IFP Advisors Inc Has $818,000 Stock Position in Corteva, Inc. $CTVA

IFP Advisors Inc increased its stake in Corteva, Inc. (NYSE:CTVA) by 6.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,980 shares of the company’s stock after purchasing an additional 627 shares during the period. IFP Advisors Inc’s holdings in Corteva were worth $818,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of CTVA. Maryland Capital Advisors Inc. acquired a new position in shares of Corteva during the 2nd quarter worth approximately $29,000. Valley National Advisers Inc. raised its stake in shares of Corteva by 85.9% during the first 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 last quarter. DHJJ Financial Advisors Ltd. lifted its holdings in shares of Corteva by 132.2% during the second quarter. DHJJ Financial Advisors Ltd. now owns 527 shares of the company’s stock worth $39,000 after purchasing an additional 300 shares during the period. Richardson Capital Management LLC bought a new position in Corteva during the first quarter worth $37,000. Finally, von Borstel & Associates Inc. bought a new position in Corteva during the first quarter worth $44,000. 81.54% of the stock is owned by institutional investors.

Corteva Trading Up 1.3%

Shares of NYSE CTVA opened at $62.64 on Tuesday. Corteva, Inc. has a 1 year low of $53.40 and a 1 year high of $77.41. The stock has a market cap of $42.54 billion, a P/E ratio of 30.56, a price-to-earnings-growth ratio of 1.40 and a beta of 0.76. The firm has a 50-day moving average of $70.20 and a 200 day moving average of $69.00. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.68 and a quick ratio of 1.23.

Corteva (NYSE:CTVA) last issued its earnings results 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. Corteva had a net margin of 8.16% and a return on equity of 8.68%. The business had revenue of $6.46 billion during the quarter, compared to analysts’ expectations of $6.26 billion. During the same period in the previous year, the company earned $1.83 earnings per share. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. As a group, sell-side analysts expect that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.1%. This is a boost from Corteva’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Tuesday, September 2nd. Corteva’s payout ratio is presently 35.12%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Wall Street Zen raised shares of Corteva from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Oppenheimer set a $87.00 target price on shares of Corteva and gave the company an “outperform” rating in a research note on Tuesday, July 15th. Jefferies Financial Group dropped their target price on shares of Corteva from $92.00 to $85.00 in a research note on Thursday, October 2nd. Royal Bank Of Canada restated an “outperform” rating on shares of Corteva in a research note on Monday, August 11th. Finally, KeyCorp reiterated a “sector weight” rating on shares of Corteva in a research note on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.81.

Insider Activity at Corteva

In other news, EVP Robert D. King sold 37,280 shares of the business’s 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 transaction, the executive vice president owned 49,262 shares of the company’s stock, valued at approximately $3,655,240.40. The trade was a 43.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.15% of the company’s stock.

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.