Corteva, Inc. (NYSE:CTVA) Shares Sold by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. lessened its position in shares of Corteva, Inc. (NYSE:CTVA) by 7.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,808 shares of the company’s stock after selling 1,987 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Corteva were worth $1,338,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in CTVA. &PARTNERS increased its holdings in shares of Corteva by 4.3% in the 1st quarter. &PARTNERS now owns 4,829 shares of the company’s stock valued at $278,000 after acquiring an additional 200 shares during the period. Herr Investment Group LLC increased its stake in Corteva by 2.8% in the first quarter. Herr Investment Group LLC now owns 7,400 shares of the company’s stock valued at $427,000 after purchasing an additional 200 shares during the period. Azzad Asset Management Inc. ADV increased its stake in Corteva by 0.4% in the second quarter. Azzad Asset Management Inc. ADV now owns 48,200 shares of the company’s stock valued at $2,600,000 after purchasing an additional 203 shares during the period. Albion Financial Group UT raised its holdings in shares of Corteva by 77.2% in the first quarter. Albion Financial Group UT now owns 505 shares of the company’s stock valued at $29,000 after buying an additional 220 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Corteva by 1.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 17,986 shares of the company’s stock worth $1,037,000 after buying an additional 227 shares during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.

Wall Street Analysts Forecast Growth

CTVA has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $65.00 price target on shares of Corteva in a research report on Wednesday, June 12th. Argus cut Corteva from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Royal Bank of Canada increased their price target on Corteva from $62.00 to $64.00 and gave the stock an “outperform” rating in a report on Monday, May 6th. Wells Fargo & Company dropped their price objective on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Finally, Mizuho cut their price objective on shares of Corteva from $61.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, June 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Corteva has a consensus rating of “Moderate Buy” and a consensus price target of $61.67.

Corteva Trading Up 0.5 %

Shares of CTVA opened at $57.30 on Friday. Corteva, Inc. has a twelve month low of $43.22 and a twelve month high of $58.76. The company has a current ratio of 1.72, a quick ratio of 0.97 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $39.94 billion, a P/E ratio of 72.53, a PEG ratio of 1.46 and a beta of 0.77. The firm’s 50-day moving average is $53.58 and its two-hundred day moving average is $54.56.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $1.83 EPS for the quarter, topping the consensus estimate of $1.74 by $0.09. Corteva had a return on equity of 7.30% and a net margin of 5.31%. 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 previous year, the company earned $1.60 EPS. The company’s quarterly revenue was up 1.1% on a year-over-year basis. On average, research analysts predict that Corteva, Inc. will post 2.73 earnings per share for the current fiscal year.

Corteva Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be given a $0.17 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.19%. This is a boost from Corteva’s previous quarterly dividend of $0.16. Corteva’s dividend payout ratio (DPR) is currently 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.