Ballentine Partners LLC Purchases 1,422 Shares of Corteva, Inc. (NYSE:CTVA)

Ballentine Partners LLC raised its position in shares of Corteva, Inc. (NYSE:CTVA) by 9.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,307 shares of the company’s stock after purchasing an additional 1,422 shares during the period. Ballentine Partners LLC’s holdings in Corteva were worth $959,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mediolanum International Funds Ltd bought a new stake in Corteva during the 1st quarter valued at $2,270,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Corteva by 14.7% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 948,127 shares of the company’s stock worth $54,678,000 after acquiring an additional 121,817 shares in the last quarter. Intech Investment Management LLC raised its position in shares of Corteva by 69.5% in the 1st quarter. Intech Investment Management LLC now owns 52,557 shares of the company’s stock worth $3,031,000 after acquiring an additional 21,545 shares in the last quarter. Illinois Municipal Retirement Fund raised its position in shares of Corteva by 295.9% in the 1st quarter. Illinois Municipal Retirement Fund now owns 94,896 shares of the company’s stock worth $5,473,000 after acquiring an additional 70,924 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of Corteva by 75.5% in the 1st quarter. BNP Paribas Financial Markets now owns 633,117 shares of the company’s stock worth $36,512,000 after acquiring an additional 272,461 shares in the last quarter. 81.54% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on CTVA shares. KeyCorp reduced their price target on Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Morgan Stanley reissued an “overweight” rating and issued a $65.00 price target on shares of Corteva in a research report on Tuesday, September 24th. JPMorgan Chase & Co. reduced their price target on Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Bank of America raised Corteva from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $59.00 to $67.00 in a research report on Wednesday, October 16th. Finally, Citigroup started coverage on Corteva in a research note on Wednesday. They set a “buy” rating and a $68.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $62.84.

Corteva Stock Down 0.7 %

Corteva stock opened at $60.35 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.17 and a current ratio of 1.72. The business’s 50-day simple moving average is $57.13 and its two-hundred day simple moving average is $55.17. The company has a market cap of $42.06 billion, a PE ratio of 76.39, a PEG ratio of 1.66 and a beta of 0.77. Corteva, Inc. has a fifty-two week low of $43.22 and a fifty-two week high of $61.21.

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.09. The business had revenue of $6.11 billion for 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%. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.60 EPS. Equities analysts anticipate that Corteva, Inc. will post 2.66 EPS for the current year.

Corteva Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.13%. The ex-dividend date was Tuesday, September 3rd. This is a boost from Corteva’s previous quarterly dividend of $0.16. Corteva’s payout ratio is 86.08%.

Corteva Company Profile

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.