Wilmington Savings Fund Society FSB Boosts Stock Position in Corteva, Inc. $CTVA

Wilmington Savings Fund Society FSB boosted its holdings in Corteva, Inc. (NYSE:CTVA) by 1.3% during the 2nd quarter, Holdings Channel reports. The firm owned 40,268 shares of the company’s stock after acquiring an additional 526 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Corteva were worth $3,001,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Maryland Capital Advisors Inc. purchased a new position in shares of Corteva during the 2nd quarter valued at $29,000. Valley National Advisers Inc. lifted its position in shares of Corteva by 85.9% during the 1st quarter. Valley National Advisers Inc. now owns 526 shares of the company’s stock valued at $33,000 after buying an additional 243 shares during the last quarter. Richardson Capital Management LLC purchased a new position in shares of Corteva during the 1st quarter valued at $37,000. DHJJ Financial Advisors Ltd. lifted 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 buying an additional 300 shares during the last quarter. Finally, von Borstel & Associates Inc. purchased a new position in shares of Corteva during the 1st quarter valued at $44,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Insider Activity

In other news, EVP Robert D. King sold 37,280 shares of the company’s stock in a transaction dated 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 transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.15% of the company’s stock.

Corteva Price Performance

Shares of NYSE CTVA opened at $62.68 on Wednesday. The firm has a market capitalization of $42.56 billion, a P/E ratio of 30.57, a P/E/G ratio of 1.42 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. The stock’s 50-day simple moving average is $70.00 and its two-hundred day simple moving average is $68.96. Corteva, Inc. has a twelve month low of $53.40 and a twelve month high of $77.41.

Corteva (NYSE:CTVA) last announced its earnings results on Wednesday, August 6th. The company reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.31. The business had revenue of $6.46 billion for the quarter, compared to analyst estimates 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 in the prior year, the company earned $1.83 EPS. As a group, equities analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis 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 currently 35.12%.

Analyst Ratings Changes

CTVA has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft upped their price target on Corteva from $83.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, September 15th. Citigroup cut Corteva from a “buy” rating to a “neutral” rating and dropped their price target for the company from $83.00 to $70.00 in a research report on Thursday, October 2nd. Mizuho decreased their price objective on Corteva from $85.00 to $78.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 8th. BMO Capital Markets set a $86.00 price objective on Corteva in a research note on Monday, September 15th. Finally, Jefferies Financial Group decreased their price objective on Corteva from $92.00 to $85.00 in a research note on Thursday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $80.81.

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.