Ninety One UK Ltd Trims Stock Holdings in Corteva, Inc. $CTVA

Ninety One UK Ltd lowered its holdings in Corteva, Inc. (NYSE:CTVA) by 0.1% in the second quarter, HoldingsChannel reports. The firm owned 515,197 shares of the company’s stock after selling 557 shares during the period. Ninety One UK Ltd’s holdings in Corteva were worth $38,398,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CTVA. Moody National Bank Trust Division raised its holdings in shares of Corteva by 0.7% during the second quarter. Moody National Bank Trust Division now owns 22,139 shares of the company’s stock valued at $1,650,000 after buying an additional 143 shares during the last quarter. Ancora Advisors LLC raised its stake in Corteva by 0.8% during the 1st quarter. Ancora Advisors LLC now owns 18,567 shares of the company’s stock valued at $1,168,000 after acquiring an additional 150 shares in the last quarter. NewEdge Advisors LLC raised its stake in Corteva by 0.5% during the 1st quarter. NewEdge Advisors LLC now owns 31,455 shares of the company’s stock valued at $1,979,000 after acquiring an additional 152 shares in the last quarter. Plancorp LLC raised its stake in Corteva by 2.3% during the 1st quarter. Plancorp LLC now owns 7,156 shares of the company’s stock valued at $450,000 after acquiring an additional 158 shares in the last quarter. Finally, Legacy Financial Advisors Inc. raised its stake in Corteva by 4.4% during the 1st quarter. Legacy Financial Advisors Inc. now owns 3,761 shares of the company’s stock valued at $237,000 after acquiring an additional 160 shares in the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Corteva Stock Down 0.2%

NYSE CTVA opened at $67.63 on Wednesday. The company has a market capitalization of $45.93 billion, a P/E ratio of 32.99, a PEG ratio of 1.55 and a beta of 0.78. Corteva, Inc. has a 12 month low of $53.40 and a 12 month high of $77.41. The company’s 50 day simple moving average is $71.89 and its 200 day simple moving average is $68.88. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.68 and a quick ratio of 1.23.

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.31. The company had revenue of $6.46 billion for the quarter, compared to analysts’ expectations of $6.26 billion. Corteva had a return on equity of 8.68% and a net margin of 8.16%.The firm’s revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.83 earnings per share. Equities research analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.1%. The ex-dividend date was Tuesday, September 2nd. This is a boost from Corteva’s previous quarterly dividend of $0.17. Corteva’s dividend payout ratio is presently 35.12%.

Insider Activity

In other news, EVP Robert D. King sold 37,280 shares of the business’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the sale, the executive vice president owned 49,262 shares in the company, valued at $3,655,240.40. The trade was a 43.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.15% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CTVA shares. Morgan Stanley set a $84.00 price objective on shares of Corteva in a research note on Monday, September 15th. KeyCorp boosted their price target on shares of Corteva from $84.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, August 8th. UBS Group boosted their price target on shares of Corteva from $90.00 to $91.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Deutsche Bank Aktiengesellschaft boosted their target price on Corteva from $83.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, September 15th. Finally, Jefferies Financial Group reissued a “buy” rating on shares of Corteva in a report on Friday, June 6th. Thirteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $82.00.

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.