Davidson Investment Advisors Grows Position in Corteva, Inc. $CTVA

Davidson Investment Advisors increased its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 1.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 250,008 shares of the company’s stock after buying an additional 3,155 shares during the period. Davidson Investment Advisors’ holdings in Corteva were worth $18,633,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the company. Moody National Bank Trust Division increased its position in shares of Corteva by 0.7% during the 2nd quarter. Moody National Bank Trust Division now owns 22,139 shares of the company’s stock valued at $1,650,000 after purchasing an additional 143 shares during the period. Ancora Advisors LLC grew its holdings in shares of Corteva by 0.8% during the first quarter. Ancora Advisors LLC now owns 18,567 shares of the company’s stock valued at $1,168,000 after buying an additional 150 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of Corteva by 0.5% during the first quarter. NewEdge Advisors LLC now owns 31,455 shares of the company’s stock valued at $1,979,000 after buying an additional 152 shares in the last quarter. Plancorp LLC grew its holdings in shares of Corteva by 2.3% during the first quarter. Plancorp LLC now owns 7,156 shares of the company’s stock valued at $450,000 after buying an additional 158 shares in the last quarter. Finally, Legacy Financial Advisors Inc. boosted its position in Corteva by 4.4% during the first quarter. Legacy Financial Advisors Inc. now owns 3,761 shares of the company’s stock valued at $237,000 after purchasing an additional 160 shares during the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

Corteva Price Performance

Shares of NYSE CTVA opened at $61.94 on Thursday. 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 capitalization of $42.06 billion, a price-to-earnings ratio of 30.22, a PEG ratio of 1.42 and a beta of 0.76. The business has a 50-day moving average of $69.82 and a 200-day moving average of $68.91. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.68 and a quick ratio of 1.23.

Corteva (NYSE:CTVA) last issued its earnings results on Wednesday, August 6th. The company reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.31. The business had revenue of $6.46 billion during the quarter, compared to the consensus estimate of $6.26 billion. Corteva had a net margin of 8.16% and a return on equity of 8.68%. Corteva’s revenue was up 5.6% on a year-over-year basis. During the same period last year, the business posted $1.83 EPS. As a group, sell-side analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.2%. This is a positive change from Corteva’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Tuesday, September 2nd. Corteva’s payout ratio is 35.12%.

Insider Transactions at Corteva

In related news, EVP Robert D. King sold 37,280 shares of Corteva stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 49,262 shares of the company’s stock, valued at $3,655,240.40. This trade represents a 43.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.14% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Mizuho reduced their price target on Corteva from $85.00 to $78.00 and set an “outperform” rating for the company in a research report on Wednesday, October 8th. Royal Bank Of Canada restated an “outperform” rating on shares of Corteva in a research note on Monday, August 11th. Argus lowered their price objective on Corteva from $83.00 to $80.00 and set a “buy” rating on the stock in a research note on Monday. Zacks Research raised Corteva from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 1st. Finally, Oppenheimer set a $87.00 price objective on Corteva and gave the stock an “outperform” rating in a report on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.81.

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.