Corteva, Inc. (NYSE:CTVA) Shares Acquired by Equitable Trust Co.

Equitable Trust Co. grew its position in Corteva, Inc. (NYSE:CTVA) by 10.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,990 shares of the company’s stock after acquiring an additional 464 shares during the quarter. Equitable Trust Co.’s holdings in Corteva were worth $269,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Redmont Wealth Advisors LLC purchased a new stake in shares of Corteva during the first quarter worth approximately $25,000. Acadian Asset Management LLC acquired a new position in shares of Corteva during the 1st quarter worth $25,000. Rise Advisors LLC increased its position in Corteva by 2,522.2% during the 1st quarter. Rise Advisors LLC now owns 472 shares of the company’s stock worth $27,000 after purchasing an additional 454 shares in the last quarter. Albion Financial Group UT increased its position in Corteva by 77.2% during the 1st quarter. Albion Financial Group UT now owns 505 shares of the company’s stock worth $29,000 after purchasing an additional 220 shares in the last quarter. Finally, Ironwood Wealth Management Inc. increased its position in Corteva by 106.1% during the 1st quarter. Ironwood Wealth Management Inc. now owns 544 shares of the company’s stock worth $31,000 after purchasing an additional 280 shares in the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

Corteva Stock Performance

Corteva stock opened at $57.30 on Tuesday. The stock’s 50 day moving average price is $53.67 and its 200 day moving average price is $54.59. The firm has a market capitalization of $39.67 billion, a PE ratio of 72.53, a price-to-earnings-growth ratio of 1.65 and a beta of 0.77. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.17 and a current ratio of 1.72. Corteva, Inc. has a one year low of $43.22 and a one year high of $58.76.

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

Corteva Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be given a dividend of $0.17 per share. This is a positive change from Corteva’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend is Tuesday, September 3rd. Corteva’s dividend payout ratio is currently 81.01%.

Wall Street Analyst Weigh In

Several analysts have commented on CTVA shares. Wells Fargo & Company lowered their price target on Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. KeyCorp lowered their price target on Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. JPMorgan Chase & Co. lowered their price target on Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. OTR Global restated a “negative” rating on shares of Corteva in a report on Friday, June 7th. Finally, Mizuho lowered their price target on Corteva from $61.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday, June 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $61.67.

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.