Van ECK Associates Corp Trims Stake in Corteva, Inc. $CTVA

Van ECK Associates Corp cut its holdings in Corteva, Inc. (NYSE:CTVA) by 15.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,855,204 shares of the company’s stock after selling 333,887 shares during the period. Van ECK Associates Corp owned 0.28% of Corteva worth $157,117,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of CTVA. William B. Walkup & Associates Inc. lifted its position in Corteva by 2.9% during the first quarter. William B. Walkup & Associates Inc. now owns 4,457 shares of the company’s stock valued at $373,000 after purchasing an additional 126 shares in the last quarter. Wilkerson Advisory Group LLC increased its position in Corteva by 6.7% in the first quarter. Wilkerson Advisory Group LLC now owns 2,112 shares of the company’s stock worth $177,000 after buying an additional 133 shares in the last quarter. AdvisorNet Financial Inc raised its stake in shares of Corteva by 2.4% in the first quarter. AdvisorNet Financial Inc now owns 5,694 shares of the company’s stock worth $477,000 after buying an additional 135 shares during the period. First Horizon Corp lifted its position in shares of Corteva by 9.2% during the 1st quarter. First Horizon Corp now owns 1,600 shares of the company’s stock valued at $134,000 after buying an additional 135 shares in the last quarter. Finally, Aviance Capital Partners LLC lifted its position in shares of Corteva by 1.3% during the 1st quarter. Aviance Capital Partners LLC now owns 11,008 shares of the company’s stock valued at $922,000 after buying an additional 137 shares in the last quarter. Institutional investors own 81.54% of the company’s stock.

Corteva Trading Up 1.9%

Shares of CTVA opened at $84.00 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.52 and a quick ratio of 1.10. Corteva, Inc. has a 1 year low of $60.53 and a 1 year high of $90.97. The company has a 50 day simple moving average of $82.69 and a two-hundred day simple moving average of $80.54. The firm has a market cap of $56.04 billion, a P/E ratio of 55.63, a price-to-earnings-growth ratio of 2.53 and a beta of 0.57.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Thursday, July 30th. The company reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.24 by $0.06. Corteva had a net margin of 5.66% and a return on equity of 10.18%. The firm had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $6.60 billion. During the same quarter last year, the business posted $2.20 earnings per share. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. Corteva has set its FY 2026 guidance at 3.600-3.800 EPS. On average, equities analysts expect that Corteva, Inc. will post 3.72 earnings per share for the current fiscal year.

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a $0.18 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.72 annualized dividend and a yield of 0.9%. Corteva’s payout ratio is presently 47.68%.

Wall Street Analysts Forecast Growth

CTVA has been the subject of several analyst reports. Weiss Ratings lowered shares of Corteva from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, August 3rd. JPMorgan Chase & Co. upped their price target on shares of Corteva from $77.00 to $83.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Oppenheimer raised their price objective on shares of Corteva from $89.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, July 23rd. Mizuho upped their target price on shares of Corteva from $96.00 to $97.00 and gave the stock an “outperform” rating in a report on Tuesday, July 14th. Finally, Zacks Research lowered Corteva from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Fourteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $91.50.

Corteva Profile

Corteva, Inc (NYSE: CTVA) is an independent global agriculture company that was established as a publicly traded firm in mid?2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva’s operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.

Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.