Wealthfront Advisers LLC Has $8.39 Million Position in Corteva, Inc. $CTVA

Wealthfront Advisers LLC boosted its position in Corteva, Inc. (NYSE:CTVA) by 26.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 112,587 shares of the company’s stock after purchasing an additional 23,480 shares during the period. Wealthfront Advisers LLC’s holdings in Corteva were worth $8,391,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Moody National Bank Trust Division increased its holdings in Corteva by 0.7% in 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 in the last quarter. Ancora Advisors LLC increased its holdings in Corteva by 0.8% in 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 in the last quarter. NORTHSTAR ASSET MANAGEMENT Co increased its holdings in Corteva by 2.2% in the 2nd quarter. NORTHSTAR ASSET MANAGEMENT Co now owns 6,940 shares of the company’s stock worth $517,000 after purchasing an additional 150 shares in the last quarter. NewEdge Advisors LLC increased its holdings in Corteva by 0.5% in 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 in the last quarter. Finally, Plancorp LLC increased its holdings in Corteva by 2.3% in the 1st quarter. Plancorp LLC now owns 7,156 shares of the company’s stock worth $450,000 after purchasing an additional 158 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CTVA shares. Citigroup cut Corteva from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $83.00 to $70.00 in a report on Thursday, October 2nd. Zacks Research raised Corteva from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 1st. Wells Fargo & Company decreased their price target on Corteva from $83.00 to $80.00 and set an “overweight” rating for the company in a research note on Thursday, October 16th. Oppenheimer decreased their price target on Corteva from $87.00 to $75.00 and set an “outperform” rating for the company in a research note on Wednesday, October 22nd. Finally, Barclays raised Corteva from an “equal weight” rating to an “overweight” rating and increased their price target 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 issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.94.

Corteva Stock Up 0.4%

Shares of NYSE:CTVA opened at $63.89 on Tuesday. The business’s 50 day simple moving average is $68.36 and its two-hundred day simple moving average is $69.24. The firm has a market cap of $43.39 billion, a P/E ratio of 31.16, a PEG ratio of 1.46 and a beta of 0.76. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.23 and a current ratio of 1.68. Corteva, Inc. has a 52-week low of $53.40 and a 52-week high of $77.41.

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

Insider Transactions at Corteva

In other Corteva news, EVP Robert D. King sold 37,280 shares of the 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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.15% of the company’s stock.

About Corteva

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.