Corteva, Inc. $CTVA Stock Position Lifted by Empowered Funds LLC

Empowered Funds LLC lifted its stake in shares of Corteva, Inc. (NYSE:CTVA) by 122.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 68,012 shares of the company’s stock after purchasing an additional 37,487 shares during the quarter. Empowered Funds LLC’s holdings in Corteva were worth $5,069,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Gladwyn Financial Advisors Inc. acquired a new stake in shares of Corteva in the second quarter valued at $25,000. Curat Global LLC raised its position in Corteva by 93.7% in the second quarter. Curat Global LLC now owns 370 shares of the company’s stock worth $28,000 after acquiring an additional 179 shares in the last quarter. Maryland Capital Advisors Inc. acquired a new stake in Corteva in the 2nd quarter valued at about $29,000. Princeton Global Asset Management LLC lifted its holdings in Corteva by 61.5% in the 2nd quarter. Princeton Global Asset Management LLC now owns 525 shares of the company’s stock valued at $39,000 after acquiring an additional 200 shares during the last quarter. Finally, DHJJ Financial Advisors Ltd. boosted its position in shares of Corteva by 132.2% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 527 shares of the company’s stock valued at $39,000 after purchasing an additional 300 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Wall Street Analyst Weigh In

CTVA has been the subject of several recent research reports. Barclays raised shares of Corteva from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $75.00 to $84.00 in a research note on Wednesday, August 13th. Citigroup upped their price target on Corteva from $67.00 to $68.00 and gave the company a “neutral” rating in a report on Thursday, November 6th. Royal Bank Of Canada reduced their price objective on Corteva from $86.00 to $80.00 and set an “outperform” rating for the company in a research note on Friday, October 17th. KeyCorp restated a “sector weight” rating on shares of Corteva in a report on Friday, October 3rd. Finally, Zacks Research lowered Corteva from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 30th. Fifteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $78.05.

Corteva Stock Up 1.8%

Shares of Corteva stock opened at $65.55 on Friday. The firm has a market cap of $44.29 billion, a price-to-earnings ratio of 28.01, a P/E/G ratio of 1.46 and a beta of 0.81. The stock has a 50-day simple moving average of $64.86 and a 200-day simple moving average of $69.63. Corteva, Inc. has a 52-week low of $53.40 and a 52-week high of $77.41. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.58 and a quick ratio of 1.07.

Corteva (NYSE:CTVA) last released its quarterly earnings results on Tuesday, November 4th. The company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.26. Corteva had a net margin of 9.19% and a return on equity of 9.37%. The business had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter last year, the firm earned ($0.49) EPS. Corteva’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, equities research analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.1%. The ex-dividend date is Monday, December 1st. Corteva’s dividend payout ratio is presently 30.77%.

Insiders Place Their Bets

In other news, EVP Robert D. King sold 37,280 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $3,655,240.40. The trade was a 43.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.14% of the stock is currently owned by company 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.