Carret Asset Management LLC Has $275,000 Holdings in Corteva, Inc. $CTVA

Carret Asset Management LLC reduced its holdings in Corteva, Inc. (NYSE:CTVA) by 16.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,688 shares of the company’s stock after selling 750 shares during the quarter. Carret Asset Management LLC’s holdings in Corteva were worth $275,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Savvy Advisors Inc. boosted its holdings in shares of Corteva by 6.2% in the 2nd quarter. Savvy Advisors Inc. now owns 8,207 shares of the company’s stock worth $612,000 after acquiring an additional 481 shares in the last quarter. Premier Path Wealth Partners LLC boosted its position in Corteva by 6.1% in the 2nd quarter. Premier Path Wealth Partners LLC now owns 10,491 shares of the company’s stock valued at $782,000 after buying an additional 600 shares during the last quarter. Hantz Financial Services Inc. boosted its position in Corteva by 5.7% in the 2nd quarter. Hantz Financial Services Inc. now owns 44,786 shares of the company’s stock valued at $3,338,000 after buying an additional 2,429 shares during the last quarter. Arkadios Wealth Advisors boosted its position in Corteva by 31.4% in the 2nd quarter. Arkadios Wealth Advisors now owns 13,162 shares of the company’s stock valued at $981,000 after buying an additional 3,148 shares during the last quarter. Finally, World Investment Advisors boosted its position in Corteva by 21.8% in the 2nd quarter. World Investment Advisors now owns 8,994 shares of the company’s stock valued at $670,000 after buying an additional 1,608 shares during the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CTVA has been the topic of a number of recent research reports. Wells Fargo & Company decreased their price objective on Corteva from $83.00 to $80.00 and set an “overweight” rating on the stock in a research report on Thursday, October 16th. Oppenheimer decreased their price objective on Corteva from $87.00 to $75.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 22nd. Weiss Ratings lowered Corteva from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, October 8th. Morgan Stanley set a $84.00 price objective on Corteva in a research report on Monday, September 15th. Finally, Barclays upgraded Corteva from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $75.00 to $84.00 in a research report on Wednesday, August 13th. 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. According to MarketBeat, Corteva presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.69.

Insider Buying and Selling

In related news, EVP Robert D. King sold 37,280 shares of the firm’s stock in a transaction on 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 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.14% of the company’s stock.

Corteva Stock Down 2.5%

Shares of Corteva stock opened at $61.62 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 business has a fifty day simple moving average of $67.76 and a 200 day simple moving average of $69.25. The stock has a market cap of $41.84 billion, a PE ratio of 30.06, a price-to-earnings-growth ratio of 1.44 and a beta of 0.76.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.31. The business had revenue of $6.46 billion during 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 firm’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.83 earnings per share. Research analysts predict that Corteva, Inc. will post 2.96 EPS for the current year.

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.