva, Inc. (NYSE:CTVA)

Waldron Private Wealth LLC trimmed its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 3.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,400 shares of the company’s stock after selling 187 shares during the period. Waldron Private Wealth LLC’s holdings in Corteva were worth $291,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of CTVA. Summit Financial LLC lifted its holdings in shares of Corteva by 56.0% in the second quarter. Summit Financial LLC now owns 5,420 shares of the company’s stock worth $292,000 after buying an additional 1,946 shares in the last quarter. Essex Financial Services Inc. boosted its position in shares of Corteva by 76.4% during the second quarter. Essex Financial Services Inc. now owns 12,256 shares of the company’s stock valued at $661,000 after purchasing an additional 5,309 shares in the last quarter. Aptus Capital Advisors LLC increased its stake in shares of Corteva by 8.8% during the second quarter. Aptus Capital Advisors LLC now owns 4,200 shares of the company’s stock valued at $227,000 after purchasing an additional 338 shares in the last quarter. Davidson Investment Advisors increased its holdings in shares of Corteva by 1.7% during the second quarter. Davidson Investment Advisors now owns 316,040 shares of the company’s stock valued at $17,047,000 after acquiring an additional 5,269 shares in the last quarter. Finally, nVerses Capital LLC purchased a new position in Corteva in the second quarter worth about $820,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Stock Up 0.5 %

Shares of CTVA opened at $57.30 on Monday. Corteva, Inc. has a 52 week low of $43.22 and a 52 week high of $58.76. The company has a market capitalization of $39.67 billion, a price-to-earnings ratio of 72.53, a PEG ratio of 1.65 and a beta of 0.77. The stock’s 50-day moving average price is $53.58 and its 200-day moving average price is $54.57. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.10.

Corteva (NYSE:CTVA) last released its quarterly earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.09. The company had revenue of $6.11 billion during the quarter, compared to analysts’ expectations of $6.15 billion. Corteva had a return on equity of 7.30% and a net margin of 5.31%. Corteva’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.60 EPS. On average, sell-side analysts predict that Corteva, Inc. will post 2.72 EPS for the current year.

Corteva Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.17 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.19%. This is a boost from Corteva’s previous quarterly dividend of $0.16. Corteva’s dividend payout ratio is presently 81.01%.

Analysts Set New Price Targets

A number of analysts have recently commented on CTVA shares. Argus lowered shares of Corteva from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. KeyCorp dropped their price target on Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. OTR Global restated a “negative” rating on shares of Corteva in a research report on Friday, June 7th. JPMorgan Chase & Co. dropped their price objective on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $65.00 price target on shares of Corteva in a report on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $61.67.

About Corteva

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.