3,207 Shares in Corteva, Inc. $CTVA Bought by Franklin Street Advisors Inc. NC

Franklin Street Advisors Inc. NC acquired a new position in Corteva, Inc. (NYSE:CTVA) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,207 shares of the company’s stock, valued at approximately $239,000.

A number of other large investors have also recently bought and sold shares of CTVA. Maryland Capital Advisors Inc. bought a new stake in Corteva in the second quarter worth $29,000. Valley National Advisers Inc. boosted its holdings in Corteva by 85.9% in the first quarter. Valley National Advisers Inc. now owns 526 shares of the company’s stock worth $33,000 after purchasing an additional 243 shares in the last quarter. Richardson Capital Management LLC acquired a new position in Corteva during the 1st quarter worth $37,000. DHJJ Financial Advisors Ltd. boosted its holdings in Corteva by 132.2% during the second quarter. DHJJ Financial Advisors Ltd. now owns 527 shares of the company’s stock valued at $39,000 after acquiring an additional 300 shares during the period. Finally, von Borstel & Associates Inc. bought a new stake in Corteva during the first quarter valued at about $44,000. 81.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company restated an “overweight” rating and set a $83.00 price target (up from $82.00) on shares of Corteva in a report on Friday, August 8th. Weiss Ratings restated a “buy (b-)” rating on shares of Corteva in a report on Saturday, September 27th. Oppenheimer set a $87.00 price target on shares of Corteva and gave the company an “outperform” rating in a report on Tuesday, July 15th. Zacks Research upgraded shares of Corteva from a “hold” rating to a “strong-buy” rating in a report on Wednesday. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Corteva in a report on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $80.67.

Insiders Place Their Bets

In related news, EVP Robert D. King sold 37,280 shares of the company’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $74.20, for a total value of $2,766,176.00. Following the sale, the executive vice president owned 49,262 shares of the company’s stock, valued at $3,655,240.40. The trade was a 43.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.14% of the stock is currently owned by insiders.

Corteva Stock Down 0.2%

Shares of CTVA opened at $63.36 on Friday. The company has a 50-day simple moving average of $71.24 and a 200-day simple moving average of $68.85. The firm has a market capitalization of $43.03 billion, a P/E ratio of 30.91, a P/E/G ratio of 1.43 and a beta of 0.76. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.23 and a current ratio of 1.68. Corteva, Inc. has a 52 week low of $53.40 and a 52 week high of $77.41.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.31. The business had revenue of $6.46 billion during the quarter, compared to analyst estimates of $6.26 billion. Corteva had a net margin of 8.16% and a return on equity of 8.68%. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.83 earnings per share. On average, equities research analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were paid a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This is an increase from Corteva’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a yield of 1.1%. Corteva’s payout ratio is presently 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.