Blue Trust Inc. Sells 199 Shares of Corteva, Inc. $CTVA

Blue Trust Inc. reduced its position in Corteva, Inc. (NYSE:CTVA) by 1.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 11,260 shares of the company’s stock after selling 199 shares during the period. Blue Trust Inc.’s holdings in Corteva were worth $839,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CTVA. Nuveen LLC bought a new stake in Corteva in the 1st quarter valued at about $640,333,000. Assenagon Asset Management S.A. grew its holdings in Corteva by 4,769.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,924,419 shares of the company’s stock valued at $143,427,000 after buying an additional 1,884,897 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Corteva by 54.6% during the 1st quarter. JPMorgan Chase & Co. now owns 5,009,038 shares of the company’s stock valued at $315,219,000 after buying an additional 1,769,355 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Corteva by 65.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,251,449 shares of the company’s stock valued at $204,615,000 after buying an additional 1,290,009 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Corteva by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 79,814,646 shares of the company’s stock valued at $5,022,736,000 after buying an additional 639,799 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors.

Corteva Stock Down 1.4%

Shares of CTVA opened at $61.90 on Friday. The firm has a market cap of $42.04 billion, a P/E ratio of 30.20, a P/E/G ratio of 1.40 and a beta of 0.76. The stock has a 50 day simple moving average of $70.38 and a two-hundred day simple moving average of $68.95. 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, Inc. has a 1 year low of $53.40 and a 1 year high of $77.41.

Corteva (NYSE:CTVA) last issued its earnings results on Wednesday, August 6th. The company reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.83 earnings per share. On average, analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Increases Dividend

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

Insider Transactions at Corteva

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 sale, the executive vice president owned 49,262 shares of the company’s stock, valued at $3,655,240.40. This represents a 43.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Oppenheimer set a $87.00 target price on Corteva and gave the company an “outperform” rating in a report on Tuesday, July 15th. Deutsche Bank Aktiengesellschaft lifted their target price on Corteva from $83.00 to $90.00 and gave the company a “buy” rating in a report on Monday, September 15th. Weiss Ratings lowered Corteva from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday. Citigroup lowered Corteva from a “buy” rating to a “neutral” rating and reduced their target price for the company from $83.00 to $70.00 in a report on Thursday, October 2nd. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of Corteva in a report on Monday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $80.13.

Corteva Company 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.