Strong Tower Advisory Services Buys 1,840 Shares of Corteva, Inc. $CTVA

Strong Tower Advisory Services lifted its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 4.6% during the second quarter, Holdings Channel.com reports. The firm owned 42,148 shares of the company’s stock after acquiring an additional 1,840 shares during the quarter. Strong Tower Advisory Services’ holdings in Corteva were worth $3,141,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Maryland Capital Advisors Inc. acquired a new position in shares of Corteva during the second quarter worth $29,000. Valley National Advisers Inc. lifted its holdings in shares of Corteva by 85.9% during the first quarter. Valley National Advisers Inc. now owns 526 shares of the company’s stock worth $33,000 after purchasing an additional 243 shares during the period. DHJJ Financial Advisors Ltd. lifted its holdings in shares of Corteva by 132.2% during the second quarter. DHJJ Financial Advisors Ltd. now owns 527 shares of the company’s stock worth $39,000 after purchasing an additional 300 shares during the period. Richardson Capital Management LLC acquired a new position in shares of Corteva during the first quarter worth $37,000. Finally, von Borstel & Associates Inc. acquired a new position in Corteva in the first quarter valued at $44,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Price Performance

Shares of NYSE CTVA opened at $61.90 on Friday. The firm’s 50-day moving average price is $70.38 and its 200-day moving average price is $68.91. Corteva, Inc. has a 1-year low of $53.40 and a 1-year high of $77.41. The firm has a market capitalization of $42.04 billion, a P/E ratio of 30.20, a P/E/G ratio of 1.42 and a beta of 0.76. The company has a current ratio of 1.68, a quick ratio of 1.23 and a debt-to-equity ratio of 0.06.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $2.20 earnings per share 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 firm had revenue of $6.46 billion for the quarter, compared to analyst estimates of $6.26 billion. During the same quarter in the prior year, the business earned $1.83 earnings per share. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. Equities research analysts anticipate 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. Stockholders of record on Tuesday, September 2nd were issued a dividend of $0.18 per share. This is an increase from Corteva’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Tuesday, September 2nd. Corteva’s dividend payout ratio (DPR) is currently 35.12%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Wells Fargo & Company restated an “overweight” rating and issued a $83.00 target price (up previously from $82.00) on shares of Corteva in a report on Friday, August 8th. Citigroup lowered shares of Corteva from a “buy” rating to a “neutral” rating and dropped their target price for the company from $83.00 to $70.00 in a report on Thursday, October 2nd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Corteva from $83.00 to $90.00 and gave the company a “buy” rating in a report on Monday, September 15th. KeyCorp restated a “sector weight” rating on shares of Corteva in a report on Friday, October 3rd. Finally, Wall Street Zen upgraded shares of Corteva from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $80.13.

Insider Buying and Selling at Corteva

In other news, EVP Robert D. King sold 37,280 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 49,262 shares of the company’s stock, 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 SEC, which is available at this link. Corporate insiders own 0.14% of the company’s stock.

Corteva Profile

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.