Valeo Financial Advisors LLC Buys 659 Shares of Corteva, Inc. (NYSE:CTVA)

Valeo Financial Advisors LLC grew its stake in shares of Corteva, Inc. (NYSE:CTVA) by 7.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,592 shares of the company’s stock after acquiring an additional 659 shares during the period. Valeo Financial Advisors LLC’s holdings in Corteva were worth $564,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of CTVA. Capital International Investors lifted its holdings in Corteva by 2.6% during the first quarter. Capital International Investors now owns 26,437,457 shares of the company’s stock valued at $1,524,648,000 after purchasing an additional 678,722 shares during the last quarter. Van ECK Associates Corp grew its stake in Corteva by 7.2% in the 1st quarter. Van ECK Associates Corp now owns 9,145,282 shares of the company’s stock valued at $527,409,000 after buying an additional 617,030 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Corteva by 28.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,842,907 shares of the company’s stock valued at $369,106,000 after acquiring an additional 1,514,954 shares during the period. Legal & General Group Plc lifted its position in shares of Corteva by 0.9% during the second quarter. Legal & General Group Plc now owns 6,741,972 shares of the company’s stock worth $363,662,000 after acquiring an additional 61,127 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Corteva by 5.1% in the second quarter. Dimensional Fund Advisors LP now owns 4,649,450 shares of the company’s stock worth $250,786,000 after acquiring an additional 224,423 shares during the period. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on CTVA shares. Argus lowered Corteva from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. KeyCorp decreased their price target on Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. JPMorgan Chase & Co. cut their price objective on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Wells Fargo & Company decreased their target price on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Finally, Mizuho cut their price target on shares of Corteva from $61.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday, June 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $61.94.

Corteva Price Performance

Shares of Corteva stock opened at $57.76 on Tuesday. The stock has a market capitalization of $40.26 billion, a price-to-earnings ratio of 73.11, a price-to-earnings-growth ratio of 1.66 and a beta of 0.77. The company has a fifty day moving average of $55.77 and a 200-day moving average of $55.02. Corteva, Inc. has a 52-week low of $43.22 and a 52-week high of $59.08. 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 (NYSE:CTVA) last announced its quarterly earnings data 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 firm had revenue of $6.11 billion for the quarter, compared to analysts’ expectations of $6.15 billion. During the same period last year, the firm earned $1.60 earnings per share. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. Equities research analysts expect that Corteva, Inc. will post 2.66 EPS for the current year.

Corteva Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.18%. This is an increase from Corteva’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Tuesday, September 3rd. Corteva’s payout ratio is presently 86.08%.

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.