Whittier Trust Co. Increases Position in Corteva, Inc. $CTVA

Whittier Trust Co. grew its holdings in Corteva, Inc. (NYSE:CTVA) by 1.3% in the second quarter, Holdings Channel.com reports. The institutional investor owned 24,094 shares of the company’s stock after acquiring an additional 302 shares during the quarter. Whittier Trust Co.’s holdings in Corteva were worth $1,796,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Gladwyn Financial Advisors Inc. purchased a new stake in shares of Corteva in the second quarter valued at about $25,000. Maryland Capital Advisors Inc. purchased a new stake in shares of Corteva in the second quarter valued at about $29,000. Valley National Advisers Inc. raised its holdings in shares of Corteva by 85.9% in the first quarter. Valley National Advisers Inc. now owns 526 shares of the company’s stock valued at $33,000 after buying an additional 243 shares during the last quarter. Richardson Capital Management LLC purchased a new stake in shares of Corteva in the first quarter valued at about $37,000. Finally, DHJJ Financial Advisors Ltd. raised its holdings in shares of Corteva by 132.2% in the second quarter. DHJJ Financial Advisors Ltd. now owns 527 shares of the company’s stock valued at $39,000 after buying an additional 300 shares during the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Corteva Stock Up 1.7%

Shares of CTVA opened at $63.05 on Thursday. The firm has a market cap of $42.82 billion, a PE ratio of 30.76, a price-to-earnings-growth ratio of 1.42 and a beta of 0.76. The company’s fifty day moving average is $68.86 and its two-hundred day moving average is $68.93. Corteva, Inc. has a fifty-two week low of $53.40 and a fifty-two week high of $77.41. The company has a quick ratio of 1.23, a current ratio of 1.68 and a debt-to-equity ratio of 0.06.

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

Corteva Increases Dividend

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

Analyst Upgrades and Downgrades

CTVA has been the subject of a number of research reports. Jefferies Financial Group reduced their target price on shares of Corteva from $92.00 to $85.00 in a report on Thursday, October 2nd. Morgan Stanley set a $84.00 price target on shares of Corteva in a report on Monday, September 15th. Mizuho cut their price target on shares of Corteva from $85.00 to $78.00 and set an “outperform” rating for the company in a report on Wednesday, October 8th. Wall Street Zen cut shares of Corteva from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Finally, Weiss Ratings cut shares of Corteva from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 8th. One investment 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $79.94.

Insider Buying and Selling at Corteva

In other Corteva news, EVP Robert D. King sold 37,280 shares of Corteva stock in a transaction on Friday, August 29th. The shares were sold at an average price of $74.20, for a total value of $2,766,176.00. Following the transaction, the executive vice president owned 49,262 shares in the company, valued at $3,655,240.40. This trade represents a 43.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.14% of the stock is currently owned by company insiders.

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.