Fifth Third Wealth Advisors LLC Has $855,000 Stock Position in Corteva, Inc. $CTVA

Fifth Third Wealth Advisors LLC increased its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 8.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,478 shares of the company’s stock after purchasing an additional 871 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Corteva were worth $855,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Corteva by 0.8% during the first quarter. Vanguard Group Inc. now owns 79,814,646 shares of the company’s stock worth $5,022,736,000 after purchasing an additional 639,799 shares during the period. Independent Franchise Partners LLP grew its stake in Corteva by 1.8% in the first quarter. Independent Franchise Partners LLP now owns 16,785,300 shares of the company’s stock valued at $1,056,299,000 after acquiring an additional 288,792 shares during the period. Northern Trust Corp grew its stake in Corteva by 1.0% in the first quarter. Northern Trust Corp now owns 11,759,755 shares of the company’s stock valued at $740,041,000 after acquiring an additional 110,865 shares during the period. Nuveen LLC acquired a new stake in Corteva in the first quarter valued at approximately $640,333,000. Finally, WCM Investment Management LLC grew its stake in Corteva by 1.4% in the first quarter. WCM Investment Management LLC now owns 6,978,187 shares of the company’s stock valued at $426,088,000 after acquiring an additional 98,770 shares during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analyst Ratings Changes

CTVA has been the subject of a number of research reports. KeyCorp reissued a “sector weight” rating on shares of Corteva in a research note on Friday, October 3rd. Zacks Research raised Corteva from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 1st. Barclays raised Corteva from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $75.00 to $84.00 in a research note on Wednesday, August 13th. Deutsche Bank Aktiengesellschaft raised their price objective on Corteva from $83.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, September 15th. Finally, Wall Street Zen upgraded Corteva from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. One equities research 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $80.13.

Insider Buying and Selling

In related news, EVP Robert D. King sold 37,280 shares of Corteva 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 directly owned 49,262 shares in the company, valued at approximately $3,655,240.40. This trade represents a 43.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.14% of the company’s stock.

Corteva Stock Down 1.4%

CTVA stock opened at $61.90 on Monday. Corteva, Inc. has a twelve month low of $53.40 and a twelve month high of $77.41. The company has a quick ratio of 1.23, a current ratio of 1.68 and a debt-to-equity ratio of 0.06. The stock’s 50 day moving average is $70.38 and its 200-day moving average is $68.99. The firm has a market capitalization of $42.04 billion, a PE ratio of 30.20, a P/E/G ratio of 1.40 and a beta of 0.76.

Corteva (NYSE:CTVA) last posted its earnings results 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 return on equity of 8.68% and a net margin of 8.16%.The company had revenue of $6.46 billion for the quarter, compared to analyst estimates of $6.26 billion. During the same quarter last year, the company earned $1.83 earnings per share. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. Sell-side analysts expect that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.2%. This is an increase from Corteva’s previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, September 2nd. Corteva’s dividend payout ratio is 35.12%.

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.