Corteva, Inc. $CTVA Position Reduced by Howard Capital Management Inc.

Howard Capital Management Inc. trimmed its stake in shares of Corteva, Inc. (NYSE:CTVA) by 12.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,903 shares of the company’s stock after selling 561 shares during the quarter. Howard Capital Management Inc.’s holdings in Corteva were worth $291,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Moody National Bank Trust Division raised its holdings in shares of Corteva by 0.7% during the second quarter. Moody National Bank Trust Division now owns 22,139 shares of the company’s stock worth $1,650,000 after purchasing an additional 143 shares during the period. Ancora Advisors LLC raised its holdings in shares of Corteva by 0.8% during the first quarter. Ancora Advisors LLC now owns 18,567 shares of the company’s stock worth $1,168,000 after purchasing an additional 150 shares during the period. NORTHSTAR ASSET MANAGEMENT Co raised its holdings in shares of Corteva by 2.2% during the second quarter. NORTHSTAR ASSET MANAGEMENT Co now owns 6,940 shares of the company’s stock worth $517,000 after purchasing an additional 150 shares during the period. NewEdge Advisors LLC raised its holdings in shares of Corteva by 0.5% during the first quarter. NewEdge Advisors LLC now owns 31,455 shares of the company’s stock worth $1,979,000 after purchasing an additional 152 shares during the period. Finally, Plancorp LLC raised its holdings in shares of Corteva by 2.3% during the first quarter. Plancorp LLC now owns 7,156 shares of the company’s stock worth $450,000 after purchasing an additional 158 shares during the period. 81.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Mizuho dropped their target price on shares of Corteva from $85.00 to $78.00 and set an “outperform” rating on the stock in a report on Wednesday, October 8th. Citigroup cut shares of Corteva from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $83.00 to $70.00 in a report on Thursday, October 2nd. JPMorgan Chase & Co. raised shares of Corteva from a “neutral” rating to an “overweight” rating and set a $67.00 price objective on the stock in a report on Thursday, October 2nd. Wells Fargo & Company reduced their target price on shares of Corteva from $83.00 to $80.00 and set an “overweight” rating for the company in a research note on Thursday, October 16th. Finally, BMO Capital Markets set a $86.00 target price on shares of Corteva in a research note on Monday, September 15th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Corteva presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.69.

Corteva Stock Performance

Shares of CTVA opened at $61.62 on Friday. The firm has a 50-day moving average price of $67.76 and a 200 day moving average price of $69.25. The firm has a market capitalization of $41.84 billion, a PE ratio of 30.06, a P/E/G ratio of 1.44 and a beta of 0.76. The company has a quick ratio of 1.23, a current ratio of 1.68 and a debt-to-equity ratio of 0.06. Corteva, Inc. has a 52-week low of $53.40 and a 52-week high of $77.41.

Corteva (NYSE:CTVA) last announced its earnings results on Wednesday, August 6th. The company reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.31. The firm had revenue of $6.46 billion during the quarter, compared to analyst estimates of $6.26 billion. Corteva had a net margin of 8.16% and a return on equity of 8.68%. Corteva’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.83 EPS. On average, sell-side analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Insider Transactions at Corteva

In related news, EVP Robert D. King sold 37,280 shares of the stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $74.20, for a total value of $2,766,176.00. Following the completion of the transaction, the executive vice president owned 49,262 shares in the company, valued at $3,655,240.40. This represents a 43.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.14% of the stock is owned by corporate insiders.

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.