Tectonic Advisors LLC Sells 950 Shares of Corteva, Inc. $CTVA

Tectonic Advisors LLC decreased its position in Corteva, Inc. (NYSE:CTVA) by 7.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 11,231 shares of the company’s stock after selling 950 shares during the period. Tectonic Advisors LLC’s holdings in Corteva were worth $837,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in CTVA. Maryland Capital Advisors Inc. bought a new position in shares of Corteva in the second quarter worth approximately $29,000. Valley National Advisers Inc. grew its holdings in shares of 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 during the last quarter. Richardson Capital Management LLC bought a new position in shares of Corteva in the first quarter worth approximately $37,000. DHJJ Financial Advisors Ltd. grew its holdings in shares of Corteva by 132.2% in the second quarter. DHJJ Financial Advisors Ltd. now owns 527 shares of the company’s stock worth $39,000 after purchasing an additional 300 shares during the last quarter. Finally, von Borstel & Associates Inc. bought a new position in shares of Corteva in the first quarter worth approximately $44,000. Institutional investors own 81.54% of the company’s stock.

Insiders Place Their Bets

In other Corteva news, EVP Robert D. King sold 37,280 shares of the company’s stock in a transaction that occurred 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 $3,655,240.40. This represents a 43.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.14% of the stock is owned by insiders.

Corteva Stock Performance

Shares of CTVA stock opened at $62.76 on Friday. The company’s fifty day moving average price is $70.57 and its 200-day moving average price is $68.91. The company has a current ratio of 1.68, a quick ratio of 1.23 and a debt-to-equity ratio of 0.06. The stock has a market cap of $42.62 billion, a PE ratio of 30.61, a price-to-earnings-growth ratio of 1.43 and a beta of 0.76. Corteva, Inc. has a 12 month low of $53.40 and a 12 month high of $77.41.

Corteva (NYSE:CTVA) last issued 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 during 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%.Corteva’s revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.83 EPS. On average, equities analysts expect that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.1%. The ex-dividend date was Tuesday, September 2nd. This is a positive change from Corteva’s previous quarterly dividend of $0.17. Corteva’s dividend payout ratio is currently 35.12%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CTVA shares. Wells Fargo & Company restated an “overweight” rating and issued a $83.00 target price (up previously from $82.00) on shares of Corteva in a report on Friday, August 8th. Citigroup cut shares of Corteva from a “buy” rating to a “neutral” rating and cut their price target for the company from $83.00 to $70.00 in a report on Thursday, October 2nd. Royal Bank Of Canada reiterated an “outperform” rating on shares of Corteva in a report on Monday, August 11th. 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. Finally, JPMorgan Chase & Co. upgraded shares of Corteva from a “neutral” rating to an “overweight” rating and set a $67.00 price target on the stock in a report 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $80.13.

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.