Greenleaf Trust Reduces Stock Position in Corteva, Inc. (NYSE:CTVA)

Greenleaf Trust lessened its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 4.9% during the third quarter, Holdings Channel reports. The firm owned 16,862 shares of the company’s stock after selling 861 shares during the quarter. Greenleaf Trust’s holdings in Corteva were worth $991,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CTVA. Redmont Wealth Advisors LLC purchased a new position in shares of Corteva during the first quarter valued at approximately $25,000. Acadian Asset Management LLC bought a new stake in Corteva in the first quarter valued at $25,000. Albion Financial Group UT increased its position in Corteva by 77.2% during the 1st quarter. Albion Financial Group UT now owns 505 shares of the company’s stock valued at $29,000 after purchasing an additional 220 shares during the period. Cultivar Capital Inc. bought a new position in Corteva in the 2nd quarter worth $34,000. Finally, Redwood Wealth Management Group LLC purchased a new stake in shares of Corteva in the 2nd quarter worth about $43,000. Institutional investors own 81.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CTVA shares. Bank of America upgraded shares of Corteva from a “neutral” rating to a “buy” rating and boosted their price target for the company from $59.00 to $67.00 in a research report on Wednesday, October 16th. Argus lowered Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Wells Fargo & Company dropped their price target on Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Morgan Stanley reiterated an “overweight” rating and issued a $65.00 price objective on shares of Corteva in a report on Tuesday, September 24th. Finally, JPMorgan Chase & Co. lowered their price objective on Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $62.84.

Corteva Stock Performance

Shares of CTVA opened at $60.79 on Friday. Corteva, Inc. has a 12 month low of $43.22 and a 12 month high of $61.20. The business’s fifty day simple moving average is $56.84 and its two-hundred day simple moving average is $55.13. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.10. The company has a market cap of $42.37 billion, a price-to-earnings ratio of 76.95, a P/E/G ratio of 1.66 and a beta of 0.77.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Wednesday, July 31st. The company reported $1.83 EPS for the quarter, topping the consensus estimate of $1.74 by $0.09. The company had revenue of $6.11 billion during the quarter, compared to the consensus estimate of $6.15 billion. Corteva had a return on equity of 7.30% and a net margin of 5.31%. Corteva’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period last year, the company earned $1.60 EPS. Research analysts anticipate that Corteva, Inc. will post 2.66 earnings per share for the current fiscal year.

Corteva Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a dividend of $0.17 per share. This is an increase from Corteva’s previous quarterly dividend of $0.16. The ex-dividend date was Tuesday, September 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.12%. Corteva’s dividend payout ratio is 86.08%.

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.