Rhumbline Advisers Sells 8,490 Shares of Corteva, Inc. (NYSE:CTVA)

Rhumbline Advisers trimmed its position in shares of Corteva, Inc. (NYSE:CTVA) by 0.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,338,849 shares of the company’s stock after selling 8,490 shares during the quarter. Rhumbline Advisers’ holdings in Corteva were worth $72,218,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Redmont Wealth Advisors LLC acquired a new position in shares of Corteva during the first quarter worth approximately $25,000. Acadian Asset Management LLC acquired a new position in shares of Corteva during the first quarter worth approximately $25,000. Rise Advisors LLC lifted its position in shares of Corteva by 2,522.2% during the first quarter. Rise Advisors LLC now owns 472 shares of the company’s stock worth $27,000 after purchasing an additional 454 shares in the last quarter. ICA Group Wealth Management LLC acquired a new position in shares of Corteva during the fourth quarter worth approximately $28,000. Finally, Scarborough Advisors LLC acquired a new position in shares of Corteva during the fourth quarter worth approximately $29,000. 81.54% of the stock is owned by institutional investors.

Corteva Stock Down 0.1 %

Shares of NYSE:CTVA opened at $55.50 on Thursday. Corteva, Inc. has a 52 week low of $43.22 and a 52 week high of $58.76. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.17 and a current ratio of 1.72. The company has a market capitalization of $38.68 billion, a PE ratio of 70.25, a PEG ratio of 1.65 and a beta of 0.77. The company has a 50 day moving average price of $53.75 and a two-hundred day moving average price of $54.60.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.09. Corteva had a net margin of 5.31% and a return on equity of 7.30%. The company had revenue of $6.11 billion during the quarter, compared to the consensus estimate of $6.15 billion. During the same quarter in the prior year, the firm earned $1.60 earnings per share. The firm’s revenue was up 1.1% compared to the same quarter last year. Analysts forecast that Corteva, Inc. will post 2.72 earnings per share for the current year.

Corteva Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.17 per share. This is an increase from Corteva’s previous quarterly dividend of $0.16. The ex-dividend date is Tuesday, September 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.23%. Corteva’s dividend payout ratio is currently 86.08%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CTVA shares. Argus lowered shares of Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. KeyCorp reduced their target price on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Mizuho cut their price objective on shares of Corteva from $61.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, June 18th. Wells Fargo & Company cut their price objective on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. cut their price objective on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $61.67.

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.