Phoenix Financial Ltd. Makes New $258,000 Investment in Corteva, Inc. $CTVA

Phoenix Financial Ltd. acquired a new position in shares of Corteva, Inc. (NYSE:CTVA) in the 2nd quarter, Holdings Channel reports. The fund acquired 3,467 shares of the company’s stock, valued at approximately $258,000.

Several other large investors have also made changes to their positions in the business. Moody National Bank Trust Division lifted its position in shares of Corteva by 0.7% during the 2nd quarter. Moody National Bank Trust Division now owns 22,139 shares of the company’s stock worth $1,650,000 after purchasing an additional 143 shares during the last quarter. Ancora Advisors LLC lifted its position in shares of Corteva by 0.8% during the 1st quarter. Ancora Advisors LLC now owns 18,567 shares of the company’s stock worth $1,168,000 after purchasing an additional 150 shares during the last quarter. NewEdge Advisors LLC lifted its position in shares of Corteva by 0.5% during the 1st quarter. NewEdge Advisors LLC now owns 31,455 shares of the company’s stock worth $1,979,000 after purchasing an additional 152 shares during the last quarter. Plancorp LLC lifted its position in shares of Corteva by 2.3% during the 1st quarter. Plancorp LLC now owns 7,156 shares of the company’s stock worth $450,000 after purchasing an additional 158 shares during the last quarter. Finally, Legacy Financial Advisors Inc. lifted its position in shares of Corteva by 4.4% during the 1st quarter. Legacy Financial Advisors Inc. now owns 3,761 shares of the company’s stock worth $237,000 after purchasing an additional 160 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Insider Buying and Selling at Corteva

In other news, EVP Robert D. King sold 37,280 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president directly owned 49,262 shares in the company, valued at approximately $3,655,240.40. This represents a 43.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

CTVA has been the subject of several research analyst reports. Oppenheimer cut their price objective on Corteva from $87.00 to $75.00 and set an “outperform” rating for the company in a research report on Wednesday. Weiss Ratings lowered Corteva from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. Royal Bank Of Canada lowered their price target on Corteva from $86.00 to $80.00 and set an “outperform” rating on the stock in a research note on Friday, October 17th. Wall Street Zen lowered Corteva from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Corteva from $83.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, September 15th. One 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 company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $79.94.

Corteva Trading Up 1.7%

CTVA stock opened at $63.05 on Thursday. Corteva, Inc. has a 1-year low of $53.40 and a 1-year high of $77.41. The firm has a market cap of $42.82 billion, a P/E ratio of 30.76, a P/E/G ratio of 1.42 and a beta of 0.76. The business’s 50 day moving average is $68.86 and its 200-day moving average is $68.93. The company has a current ratio of 1.68, a quick ratio of 1.23 and a debt-to-equity ratio of 0.06.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Wednesday, August 6th. The company reported $2.20 earnings per share for the quarter, beating the consensus estimate 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 period in the prior year, the company posted $1.83 EPS. The company’s revenue was up 5.6% compared to the same quarter last year. Equities analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Increases Dividend

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