Signaturefd LLC Sells 224 Shares of Corteva, Inc. (NYSE:CTVA)

Signaturefd LLC trimmed its stake in Corteva, Inc. (NYSE:CTVA) by 2.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,955 shares of the company’s stock after selling 224 shares during the period. Signaturefd LLC’s holdings in Corteva were worth $526,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Redmont Wealth Advisors LLC bought a new stake in shares of Corteva during the 1st quarter worth approximately $25,000. Acadian Asset Management LLC bought a new stake in shares of Corteva during the 1st quarter worth approximately $25,000. Albion Financial Group UT lifted its stake in shares of 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 acquiring an additional 220 shares during the last quarter. Cultivar Capital Inc. bought a new stake in shares of Corteva during the 2nd quarter worth approximately $34,000. Finally, Redwood Wealth Management Group LLC bought a new stake in shares of Corteva during the 2nd quarter worth approximately $43,000. 81.54% of the stock is owned by institutional investors.

Corteva Stock Down 0.7 %

Shares of CTVA stock opened at $60.35 on Friday. Corteva, Inc. has a 1-year low of $43.22 and a 1-year high of $61.21. The stock’s fifty day moving average price is $57.00 and its 200 day moving average price is $55.17. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.72 and a quick ratio of 1.17. The company has a market cap of $42.06 billion, a price-to-earnings ratio of 76.39, a price-to-earnings-growth ratio of 1.66 and a beta of 0.77.

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.09. The business had revenue of $6.11 billion for the quarter, compared to the consensus estimate of $6.15 billion. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.60 EPS. On average, research analysts expect that Corteva, Inc. will post 2.66 earnings per share for the current fiscal year.

Corteva Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend was Tuesday, September 3rd. This is an increase from Corteva’s previous quarterly dividend of $0.16. Corteva’s payout ratio is presently 86.08%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CTVA. Morgan Stanley reissued an “overweight” rating and set a $65.00 price target on shares of Corteva in a research note on Tuesday, September 24th. Argus lowered Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Bank of America raised Corteva from a “neutral” rating to a “buy” rating and lifted their target price for the company from $59.00 to $67.00 in a research report on Wednesday, October 16th. Wells Fargo & Company decreased their target price on Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Finally, KeyCorp decreased their target price on Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.84.

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.