Wealth Enhancement Advisory Services LLC Decreases Stock Position in Corteva, Inc. (NYSE:CTVA)

Wealth Enhancement Advisory Services LLC lowered its stake in Corteva, Inc. (NYSE:CTVA) by 2.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 121,015 shares of the company’s stock after selling 2,606 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Corteva were worth $7,114,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in CTVA. Pinnacle Bancorp Inc. grew its holdings in Corteva by 26.1% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 962 shares of the company’s stock valued at $57,000 after purchasing an additional 199 shares during the last quarter. Herr Investment Group LLC grew its stake in Corteva by 2.8% in the 1st quarter. Herr Investment Group LLC now owns 7,400 shares of the company’s stock worth $427,000 after acquiring an additional 200 shares in the last quarter. Azzad Asset Management Inc. ADV grew its stake in Corteva by 0.4% in the 2nd quarter. Azzad Asset Management Inc. ADV now owns 48,200 shares of the company’s stock worth $2,600,000 after acquiring an additional 203 shares in the last quarter. Westhampton Capital LLC grew its stake in Corteva by 2.5% in the 3rd quarter. Westhampton Capital LLC now owns 8,641 shares of the company’s stock worth $508,000 after acquiring an additional 213 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in Corteva by 1.3% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 17,986 shares of the company’s stock worth $1,037,000 after acquiring an additional 227 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CTVA shares. KeyCorp dropped their target price on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Argus cut shares of Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Bank of America raised shares of Corteva from a “neutral” rating to a “buy” rating and upped their price target for the stock from $59.00 to $67.00 in a research report on Wednesday, October 16th. JPMorgan Chase & Co. lowered their price target 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. Finally, Citigroup assumed coverage on shares of Corteva in a research report on Wednesday, October 23rd. They issued a “buy” rating and a $68.00 price target for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.84.

Corteva Trading Up 1.3 %

Shares of Corteva stock opened at $61.57 on Thursday. 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, Inc. has a 12-month low of $43.22 and a 12-month high of $62.38. The firm has a market capitalization of $42.91 billion, a price-to-earnings ratio of 77.94, a PEG ratio of 1.66 and a beta of 0.77. The firm’s 50 day simple moving average is $57.56 and its two-hundred day simple moving average is $55.29.

Corteva (NYSE:CTVA) last issued its quarterly 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 net margin of 5.31% and a return on equity of 7.30%. The business had revenue of $6.11 billion for the quarter, compared to analyst estimates of $6.15 billion. During the same quarter in the prior year, the business posted $1.60 EPS. Corteva’s revenue for the quarter was up 1.1% compared to the same quarter last year. Analysts predict that Corteva, Inc. will post 2.66 EPS for the current year.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.17 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.68 dividend on an annualized basis and a yield of 1.10%. Corteva’s payout ratio is 86.08%.

About Corteva

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.