Corteva, Inc. (NYSE:CTVA) Holdings Lowered by BLB&B Advisors LLC

BLB&B Advisors LLC lowered its stake in Corteva, Inc. (NYSE:CTVA) by 7.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,204 shares of the company’s stock after selling 483 shares during the quarter. BLB&B Advisors LLC’s holdings in Corteva were worth $365,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Pinnacle Bancorp Inc. raised its holdings in shares of Corteva by 26.1% during the third quarter. Pinnacle Bancorp Inc. now owns 962 shares of the company’s stock valued at $57,000 after acquiring an additional 199 shares during the period. Herr Investment Group LLC grew its position in Corteva by 2.8% during the 1st quarter. Herr Investment Group LLC now owns 7,400 shares of the company’s stock worth $427,000 after purchasing an additional 200 shares in the last quarter. Azzad Asset Management Inc. ADV raised its stake in Corteva by 0.4% during the 2nd quarter. Azzad Asset Management Inc. ADV now owns 48,200 shares of the company’s stock valued at $2,600,000 after purchasing an additional 203 shares during the period. Westhampton Capital LLC lifted its holdings in shares of Corteva by 2.5% in the third quarter. Westhampton Capital LLC now owns 8,641 shares of the company’s stock valued at $508,000 after purchasing an additional 213 shares in the last quarter. Finally, Albion Financial Group UT boosted its position in shares of Corteva by 77.2% in the first quarter. Albion Financial Group UT now owns 505 shares of the company’s stock worth $29,000 after buying an additional 220 shares during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analyst Ratings Changes

CTVA has been the subject of several research analyst reports. Citigroup assumed coverage on Corteva in a research note on Wednesday. They issued a “buy” rating and a $68.00 price objective for the company. Bank of America upgraded shares of Corteva from a “neutral” rating to a “buy” rating and raised their price target for the stock from $59.00 to $67.00 in a report on Wednesday, October 16th. Wells Fargo & Company dropped their price objective on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Argus lowered shares of Corteva from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $65.00 price target on shares of Corteva in a research note on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $62.50.

Corteva Stock Performance

NYSE:CTVA opened at $60.79 on Thursday. The firm has a market capitalization of $42.37 billion, a PE ratio of 76.95, a PEG ratio of 1.66 and a beta of 0.77. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.10. Corteva, Inc. has a 1 year low of $43.22 and a 1 year high of $60.88. The firm’s fifty day simple moving average is $56.84 and its 200 day simple moving average is $55.13.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.09. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The company had revenue of $6.11 billion for the quarter, compared to the consensus estimate of $6.15 billion. During the same period last year, the business posted $1.60 earnings per share. The firm’s revenue was up 1.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Corteva, Inc. will post 2.66 EPS for the current year.

Corteva Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.12%. This is a boost from Corteva’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Tuesday, September 3rd. Corteva’s dividend payout ratio is currently 86.08%.

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.