EP Wealth Advisors LLC Boosts Holdings in Corteva, Inc. (NYSE:CTVA)

EP Wealth Advisors LLC increased its position in Corteva, Inc. (NYSE:CTVA) by 4.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,113 shares of the company’s stock after purchasing an additional 831 shares during the period. EP Wealth Advisors LLC’s holdings in Corteva were worth $1,032,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Chicago Partners Investment Group LLC boosted its position in shares of Corteva by 1.2% during the fourth quarter. Chicago Partners Investment Group LLC now owns 13,282 shares of the company’s stock valued at $759,000 after buying an additional 156 shares during the last quarter. Avidian Wealth Enterprises LLC boosted its holdings in shares of Corteva by 3.6% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 4,521 shares of the company’s stock valued at $258,000 after acquiring an additional 157 shares during the last quarter. Beacon Capital Management LLC raised its holdings in shares of Corteva by 13.4% during the fourth quarter. Beacon Capital Management LLC now owns 1,341 shares of the company’s stock valued at $76,000 after purchasing an additional 158 shares during the last quarter. Lake Street Advisors Group LLC boosted its holdings in Corteva by 3.7% in the fourth quarter. Lake Street Advisors Group LLC now owns 4,514 shares of the company’s stock worth $257,000 after purchasing an additional 160 shares during the last quarter. Finally, Roble Belko & Company Inc boosted its holdings in Corteva by 5.5% in the fourth quarter. Roble Belko & Company Inc now owns 3,166 shares of the company’s stock worth $180,000 after purchasing an additional 166 shares during the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CTVA shares. Morgan Stanley raised their price target on Corteva from $65.00 to $71.00 and gave the stock an “overweight” rating in a research note on Friday. KeyCorp raised their target price on Corteva from $71.00 to $72.00 and gave the stock an “overweight” rating in a research report on Friday. The Goldman Sachs Group started coverage on shares of Corteva in a research report on Thursday, March 13th. They set a “buy” rating and a $71.00 price target for the company. Bank of America raised their price objective on shares of Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Finally, Royal Bank of Canada upped their target price on shares of Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Corteva has a consensus rating of “Moderate Buy” and a consensus price target of $69.64.

Insider Activity

In related news, insider Brian Titus sold 26,560 shares of Corteva stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $63.74, for a total value of $1,692,934.40. Following the completion of the transaction, the insider now owns 11,347 shares in the company, valued at approximately $723,257.78. This trade represents a 70.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

Corteva Trading Up 1.3 %

Shares of Corteva stock opened at $67.70 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45. The company has a fifty day moving average of $60.87 and a 200 day moving average of $60.74. The company has a market capitalization of $46.24 billion, a P/E ratio of 52.48, a P/E/G ratio of 1.68 and a beta of 0.72. Corteva, Inc. has a fifty-two week low of $50.01 and a fifty-two week high of $67.93.

Corteva (NYSE:CTVA) last issued its earnings results on Wednesday, May 7th. The company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.25. Corteva had a return on equity of 7.19% and a net margin of 5.36%. The company had revenue of $4.42 billion for the quarter, compared to the consensus estimate of $4.56 billion. During the same quarter last year, the company earned $0.89 EPS. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. On average, sell-side analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 2nd will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.00%. Corteva’s dividend payout ratio is currently 41.46%.

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.