LRI Investments LLC Reduces Holdings in Corteva, Inc. $CTVA

LRI Investments LLC cut its stake in shares of Corteva, Inc. (NYSE:CTVA) by 7.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,529 shares of the company’s stock after selling 420 shares during the quarter. LRI Investments LLC’s holdings in Corteva were worth $412,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Maryland Capital Advisors Inc. purchased a new stake in Corteva during the 2nd quarter valued at about $29,000. Valley National Advisers Inc. boosted its holdings in Corteva by 85.9% during the 1st quarter. Valley National Advisers Inc. now owns 526 shares of the company’s stock valued at $33,000 after acquiring an additional 243 shares during the period. DHJJ Financial Advisors Ltd. raised its position in Corteva by 132.2% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 527 shares of the company’s stock valued at $39,000 after purchasing an additional 300 shares during the last quarter. Richardson Capital Management LLC bought a new position in Corteva during the 1st quarter valued at approximately $37,000. Finally, von Borstel & Associates Inc. bought a new position in Corteva during the 1st quarter valued at approximately $44,000. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CTVA has been the subject of a number of recent analyst reports. Barclays raised Corteva from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $75.00 to $84.00 in a research report on Wednesday, August 13th. Deutsche Bank Aktiengesellschaft upped their price target on Corteva from $83.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, September 15th. Citigroup lowered Corteva from a “buy” rating to a “neutral” rating and lowered their price target for the company from $83.00 to $70.00 in a research report on Thursday, October 2nd. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Corteva in a research report on Monday, August 11th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and set a $83.00 price target (up previously from $82.00) on shares of Corteva in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Corteva currently has a consensus rating of “Moderate Buy” and an average target price of $80.13.

Insider Activity at Corteva

In other Corteva 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 value of $2,766,176.00. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 firm has a market cap of $42.04 billion, a PE ratio of 30.20, a price-to-earnings-growth ratio of 1.40 and a beta of 0.76. The business has a 50 day moving average of $70.38 and a 200 day moving average of $68.99.

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

Corteva Increases Dividend

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

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.