Whittier Trust Co. of Nevada Inc. Sells 329 Shares of Corteva, Inc. $CTVA

Whittier Trust Co. of Nevada Inc. decreased its position in shares of Corteva, Inc. (NYSE:CTVA) by 1.8% during the second quarter, Holdings Channel.com reports. The fund owned 18,004 shares of the company’s stock after selling 329 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Corteva were worth $1,342,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Moody National Bank Trust Division raised its stake in Corteva by 0.7% during the 2nd quarter. Moody National Bank Trust Division now owns 22,139 shares of the company’s stock worth $1,650,000 after acquiring an additional 143 shares during the period. Ancora Advisors LLC raised its stake in Corteva by 0.8% during the 1st quarter. Ancora Advisors LLC now owns 18,567 shares of the company’s stock worth $1,168,000 after acquiring an additional 150 shares during the period. NewEdge Advisors LLC raised its stake in 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 acquiring an additional 152 shares during the period. Plancorp LLC raised its stake in Corteva by 2.3% during the 1st quarter. Plancorp LLC now owns 7,156 shares of the company’s stock worth $450,000 after acquiring an additional 158 shares during the period. Finally, Legacy Financial Advisors Inc. raised its stake in Corteva by 4.4% during the 1st quarter. Legacy Financial Advisors Inc. now owns 3,761 shares of the company’s stock worth $237,000 after acquiring an additional 160 shares during the period. Institutional investors own 81.54% of the company’s stock.

Corteva Trading Up 1.7%

Shares of CTVA opened at $63.05 on Thursday. The company’s fifty day moving average is $68.86 and its 200 day moving average is $68.93. 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 $42.82 billion, a PE ratio of 30.76, a P/E/G ratio of 1.42 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 (NYSE:CTVA) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.31. Corteva had a net margin of 8.16% and a return on equity of 8.68%. The company had revenue of $6.46 billion for the quarter, compared to analysts’ expectations of $6.26 billion. During the same quarter in the previous year, the business posted $1.83 earnings per share. Corteva’s quarterly revenue was up 5.6% on a year-over-year basis. Sell-side analysts expect 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. Shareholders of record on Tuesday, September 2nd were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This is a positive change from Corteva’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 1.1%. Corteva’s payout ratio is presently 35.12%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group reduced their price objective on shares of Corteva from $85.00 to $77.00 and set a “buy” rating on the stock in a research report on Wednesday. Mizuho reduced their price objective on shares of Corteva from $85.00 to $78.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 8th. Royal Bank Of Canada reduced their price objective on shares of Corteva from $86.00 to $80.00 and set an “outperform” rating on the stock in a research report on Friday, October 17th. Weiss Ratings cut shares of Corteva from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, October 8th. Finally, Barclays upgraded shares of Corteva from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $75.00 to $84.00 in a research report on Wednesday, August 13th. One equities research 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, the company presently has an average rating of “Moderate Buy” and a consensus target price of $79.94.

Insider Buying and Selling

In other Corteva news, EVP Robert D. King sold 37,280 shares of Corteva stock in a transaction on Friday, August 29th. The shares were sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the completion of the transaction, the executive vice president directly 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.14% of the stock is owned by insiders.

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.