Strs Ohio Acquires 98,508 Shares of Corteva, Inc. $CTVA

Strs Ohio grew its holdings in Corteva, Inc. (NYSE:CTVA) by 29.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 431,251 shares of the company’s stock after acquiring an additional 98,508 shares during the period. Strs Ohio owned 0.06% of Corteva worth $32,141,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CTVA. Amalgamated Bank lifted its stake in shares of Corteva by 4.9% in the second quarter. Amalgamated Bank now owns 141,394 shares of the company’s stock worth $10,538,000 after buying an additional 6,664 shares during the last quarter. Savvy Advisors Inc. lifted its stake in shares of Corteva by 6.2% in the second quarter. Savvy Advisors Inc. now owns 8,207 shares of the company’s stock worth $612,000 after buying an additional 481 shares during the last quarter. Premier Path Wealth Partners LLC lifted its stake in shares of Corteva by 6.1% in the second quarter. Premier Path Wealth Partners LLC now owns 10,491 shares of the company’s stock worth $782,000 after buying an additional 600 shares during the last quarter. Hantz Financial Services Inc. lifted its stake in shares of Corteva by 5.7% in the second quarter. Hantz Financial Services Inc. now owns 44,786 shares of the company’s stock worth $3,338,000 after buying an additional 2,429 shares during the last quarter. Finally, Arkadios Wealth Advisors lifted its stake in shares of Corteva by 31.4% in the second quarter. Arkadios Wealth Advisors now owns 13,162 shares of the company’s stock worth $981,000 after buying an additional 3,148 shares during the last quarter. 81.54% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Robert D. King sold 37,280 shares of the 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 completion of the transaction, the executive vice president owned 49,262 shares in the company, valued at approximately $3,655,240.40. This represents a 43.08% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on CTVA shares. Royal Bank Of Canada reduced 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. KeyCorp restated a “sector weight” rating on shares of Corteva in a research note on Friday, October 3rd. Zacks Research raised shares of Corteva from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 1st. Deutsche Bank Aktiengesellschaft upped their target price on shares of Corteva from $83.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, September 15th. Finally, Barclays upgraded shares of Corteva from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $75.00 to $84.00 in a research note on Wednesday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Corteva currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.69.

Corteva Price Performance

NYSE:CTVA opened at $61.62 on Friday. Corteva, Inc. has a one year low of $53.40 and a one year high of $77.41. The stock has a market cap of $41.84 billion, a P/E ratio of 30.06, a PEG ratio of 1.44 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 company has a fifty day moving average price of $67.76 and a 200 day moving average price of $69.25.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $2.20 earnings per share (EPS) 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 company had revenue of $6.46 billion during the quarter, compared to analysts’ expectations of $6.26 billion. During the same quarter in the prior year, the company posted $1.83 EPS. The business’s revenue was up 5.6% on a year-over-year basis. Analysts anticipate that Corteva, Inc. will post 2.96 earnings per share 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.