Envestnet Asset Management Inc. Purchases 42,263 Shares of Corteva, Inc. $CTVA

Envestnet Asset Management Inc. lifted its position in shares of Corteva, Inc. (NYSE:CTVA) by 2.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,018,817 shares of the company’s stock after acquiring an additional 42,263 shares during the period. Envestnet Asset Management Inc. owned approximately 0.30% of Corteva worth $150,462,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in CTVA. Brighton Jones LLC lifted its stake in Corteva by 307.2% in the 4th quarter. Brighton Jones LLC now owns 15,588 shares of the company’s stock valued at $888,000 after purchasing an additional 11,760 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in Corteva by 2.0% in the 1st quarter. Sequoia Financial Advisors LLC now owns 15,940 shares of the company’s stock valued at $1,003,000 after purchasing an additional 305 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Corteva by 19.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 71,152 shares of the company’s stock valued at $4,345,000 after purchasing an additional 11,727 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Corteva by 3.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 47,668 shares of the company’s stock valued at $3,029,000 after purchasing an additional 1,602 shares during the last quarter. Finally, Amalgamated Bank lifted its stake in Corteva by 0.6% in the 1st quarter. Amalgamated Bank now owns 134,730 shares of the company’s stock valued at $8,479,000 after purchasing an additional 762 shares during the last quarter. Institutional investors own 81.54% of the company’s stock.

Insider Buying and Selling at Corteva

In other Corteva news, EVP Robert D. King sold 37,280 shares of the firm’s 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 directly owned 49,262 shares of the company’s stock, valued at approximately $3,655,240.40. This trade represents a 43.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

CTVA has been the subject of several research reports. Royal Bank Of Canada dropped their price objective on shares of Corteva from $86.00 to $80.00 and set an “outperform” rating for the company in a research note on Friday, October 17th. Wells Fargo & Company decreased their price target on shares of Corteva from $83.00 to $80.00 and set an “overweight” rating for the company in a research report on Thursday, October 16th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Corteva from $83.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, September 15th. JPMorgan Chase & Co. upgraded shares of Corteva from a “neutral” rating to an “overweight” rating and set a $67.00 price target for the company in a research report on Thursday, October 2nd. Finally, KeyCorp restated a “sector weight” rating on shares of Corteva in a research report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $79.94.

Corteva Trading Down 0.7%

NYSE:CTVA opened at $63.48 on Wednesday. The company has a current ratio of 1.68, a quick ratio of 1.23 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $43.11 billion, a price-to-earnings ratio of 30.96, a PEG ratio of 1.46 and a beta of 0.76. The firm has a fifty day simple moving average of $68.18 and a two-hundred day simple moving average of $69.28. Corteva, Inc. has a 12 month low of $53.40 and a 12 month high of $77.41.

Corteva (NYSE:CTVA) last released its quarterly earnings data 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. 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 period last year, the firm earned $1.83 earnings per share. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. Analysts expect that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Company 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.