Hennion & Walsh Asset Management Inc. Sells 371 Shares of Corteva, Inc. (NYSE:CTVA)

Hennion & Walsh Asset Management Inc. decreased its holdings in Corteva, Inc. (NYSE:CTVA) by 1.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,348 shares of the company’s stock after selling 371 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Corteva were worth $1,346,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. CVA Family Office LLC bought a new stake in shares of Corteva during the fourth quarter worth $25,000. BKM Wealth Management LLC bought a new stake in shares of Corteva during the fourth quarter worth $27,000. Rise Advisors LLC raised its position in shares of Corteva by 2,522.2% during the first quarter. Rise Advisors LLC now owns 472 shares of the company’s stock worth $27,000 after acquiring an additional 454 shares during the last quarter. ICA Group Wealth Management LLC bought a new stake in shares of Corteva during the fourth quarter worth $28,000. Finally, Scarborough Advisors LLC bought a new stake in shares of Corteva during the fourth quarter worth $29,000. Institutional investors own 81.54% of the company’s stock.

Wall Street Analysts Forecast Growth

CTVA has been the subject of a number of analyst reports. Wells Fargo & Company lifted their price objective on Corteva from $66.00 to $67.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $65.00 price objective on shares of Corteva in a research note on Wednesday, June 12th. Oppenheimer lifted their price objective on Corteva from $67.00 to $69.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Canaccord Genuity Group lifted their price objective on Corteva from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Finally, BMO Capital Markets lifted their price objective on Corteva from $64.00 to $67.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $63.00.

Insider Buying and Selling at Corteva

In other news, SVP Cornel B. Fuerer sold 39,736 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $57.41, for a total value of $2,281,243.76. Following the transaction, the senior vice president now owns 126,628 shares of the company’s stock, valued at $7,269,713.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Brian Titus sold 12,134 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $56.65, for a total value of $687,391.10. Following the transaction, the insider now owns 13,495 shares of the company’s stock, valued at $764,491.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Cornel B. Fuerer sold 39,736 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $57.41, for a total value of $2,281,243.76. Following the completion of the transaction, the senior vice president now directly owns 126,628 shares in the company, valued at approximately $7,269,713.48. The disclosure for this sale can be found here. Insiders have sold 83,556 shares of company stock worth $4,795,016 over the last 90 days. Company insiders own 0.14% of the company’s stock.

Corteva Stock Performance

CTVA opened at $53.94 on Monday. Corteva, Inc. has a 52-week low of $43.22 and a 52-week high of $58.76. The firm has a market capitalization of $37.59 billion, a PE ratio of 68.28, a PEG ratio of 1.44 and a beta of 0.78. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 1.51. The business’s 50-day simple moving average is $54.77 and its 200 day simple moving average is $52.83.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.10. The firm had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.65 billion. Corteva had a return on equity of 6.68% and a net margin of 3.32%. The business’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.16 earnings per share. As a group, sell-side analysts expect that Corteva, Inc. will post 2.8 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th were paid a $0.16 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $0.64 annualized dividend and a yield of 1.19%. Corteva’s dividend payout ratio is 81.01%.

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.