Confluence Wealth Services Inc. Sells 165 Shares of Corteva, Inc. $CTVA

Confluence Wealth Services Inc. lessened its position in shares of Corteva, Inc. (NYSE:CTVA) by 2.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,579 shares of the company’s stock after selling 165 shares during the period. Confluence Wealth Services Inc.’s holdings in Corteva were worth $416,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in CTVA. Maryland Capital Advisors Inc. purchased a new position in shares of Corteva in the second quarter worth about $29,000. Valley National Advisers Inc. boosted its holdings in Corteva by 85.9% in the 1st quarter. Valley National Advisers Inc. now owns 526 shares of the company’s stock worth $33,000 after buying an additional 243 shares during the period. DHJJ Financial Advisors Ltd. grew its stake in Corteva by 132.2% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 527 shares of the company’s stock valued at $39,000 after buying an additional 300 shares in the last quarter. Richardson Capital Management LLC bought a new stake in Corteva during the 1st quarter valued at $37,000. Finally, von Borstel & Associates Inc. purchased a new stake in shares of Corteva during the first quarter worth $44,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Insider Activity at Corteva

In related news, EVP Robert D. King sold 37,280 shares of Corteva stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the sale, the executive vice president directly 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 document filed with the SEC, which is available through this hyperlink. 0.14% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on CTVA. Weiss Ratings reiterated a “buy (b-)” rating on shares of Corteva in a research note on Saturday, September 27th. JPMorgan Chase & Co. raised Corteva from a “neutral” rating to an “overweight” rating and set a $67.00 target price for the company in a report on Thursday, October 2nd. Citigroup downgraded shares of Corteva from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $83.00 to $70.00 in a report on Thursday. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Corteva in a research note on Monday, August 11th. Finally, UBS Group lowered their target price on shares of Corteva from $91.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $80.27.

Corteva Stock Up 1.5%

Shares of Corteva stock opened at $64.30 on Tuesday. The company’s fifty day simple moving average is $71.08 and its two-hundred day simple moving average is $68.97. Corteva, Inc. has a 12-month low of $53.40 and a 12-month high of $77.41. The company has a current ratio of 1.68, a quick ratio of 1.23 and a debt-to-equity ratio of 0.06. The company has a market cap of $43.67 billion, a P/E ratio of 31.37, a PEG ratio of 1.43 and a beta of 0.76.

Corteva (NYSE:CTVA) last announced 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. Corteva had a net margin of 8.16% and a return on equity of 8.68%. The company had revenue of $6.46 billion for the quarter, compared to analysts’ expectations of $6.26 billion. During the same quarter in the previous year, the company earned $1.83 earnings per share. Corteva’s quarterly revenue was up 5.6% on a year-over-year basis. Research analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were given a $0.18 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $0.72 annualized dividend and a dividend yield of 1.1%. This is an increase from Corteva’s previous quarterly dividend of $0.17. Corteva’s dividend payout ratio is currently 35.12%.

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.