LifePlan Financial LLC Acquires New Stake in Corteva, Inc. (NYSE:CTVA)

LifePlan Financial LLC bought a new stake in Corteva, Inc. (NYSE:CTVA) in the 3rd quarter, Holdings Channel reports. The institutional investor bought 8,665 shares of the company’s stock, valued at approximately $509,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Redmont Wealth Advisors LLC purchased a new stake in shares of Corteva during the first quarter worth about $25,000. Acadian Asset Management LLC purchased a new stake in Corteva in the 1st quarter worth approximately $25,000. Rise Advisors LLC raised its holdings in Corteva by 2,522.2% in the 1st quarter. Rise Advisors LLC now owns 472 shares of the company’s stock valued at $27,000 after acquiring an additional 454 shares during the last quarter. Scarborough Advisors LLC purchased a new position in shares of Corteva during the 4th quarter worth $29,000. Finally, Albion Financial Group UT boosted its holdings in shares of Corteva by 77.2% during the first quarter. Albion Financial Group UT now owns 505 shares of the company’s stock worth $29,000 after purchasing an additional 220 shares during the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Corteva Trading Down 0.9 %

Shares of CTVA opened at $58.12 on Friday. Corteva, Inc. has a 12 month low of $43.22 and a 12 month high of $59.08. The stock’s 50-day moving average is $55.33 and its two-hundred day moving average is $54.97. 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 stock has a market cap of $40.51 billion, a PE ratio of 73.57, a P/E/G ratio of 1.68 and a beta of 0.77.

Corteva (NYSE:CTVA) last released 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. The firm had revenue of $6.11 billion for the quarter, compared to analyst estimates of $6.15 billion. Corteva had a return on equity of 7.30% and a net margin of 5.31%. Corteva’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.60 EPS. Equities analysts forecast that Corteva, Inc. will post 2.69 earnings per share for the current fiscal year.

Corteva Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a $0.17 dividend. The ex-dividend date 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 1.17%. Corteva’s dividend payout ratio is 86.08%.

Wall Street Analysts Forecast Growth

CTVA has been the subject of several analyst reports. Morgan Stanley reiterated an “overweight” rating and issued a $65.00 target price on shares of Corteva in a research note on Tuesday, September 24th. OTR Global reaffirmed a “negative” rating on shares of Corteva in a research note on Friday, June 7th. KeyCorp decreased their target price on shares of 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. dropped 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, Argus lowered shares of Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $61.94.

Corteva 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.