Corteva, Inc. $CTVA Shares Sold by Glass Wealth Management Co LLC

Glass Wealth Management Co LLC reduced its stake in shares of Corteva, Inc. (NYSE:CTVA) by 4.0% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 30,872 shares of the company’s stock after selling 1,291 shares during the quarter. Corteva comprises 1.2% of Glass Wealth Management Co LLC’s portfolio, making the stock its 28th biggest holding. Glass Wealth Management Co LLC’s holdings in Corteva were worth $2,301,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Maryland Capital Advisors Inc. acquired a new position in Corteva during the second quarter worth about $29,000. Valley National Advisers Inc. grew its position in Corteva by 85.9% during the first quarter. Valley National Advisers Inc. now owns 526 shares of the company’s stock worth $33,000 after buying an additional 243 shares during the period. DHJJ Financial Advisors Ltd. grew its position in Corteva by 132.2% during the second quarter. DHJJ Financial Advisors Ltd. now owns 527 shares of the company’s stock worth $39,000 after buying an additional 300 shares during the period. Richardson Capital Management LLC acquired a new position in Corteva during the first quarter worth about $37,000. Finally, von Borstel & Associates Inc. acquired a new position in Corteva during the first quarter worth about $44,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Stock Down 0.2%

Shares of NYSE CTVA opened at $63.36 on Monday. Corteva, Inc. has a 1 year low of $53.40 and a 1 year high of $77.41. The firm’s 50 day moving average price is $71.24 and its 200 day moving average price is $68.95. The firm has a market cap of $43.03 billion, a P/E ratio of 30.91, a price-to-earnings-growth ratio of 1.43 and a beta of 0.76. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.23 and a current ratio of 1.68.

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

Corteva Increases Dividend

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

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Citigroup lowered shares of Corteva from a “buy” rating to a “neutral” rating and lowered their price target for the company from $83.00 to $70.00 in a research report on Thursday. Jefferies Financial Group lowered their price target on shares of Corteva from $92.00 to $85.00 in a research report on Thursday. Wall Street Zen upgraded shares of Corteva from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Corteva from $83.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, September 15th. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $83.00 price target (up from $82.00) on shares of Corteva in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Corteva presently has an average rating of “Moderate Buy” and a consensus target price of $80.67.

Insiders Place Their Bets

In other Corteva news, EVP Robert D. King sold 37,280 shares of the stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the transaction, the executive vice president owned 49,262 shares of the company’s stock, valued at $3,655,240.40. This trade represents a 43.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.15% of the stock is currently 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.