Bleakley Financial Group LLC Increases Stake in Corteva, Inc. $CTVA

Bleakley Financial Group LLC raised its position in Corteva, Inc. (NYSE:CTVA) by 21.4% during the second quarter, HoldingsChannel reports. The firm owned 15,635 shares of the company’s stock after purchasing an additional 2,754 shares during the period. Bleakley Financial Group LLC’s holdings in Corteva were worth $1,165,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Gladwyn Financial Advisors Inc. acquired a new stake in shares of Corteva in the 2nd quarter worth $25,000. Maryland Capital Advisors Inc. acquired a new stake in shares of Corteva in the 2nd quarter worth $29,000. Princeton Global Asset Management LLC increased its stake in shares of Corteva by 61.5% in the 2nd quarter. Princeton Global Asset Management LLC now owns 525 shares of the company’s stock worth $39,000 after acquiring an additional 200 shares during the last quarter. Valley National Advisers Inc. increased its stake in shares of 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 acquiring an additional 243 shares during the last quarter. Finally, DHJJ Financial Advisors Ltd. increased its stake in shares of Corteva by 132.2% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 527 shares of the company’s stock worth $39,000 after acquiring an additional 300 shares during the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CTVA has been the subject of a number of recent research reports. Oppenheimer cut their target price on Corteva from $87.00 to $75.00 and set an “outperform” rating for the company in a research note on Wednesday. BMO Capital Markets set a $86.00 target price on Corteva in a research note on Monday, September 15th. KeyCorp reissued a “sector weight” rating on shares of Corteva in a research report on Friday, October 3rd. Mizuho cut their price objective on Corteva from $85.00 to $78.00 and set an “outperform” rating for the company in a research report on Wednesday, October 8th. Finally, Royal Bank Of Canada cut their price objective on Corteva from $86.00 to $80.00 and set an “outperform” rating for the company in a research report on Friday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Corteva presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.94.

Corteva Stock Performance

NYSE CTVA opened at $63.63 on Friday. The company has a market cap of $43.21 billion, a P/E ratio of 31.04, a P/E/G ratio of 1.46 and a beta of 0.76. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.68 and a quick ratio of 1.23. The stock has a 50-day moving average of $68.53 and a two-hundred day moving average of $69.13. Corteva, Inc. has a 1-year low of $53.40 and a 1-year high of $77.41.

Corteva (NYSE:CTVA) last released its earnings results 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. The company had revenue of $6.46 billion during the quarter, compared to the consensus estimate of $6.26 billion. Corteva had a return on equity of 8.68% and a net margin of 8.16%.Corteva’s revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.83 EPS. As a group, 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. Shareholders 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 yield of 1.1%. This is an increase from Corteva’s previous quarterly dividend of $0.17. Corteva’s dividend payout ratio is presently 35.12%.

Insiders Place Their Bets

In other Corteva news, EVP Robert D. King sold 37,280 shares of Corteva stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $74.20, for a total value of $2,766,176.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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.