Hartford Investment Management Co. Decreases Holdings in Corteva, Inc. (NYSE:CTVA)

Hartford Investment Management Co. trimmed its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 1.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 42,045 shares of the company’s stock after selling 434 shares during the period. Hartford Investment Management Co.’s holdings in Corteva were worth $2,646,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sepio Capital LP boosted its position in Corteva by 3.2% in the 4th quarter. Sepio Capital LP now owns 5,361 shares of the company’s stock valued at $305,000 after buying an additional 166 shares during the last quarter. Allred Capital Management LLC boosted its position in Corteva by 3.2% in the 4th quarter. Allred Capital Management LLC now owns 5,447 shares of the company’s stock valued at $310,000 after buying an additional 171 shares during the last quarter. Signaturefd LLC boosted its position in Corteva by 1.9% in the 1st quarter. Signaturefd LLC now owns 9,353 shares of the company’s stock valued at $589,000 after buying an additional 172 shares during the last quarter. NTV Asset Management LLC boosted its position in Corteva by 3.3% in the 1st quarter. NTV Asset Management LLC now owns 5,457 shares of the company’s stock valued at $343,000 after buying an additional 173 shares during the last quarter. Finally, Avantax Planning Partners Inc. boosted its position in Corteva by 4.1% in the 1st quarter. Avantax Planning Partners Inc. now owns 4,539 shares of the company’s stock valued at $286,000 after buying an additional 178 shares during the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on CTVA shares. BMO Capital Markets upped their price objective on shares of Corteva from $74.00 to $86.00 and gave the company an “outperform” rating in a research report on Tuesday, July 8th. Citigroup upped their price objective on shares of Corteva from $75.00 to $78.00 and gave the company a “buy” rating in a research report on Friday, May 9th. Morgan Stanley increased their price target on shares of Corteva from $65.00 to $71.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. Oppenheimer set a $87.00 price target on shares of Corteva and gave the stock an “outperform” rating in a research report on Tuesday, July 15th. Finally, Royal Bank Of Canada increased their price target on shares of Corteva from $74.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, July 10th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Corteva presently has an average rating of “Moderate Buy” and an average price target of $77.38.

Corteva Price Performance

CTVA opened at $71.14 on Friday. The firm has a market cap of $48.53 billion, a price-to-earnings ratio of 43.38, a price-to-earnings-growth ratio of 1.74 and a beta of 0.75. Corteva, Inc. has a fifty-two week low of $50.30 and a fifty-two week high of $77.41. The company’s 50-day moving average price is $73.15 and its 200 day moving average price is $66.19. The company has a quick ratio of 1.00, a current ratio of 1.44 and a debt-to-equity ratio of 0.07.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.25. The firm had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.56 billion. Corteva had a net margin of 6.77% and a return on equity of 7.84%. Corteva’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.89 earnings per share. As a group, sell-side analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.0%. This is a positive change from Corteva’s previous quarterly dividend of $0.17. The ex-dividend date is Tuesday, September 2nd. Corteva’s dividend payout ratio (DPR) 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.