2,678 Shares in Corteva, Inc. $CTVA Acquired by FSM Wealth Advisors LLC

FSM Wealth Advisors LLC acquired a new position in shares of Corteva, Inc. (NYSE:CTVA) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,678 shares of the company’s stock, valued at approximately $205,000.

Other hedge funds have also recently bought and sold shares of the company. Peak Financial Advisors LLC bought a new stake in shares of Corteva during the second quarter worth $505,000. Cary Street Partners Financial LLC increased its position in Corteva by 20.7% in the first quarter. Cary Street Partners Financial LLC now owns 90,206 shares of the company’s stock worth $5,677,000 after purchasing an additional 15,448 shares during the period. PGGM Investments raised its holdings in Corteva by 68.5% during the 2nd quarter. PGGM Investments now owns 1,223,444 shares of the company’s stock worth $91,183,000 after purchasing an additional 497,200 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Corteva by 28.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,851,993 shares of the company’s stock valued at $179,476,000 after purchasing an additional 634,938 shares during the period. Finally, S.E.E.D. Planning Group LLC lifted its position in Corteva by 70.3% during the 2nd quarter. S.E.E.D. Planning Group LLC now owns 164,393 shares of the company’s stock valued at $12,252,000 after purchasing an additional 67,869 shares during the period. 81.54% of the stock is currently owned by institutional investors.

Corteva Price Performance

Shares of CTVA stock opened at $63.63 on Friday. 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, Inc. has a 12-month low of $53.40 and a 12-month high of $77.41. The firm has a fifty day moving average of $68.53 and a 200-day moving average of $69.04. The firm has a market capitalization of $43.21 billion, a price-to-earnings ratio of 31.04, a price-to-earnings-growth ratio of 1.45 and a beta of 0.76.

Corteva (NYSE:CTVA) last posted its earnings results on Wednesday, August 6th. The company reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.31. Corteva had a return on equity of 8.68% and a net margin of 8.16%.The firm had revenue of $6.46 billion for the quarter, compared to analyst estimates of $6.26 billion. During the same period in the previous year, the company posted $1.83 earnings per share. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, equities research analysts forecast 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 was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were given a $0.18 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $0.72 annualized dividend and a dividend yield of 1.1%. This is a boost from Corteva’s previous quarterly dividend of $0.17. Corteva’s payout ratio is presently 35.12%.

Insider Transactions at Corteva

In other Corteva news, EVP Robert D. King sold 37,280 shares of the firm’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 directly owned 49,262 shares in the company, valued at approximately $3,655,240.40. This trade represents a 43.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Citigroup cut 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 research report on Thursday, October 2nd. Wells Fargo & Company reduced their price objective on shares of Corteva from $83.00 to $80.00 and set an “overweight” rating on the stock in a research note on Thursday, October 16th. Morgan Stanley set a $84.00 target price on shares of Corteva in a research report on Monday, September 15th. BMO Capital Markets set a $86.00 price target on Corteva in a research note on Monday, September 15th. Finally, Royal Bank Of Canada decreased their price objective on Corteva from $86.00 to $80.00 and set an “outperform” rating for the company in a research note on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $79.94.

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.