Corteva, Inc. (NYSE:CTVA) Shares Sold by Avior Wealth Management LLC

Avior Wealth Management LLC trimmed its stake in shares of Corteva, Inc. (NYSE:CTVA) by 61.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,267 shares of the company’s stock after selling 2,012 shares during the quarter. Avior Wealth Management LLC’s holdings in Corteva were worth $61,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in CTVA. Moneta Group Investment Advisors LLC raised its position in shares of Corteva by 110,628.9% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 7,904,934 shares of the company’s stock worth $464,652,000 after purchasing an additional 7,897,795 shares during the period. Norges Bank bought a new position in Corteva in the 4th quarter worth approximately $328,936,000. Harris Associates L P bought a new position in Corteva in the 3rd quarter worth approximately $246,423,000. Van ECK Associates Corp grew its holdings in Corteva by 78.7% in the 3rd quarter. Van ECK Associates Corp now owns 7,645,091 shares of the company’s stock worth $391,123,000 after buying an additional 3,366,106 shares in the last quarter. Finally, Wells Fargo & Company MN grew its holdings in Corteva by 283.5% in the 2nd quarter. Wells Fargo & Company MN now owns 4,482,718 shares of the company’s stock worth $256,860,000 after buying an additional 3,313,768 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on CTVA shares. Oppenheimer increased their price objective on Corteva from $62.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday, April 16th. TheStreet raised Corteva from a “c+” rating to a “b-” rating in a report on Tuesday, February 27th. Barclays increased their price objective on Corteva from $55.00 to $58.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 10th. BNP Paribas raised Corteva from an “underperform” rating to a “neutral” rating and set a $53.00 price objective for the company in a report on Friday, February 2nd. Finally, KeyCorp increased their price target on Corteva from $63.00 to $66.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.29.

Corteva Stock Performance

CTVA opened at $54.80 on Friday. The firm has a market cap of $38.30 billion, a PE ratio of 53.73, a P/E/G ratio of 1.41 and a beta of 0.77. The company has a quick ratio of 0.90, a current ratio of 1.56 and a debt-to-equity ratio of 0.09. The business has a fifty day simple moving average of $55.23 and a 200-day simple moving average of $50.30. Corteva, Inc. has a fifty-two week low of $43.22 and a fifty-two week high of $62.10.

Corteva (NYSE:CTVA) last released its earnings results on Thursday, February 1st. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.09. The company had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.54 billion. Corteva had a return on equity of 7.43% and a net margin of 4.27%. During the same quarter in the prior year, the company earned $0.16 earnings per share. As a group, equities analysts predict that Corteva, Inc. will post 2.84 EPS for the current fiscal year.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a $0.16 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.17%. Corteva’s payout ratio is currently 62.75%.

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.