Amalgamated Bank Sells 4,054 Shares of Corteva, Inc. (NYSE:CTVA)

Amalgamated Bank decreased its position in shares of Corteva, Inc. (NYSE:CTVA) by 2.8% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 141,169 shares of the company’s stock after selling 4,054 shares during the quarter. Amalgamated Bank’s holdings in Corteva were worth $7,615,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the company. Capital International Investors increased its position in shares of Corteva by 2.6% in the first quarter. Capital International Investors now owns 26,437,457 shares of the company’s stock worth $1,524,648,000 after purchasing an additional 678,722 shares during the period. Northern Trust Corp increased its position in shares of Corteva by 2.5% in the fourth quarter. Northern Trust Corp now owns 12,815,795 shares of the company’s stock worth $614,133,000 after purchasing an additional 310,012 shares during the period. Van ECK Associates Corp increased its position in shares of Corteva by 7.2% in the first quarter. Van ECK Associates Corp now owns 9,145,282 shares of the company’s stock worth $527,409,000 after purchasing an additional 617,030 shares during the period. Harris Associates L P increased its position in shares of Corteva by 87.1% in the fourth quarter. Harris Associates L P now owns 9,011,702 shares of the company’s stock worth $431,841,000 after purchasing an additional 4,194,981 shares during the period. Finally, Putnam Investments LLC increased its position in shares of Corteva by 12.9% in the fourth quarter. Putnam Investments LLC now owns 8,950,382 shares of the company’s stock worth $428,902,000 after purchasing an additional 1,021,733 shares during the period. Institutional investors own 81.54% of the company’s stock.

Corteva Stock Performance

Shares of CTVA stock opened at $58.60 on Friday. The business’s 50-day moving average price is $54.59 and its 200-day moving average price is $54.73. Corteva, Inc. has a 12 month low of $43.22 and a 12 month high of $58.92. The firm has a market capitalization of $40.84 billion, a price-to-earnings ratio of 74.18, a PEG ratio of 1.60 and a beta of 0.77. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.10.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.09. The company had revenue of $6.11 billion for the quarter, compared to analyst estimates of $6.15 billion. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.60 earnings per share. Equities research analysts forecast that Corteva, Inc. will post 2.69 EPS for the current year.

Corteva Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a $0.17 dividend. This is a positive change from Corteva’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend was Tuesday, September 3rd. Corteva’s payout ratio is currently 86.08%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on CTVA shares. Mizuho reduced their price objective on Corteva from $61.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, June 18th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Corteva in a research note on Wednesday, June 12th. OTR Global reaffirmed a “negative” rating on shares of Corteva in a research note on Friday, June 7th. KeyCorp reduced their price objective on Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Finally, Wells Fargo & Company reduced their price objective on Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $61.67.

Corteva Company 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.