Exencial Wealth Advisors LLC Cuts Holdings in Corteva, Inc. $CTVA

Exencial Wealth Advisors LLC trimmed its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 5.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 3,167 shares of the company’s stock after selling 195 shares during the quarter. Exencial Wealth Advisors LLC’s holdings in Corteva were worth $236,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CTVA. Brighton Jones LLC boosted its stake in shares of Corteva by 307.2% in the 4th quarter. Brighton Jones LLC now owns 15,588 shares of the company’s stock worth $888,000 after buying an additional 11,760 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Corteva by 15.0% in the 1st quarter. GAMMA Investing LLC now owns 15,061 shares of the company’s stock worth $948,000 after buying an additional 1,962 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Corteva by 12.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 49,377 shares of the company’s stock worth $3,107,000 after buying an additional 5,456 shares during the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of Corteva by 3.6% in the 1st quarter. Oppenheimer & Co. Inc. now owns 36,941 shares of the company’s stock worth $2,325,000 after buying an additional 1,279 shares during the last quarter. Finally, Golden State Wealth Management LLC boosted its stake in shares of Corteva by 322.7% in the 1st quarter. Golden State Wealth Management LLC now owns 2,388 shares of the company’s stock worth $150,000 after buying an additional 1,823 shares during the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Corteva Price Performance

Shares of Corteva stock opened at $63.63 on Friday. Corteva, Inc. has a one year low of $53.40 and a one year high of $77.41. The stock’s fifty day moving average is $68.53 and its 200 day moving average is $69.04. The stock has a market cap of $43.21 billion, a P/E ratio of 31.04, a P/E/G ratio of 1.45 and a beta of 0.76. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.23 and a current ratio of 1.68.

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.31. The business 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 business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period last year, the firm earned $1.83 earnings per share. Sell-side analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Increases Dividend

The firm also recently declared 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 is a boost from Corteva’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Tuesday, September 2nd. Corteva’s payout ratio is 35.12%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CTVA shares. Jefferies Financial Group dropped their price target on Corteva from $92.00 to $85.00 in a research note on Thursday, October 2nd. Royal Bank Of Canada dropped their price target on Corteva from $86.00 to $80.00 and set an “outperform” rating on the stock in a research note on Friday, October 17th. Wells Fargo & Company dropped their price target on Corteva from $83.00 to $80.00 and set an “overweight” rating on the stock in a research note on Thursday, October 16th. BMO Capital Markets set a $86.00 price target on Corteva in a research note on Monday, September 15th. Finally, Citigroup cut Corteva from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $83.00 to $70.00 in a report on Thursday, October 2nd. One 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $79.94.

Insider Buying and Selling

In other Corteva news, EVP Robert D. King sold 37,280 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $3,655,240.40. This trade represents a 43.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is currently owned by corporate insiders.

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.