Corteva, Inc. $CTVA Shares Acquired by Trust Co. of Vermont

Trust Co. of Vermont lifted its stake in shares of Corteva, Inc. (NYSE:CTVA) by 2.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 87,565 shares of the company’s stock after buying an additional 1,907 shares during the quarter. Trust Co. of Vermont’s holdings in Corteva were worth $6,526,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Peak Financial Advisors LLC acquired a new stake in shares of Corteva in the second quarter valued at approximately $505,000. Cary Street Partners Financial LLC raised its position in Corteva by 20.7% in the first quarter. Cary Street Partners Financial LLC now owns 90,206 shares of the company’s stock worth $5,677,000 after acquiring an additional 15,448 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Corteva by 28.6% in the first quarter. Goldman Sachs Group Inc. now owns 2,851,993 shares of the company’s stock worth $179,476,000 after acquiring an additional 634,938 shares in the last quarter. S.E.E.D. Planning Group LLC raised its position in Corteva by 70.3% in the second quarter. S.E.E.D. Planning Group LLC now owns 164,393 shares of the company’s stock worth $12,252,000 after acquiring an additional 67,869 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Corteva by 2.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,174,351 shares of the company’s stock valued at $262,692,000 after purchasing an additional 84,506 shares during the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on CTVA shares. UBS Group upped their target price on Corteva from $90.00 to $91.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Deutsche Bank Aktiengesellschaft increased their price objective on Corteva from $83.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, September 15th. Morgan Stanley set a $84.00 price objective on Corteva in a research note on Monday, September 15th. BMO Capital Markets set a $86.00 price target on Corteva in a research note on Monday, September 15th. Finally, Oppenheimer set a $87.00 price target on Corteva and gave the stock an “outperform” rating in a research note on Tuesday, July 15th. Thirteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $82.00.

Corteva Stock Performance

Corteva stock opened at $67.63 on Wednesday. The stock’s 50-day moving average is $71.89 and its 200-day moving average is $68.88. The company has a market cap of $45.93 billion, a price-to-earnings ratio of 32.99, a price-to-earnings-growth ratio of 1.55 and a beta of 0.78. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.68 and a quick ratio of 1.23. Corteva, Inc. has a 12 month low of $53.40 and a 12 month high of $77.41.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Wednesday, August 6th. The company reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.31. The company had revenue of $6.46 billion for the quarter, compared to the consensus estimate of $6.26 billion. Corteva had a return on equity of 8.68% and a net margin of 8.16%.The company’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period last year, the business posted $1.83 EPS. Equities analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Tuesday, September 2nd. This is an increase from Corteva’s previous quarterly dividend of $0.17. Corteva’s dividend payout ratio (DPR) is 35.12%.

Insider Activity at Corteva

In related news, EVP Robert D. King sold 37,280 shares of the firm’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the sale, the executive vice president directly owned 49,262 shares in the company, valued at approximately $3,655,240.40. This trade represents a 43.08% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.15% of the company’s stock.

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.