Plancorp LLC Raises Holdings in Corteva, Inc. $CTVA

Plancorp LLC lifted its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 2.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,156 shares of the company’s stock after buying an additional 158 shares during the period. Plancorp LLC’s holdings in Corteva were worth $450,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Nissay Asset Management Corp Japan ADV raised its stake in shares of Corteva by 0.5% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 85,495 shares of the company’s stock worth $5,380,000 after buying an additional 460 shares in the last quarter. NewEdge Advisors LLC raised its stake in shares of Corteva by 0.5% during the 1st quarter. NewEdge Advisors LLC now owns 31,455 shares of the company’s stock worth $1,979,000 after buying an additional 152 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Corteva by 14.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 93,145 shares of the company’s stock worth $5,862,000 after buying an additional 12,078 shares in the last quarter. Integrated Wealth Concepts LLC increased its stake in Corteva by 6.2% in the 1st quarter. Integrated Wealth Concepts LLC now owns 22,110 shares of the company’s stock valued at $1,391,000 after purchasing an additional 1,290 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new position in Corteva in the 1st quarter valued at approximately $3,621,000. 81.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CTVA has been the topic of a number of research analyst reports. Barclays upgraded Corteva from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $75.00 to $84.00 in a research report on Wednesday, August 13th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Corteva in a research report on Monday, August 11th. Jefferies Financial Group reiterated a “buy” rating on shares of Corteva in a research report on Friday, June 6th. Wells Fargo & Company reiterated an “overweight” rating and set a $83.00 target price (up from $82.00) on shares of Corteva in a research report on Friday, August 8th. Finally, Wall Street Zen upgraded Corteva from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Thirteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $80.25.

Insider Buying and Selling

In related 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.14% of the company’s stock.

Corteva Stock Performance

NYSE CTVA opened at $72.24 on Friday. Corteva, Inc. has a fifty-two week low of $53.40 and a fifty-two week high of $77.41. The stock has a market cap of $49.06 billion, a price-to-earnings ratio of 35.24, a price-to-earnings-growth ratio of 1.65 and a beta of 0.78. The business has a fifty day moving average of $73.34 and a 200-day moving average of $67.80. The company has a quick ratio of 1.23, a current ratio of 1.68 and a debt-to-equity ratio of 0.06.

Corteva (NYSE:CTVA) last released its quarterly 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. 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 period in the previous year, the firm posted $1.83 earnings per share. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. As a group, analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be paid a $0.18 dividend. The ex-dividend date is Tuesday, September 2nd. This is an increase from Corteva’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 1.0%. Corteva’s payout ratio is currently 35.12%.

Corteva 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.