Allspring Global Investments Holdings LLC Sells 1,972 Shares of Corteva, Inc. (NYSE:CTVA)

Allspring Global Investments Holdings LLC trimmed its position in shares of Corteva, Inc. (NYSE:CTVA) by 4.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,498 shares of the company’s stock after selling 1,972 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Corteva were worth $2,336,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CVA Family Office LLC bought a new position in shares of Corteva during the 4th quarter valued at $25,000. BKM Wealth Management LLC bought a new position in shares of Corteva during the 4th quarter valued at $27,000. Rise Advisors LLC lifted its holdings in shares of Corteva by 2,522.2% during the 1st quarter. Rise Advisors LLC now owns 472 shares of the company’s stock valued at $27,000 after buying an additional 454 shares during the period. ICA Group Wealth Management LLC bought a new position in shares of Corteva during the 4th quarter valued at $28,000. Finally, Scarborough Advisors LLC bought a new position in shares of Corteva during the 4th quarter valued at $29,000. 81.54% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CTVA shares. KeyCorp raised their target price on Corteva from $63.00 to $66.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. Canaccord Genuity Group raised their target price on Corteva from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Barclays raised their target price on Corteva from $55.00 to $58.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 10th. Oppenheimer raised their target price on Corteva from $67.00 to $69.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $57.00 target price (down from $58.00) on shares of Corteva in a report on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $63.00.

Corteva Stock Down 0.6 %

Shares of NYSE CTVA opened at $52.77 on Wednesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.51 and a quick ratio of 0.97. The company has a market cap of $36.78 billion, a P/E ratio of 66.80, a PEG ratio of 1.44 and a beta of 0.77. Corteva, Inc. has a 1 year low of $43.22 and a 1 year high of $58.76. The firm has a 50-day simple moving average of $54.73 and a two-hundred day simple moving average of $52.88.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.10. Corteva had a net margin of 3.32% and a return on equity of 6.68%. The business had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.65 billion. During the same quarter last year, the firm earned $1.16 earnings per share. The firm’s quarterly revenue was down 8.0% compared to the same quarter last year. Research analysts anticipate that Corteva, Inc. will post 2.8 earnings per share for the current year.

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend was Tuesday, June 4th. Corteva’s dividend payout ratio is presently 81.01%.

Insider Activity

In other news, insider Samuel R. Eathington sold 31,686 shares of Corteva stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $57.64, for a total transaction of $1,826,381.04. Following the completion of the sale, the insider now owns 53,854 shares of the company’s stock, valued at $3,104,144.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Samuel R. Eathington sold 31,686 shares of Corteva stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $57.64, for a total transaction of $1,826,381.04. Following the transaction, the insider now directly owns 53,854 shares of the company’s stock, valued at $3,104,144.56. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Brian Titus sold 12,134 shares of Corteva stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $56.65, for a total transaction of $687,391.10. Following the transaction, the insider now directly owns 13,495 shares in the company, valued at $764,491.75. The disclosure for this sale can be found here. Over the last quarter, insiders sold 83,556 shares of company stock valued at $4,795,016. Corporate insiders own 0.20% of the company’s stock.

Corteva 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.