Dynamic Advisor Solutions LLC Sells 216 Shares of Corteva, Inc. (NYSE:CTVA)

Dynamic Advisor Solutions LLC trimmed its holdings in Corteva, Inc. (NYSE:CTVA) by 5.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,618 shares of the company’s stock after selling 216 shares during the period. Dynamic Advisor Solutions LLC’s holdings in Corteva were worth $213,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital International Investors increased its position in Corteva by 2.6% during the first quarter. Capital International Investors now owns 26,437,457 shares of the company’s stock worth $1,524,648,000 after buying an additional 678,722 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Corteva by 7.2% during the 1st quarter. Van ECK Associates Corp now owns 9,145,282 shares of the company’s stock valued at $527,409,000 after acquiring an additional 617,030 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Corteva by 28.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,842,907 shares of the company’s stock valued at $369,106,000 after acquiring an additional 1,514,954 shares in the last quarter. Legal & General Group Plc lifted its holdings in Corteva by 0.9% in the 2nd quarter. Legal & General Group Plc now owns 6,741,972 shares of the company’s stock worth $363,662,000 after purchasing an additional 61,127 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Corteva by 5.1% during the second quarter. Dimensional Fund Advisors LP now owns 4,649,450 shares of the company’s stock worth $250,786,000 after purchasing an additional 224,423 shares during the period. Institutional investors own 81.54% of the company’s stock.

Corteva Price Performance

Shares of Corteva stock opened at $56.84 on Monday. The firm has a market cap of $39.62 billion, a P/E ratio of 71.95, a price-to-earnings-growth ratio of 1.66 and a beta of 0.77. The firm’s 50-day simple moving average is $55.64 and its 200-day simple moving average is $55.02. Corteva, Inc. has a twelve month low of $43.22 and a twelve month high of $59.08. 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 released its quarterly earnings data on Wednesday, July 31st. The company reported $1.83 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.09. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The company had revenue of $6.11 billion for the quarter, compared to the consensus estimate of $6.15 billion. During the same period in the previous year, the business earned $1.60 earnings per share. The company’s quarterly revenue was up 1.1% on a year-over-year basis. As a group, research analysts expect that Corteva, Inc. will post 2.66 EPS for the current fiscal year.

Corteva Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.17 per share. The ex-dividend date was Tuesday, September 3rd. This is a boost from Corteva’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.20%. Corteva’s dividend payout ratio (DPR) is presently 86.08%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Argus lowered shares of Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Wells Fargo & Company cut their target price 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. Mizuho lowered their price target on Corteva from $61.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, June 18th. KeyCorp cut their price objective on Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $65.00 target price on shares of Corteva in a report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $61.94.

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.