Corteva, Inc. $CTVA Shares Acquired by Amalgamated Bank

Amalgamated Bank increased its stake in Corteva, Inc. (NYSE:CTVA) by 4.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 141,394 shares of the company’s stock after acquiring an additional 6,664 shares during the period. Amalgamated Bank’s holdings in Corteva were worth $10,538,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Moody National Bank Trust Division raised its stake in shares of Corteva by 0.7% in the second quarter. Moody National Bank Trust Division now owns 22,139 shares of the company’s stock valued at $1,650,000 after acquiring an additional 143 shares in the last quarter. Ancora Advisors LLC increased its holdings in Corteva by 0.8% in the first quarter. Ancora Advisors LLC now owns 18,567 shares of the company’s stock valued at $1,168,000 after buying an additional 150 shares during the last quarter. NORTHSTAR ASSET MANAGEMENT Co increased its holdings in Corteva by 2.2% in the second quarter. NORTHSTAR ASSET MANAGEMENT Co now owns 6,940 shares of the company’s stock valued at $517,000 after buying an additional 150 shares during the last quarter. NewEdge Advisors LLC increased its holdings in Corteva by 0.5% in the first quarter. NewEdge Advisors LLC now owns 31,455 shares of the company’s stock valued at $1,979,000 after buying an additional 152 shares during the last quarter. Finally, Plancorp LLC increased its holdings in Corteva by 2.3% in the first quarter. Plancorp LLC now owns 7,156 shares of the company’s stock valued at $450,000 after buying an additional 158 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Stock Performance

Shares of CTVA stock opened at $61.62 on Friday. The stock’s 50-day moving average is $67.76 and its two-hundred day moving average is $69.25. The firm has a market cap of $41.84 billion, a price-to-earnings ratio of 30.06, a PEG ratio of 1.44 and a beta of 0.76. Corteva, Inc. has a 1 year low of $53.40 and a 1 year high of $77.41. 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 issued its quarterly earnings data on Wednesday, August 6th. The company reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.31. The company had revenue of $6.46 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the company posted $1.83 earnings per share. Analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current year.

Insider Activity

In related 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 transaction, the executive vice president 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 filing with the SEC, which is available through this link. 0.14% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CTVA shares. Morgan Stanley set a $84.00 target price on Corteva in a report on Monday, September 15th. Mizuho dropped their price target on shares of Corteva from $85.00 to $78.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 8th. Wall Street Zen lowered shares of Corteva from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Zacks Research upgraded shares of Corteva from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 1st. Finally, The Goldman Sachs Group dropped their price target on shares of Corteva from $85.00 to $77.00 and set a “buy” rating on the stock in a research note on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $79.69.

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.