Venturi Wealth Management LLC Sells 547 Shares of Corteva, Inc. $CTVA

Venturi Wealth Management LLC decreased its position in Corteva, Inc. (NYSE:CTVA) by 7.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,834 shares of the company’s stock after selling 547 shares during the quarter. Venturi Wealth Management LLC’s holdings in Corteva were worth $509,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Corteva by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 79,814,646 shares of the company’s stock worth $5,022,736,000 after acquiring an additional 639,799 shares during the last quarter. Independent Franchise Partners LLP increased its stake in Corteva by 1.8% in the 1st quarter. Independent Franchise Partners LLP now owns 16,785,300 shares of the company’s stock worth $1,056,299,000 after acquiring an additional 288,792 shares during the last quarter. Northern Trust Corp increased its stake in Corteva by 1.0% in the 1st quarter. Northern Trust Corp now owns 11,759,755 shares of the company’s stock worth $740,041,000 after acquiring an additional 110,865 shares during the last quarter. Nuveen LLC purchased a new position in shares of Corteva in the 1st quarter worth approximately $640,333,000. Finally, WCM Investment Management LLC boosted its holdings in shares of Corteva by 1.4% in the 1st quarter. WCM Investment Management LLC now owns 6,978,187 shares of the company’s stock worth $426,088,000 after purchasing an additional 98,770 shares during the period. Institutional investors own 81.54% of the company’s stock.

Insider Buying and Selling at Corteva

In other Corteva news, EVP Robert D. King sold 37,280 shares of the company’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $74.20, for a total value of $2,766,176.00. Following the completion of the sale, the executive vice president directly owned 49,262 shares in the company, valued at approximately $3,655,240.40. This represents a 43.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CTVA shares. Mizuho dropped their target price on Corteva from $85.00 to $78.00 and set an “outperform” rating for the company in a report on Wednesday. Wall Street Zen upgraded Corteva from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Oppenheimer set a $87.00 target price on Corteva and gave the stock an “outperform” rating in a report on Tuesday, July 15th. BMO Capital Markets set a $86.00 target price on Corteva in a report on Monday, September 15th. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $83.00 target price (up previously from $82.00) on shares of Corteva in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $80.13.

Corteva Price Performance

CTVA opened at $62.76 on Friday. The business has a fifty day moving average of $70.57 and a 200 day moving average of $68.91. Corteva, Inc. has a 52-week low of $53.40 and a 52-week high of $77.41. The company has a quick ratio of 1.23, a current ratio of 1.68 and a debt-to-equity ratio of 0.06. The stock has a market cap of $42.62 billion, a P/E ratio of 30.61, a PEG ratio of 1.43 and a beta of 0.76.

Corteva (NYSE:CTVA) last posted its quarterly earnings data 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. Corteva had a return on equity of 8.68% and a net margin of 8.16%.The company had revenue of $6.46 billion during the quarter, compared to analysts’ expectations of $6.26 billion. During the same quarter in the previous year, the business earned $1.83 EPS. 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 EPS for the current year.

Corteva Increases Dividend

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

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.