Whittier Trust Co. of Nevada Inc. Sells 248 Shares of Corteva, Inc. (NYSE:CTVA)

Whittier Trust Co. of Nevada Inc. reduced its position in Corteva, Inc. (NYSE:CTVA) by 1.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,542 shares of the company’s stock after selling 248 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Corteva were worth $1,031,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Redmont Wealth Advisors LLC bought a new position in Corteva in the first quarter valued at about $25,000. Acadian Asset Management LLC bought a new position in Corteva in the 1st quarter valued at approximately $25,000. Albion Financial Group UT lifted its stake in Corteva by 77.2% in the 1st quarter. Albion Financial Group UT now owns 505 shares of the company’s stock valued at $29,000 after purchasing an additional 220 shares during the last quarter. Cultivar Capital Inc. bought a new stake in shares of Corteva during the second quarter worth $34,000. Finally, Redwood Wealth Management Group LLC acquired a new position in shares of Corteva during the second quarter worth $43,000. Institutional investors own 81.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CTVA shares. KeyCorp cut their price objective on Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Bank of America raised Corteva from a “neutral” rating to a “buy” rating and upped their price objective for the company from $59.00 to $67.00 in a research note on Wednesday, October 16th. Morgan Stanley reiterated an “overweight” rating and issued a $65.00 price objective on shares of Corteva in a report on Tuesday, September 24th. Wells Fargo & Company decreased their price target on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Finally, Argus lowered shares of Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Corteva currently has a consensus rating of “Moderate Buy” and an average target price of $62.21.

Corteva Stock Down 0.2 %

Shares of NYSE:CTVA opened at $59.12 on Wednesday. The firm has a market cap of $41.21 billion, a P/E ratio of 74.84, a PEG ratio of 1.66 and a beta of 0.77. Corteva, Inc. has a 52-week low of $43.22 and a 52-week high of $59.68. The business’s 50 day simple moving average is $56.66 and its two-hundred day simple moving average is $55.09. 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 issued its earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share (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 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 period last year, the business earned $1.60 EPS. As a group, research analysts forecast that Corteva, Inc. will post 2.66 EPS for the current fiscal year.

Corteva Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This is an increase from Corteva’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a dividend yield of 1.15%. 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.